TXNM Energy (TXNM) grants 2,698 RSUs to director Maestas

Rhea-AI Filing Summary

Maestas Steven reported acquisition or exercise transactions in this Form 4 filing.

TXNM ENERGY INC director Steven Maestas received an award of 2,698 restricted stock units on June 10, 2026. These units vest on June 10, 2027 and will be settled in common stock upon or after vesting, subject to any blackout periods and deferral elections. Following this grant, Maestas holds 8,992 common shares directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Maestas Steven

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,698	$0.00	--

Holdings After Transaction: Common Stock — 8,992 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Restricted stock units granted: 2,698 units Grant price per unit: $0.00 per share Shares after transaction: 8,992 shares +1 more

4 metrics

Restricted stock units granted 2,698 units Award to director Steven Maestas on June 10, 2026

Grant price per unit $0.00 per share Equity compensation, not an open-market purchase

Shares after transaction 8,992 shares Direct TXNM common stock holdings following the grant

Vesting date June 10, 2027 Restricted stock units vest and settle in common stock

Key Terms

restricted stock units, blackout period, Director Deferred Right Program

3 terms

restricted stock units financial

"These shares represent restricted stock units granted on June 10, 2026 that will vest on June 10, 2027"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

blackout period financial

"if vesting or any applicable deferred delivery dates occur during a blackout period, the vested shares will be delivered at a later date"

A blackout period is a temporary window when company insiders, employees or certain plan participants are barred from buying or selling the company’s stock, usually around earnings releases or other material events. It matters to investors because it reduces the risk of unfair trading based on secret information and can affect share liquidity and timing—think of it as a “no trading” zone set to keep the market fair and orderly.

Director Deferred Right Program financial

"delivered in accordance with any elections made under the Director Deferred Right Program"

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Maestas Steven

(Last) (First) (Middle)

6724 RIO GRANDE BLVD NW

(Street)

ALBUQUERQUE NEW MEXICO 87107

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TXNM ENERGY INC [ TXNM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/10/2026		A		2,698(1)	A	$0	8,992	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares represent restricted stock units granted on June 10, 2026 that will vest on June 10, 2027 and be settled in common stock upon or after vesting (and delivered in accordance with any elections made under the Director Deferred Right Program), provided that if vesting or any applicable deferred delivery dates occur during a blackout period, the vested shares will be delivered at a later date after such blackout period ends.

Remarks:

	/s/ Donna Briggs, POA for Steven Maestas	06/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did TXNM director Steven Maestas report?

Director Steven Maestas reported receiving 2,698 restricted stock units in TXNM Energy Inc. The award was granted on June 10, 2026 as equity compensation, with no cash paid, and increases his direct common stock holdings reported after the transaction to 8,992 shares.

When do Steven Maestas’s TXNM restricted stock units vest?

The 2,698 restricted stock units granted to Steven Maestas vest on June 10, 2027. After vesting, they are settled in TXNM common stock, with delivery timing potentially affected by any blackout periods and elections under the Director Deferred Right Program.

How many TXNM shares does Steven Maestas hold after this Form 4?

After the reported transaction, Steven Maestas holds 8,992 shares of TXNM common stock directly. This total includes the impact of the 2,698-share restricted stock unit award, which was reported at a price of $0.00 per share as compensation rather than a market purchase.

Was cash paid for the TXNM restricted stock units granted to Maestas?

No cash was paid for these 2,698 restricted stock units, which were granted at a reported price of $0.00 per share. The award represents equity compensation that will convert into TXNM common stock upon or after vesting, subject to the described conditions.

How will blackout periods affect delivery of TXNM shares to Maestas?

If vesting or any elected deferred delivery date falls during a blackout period, TXNM will deliver the shares after the blackout ends. The footnote specifies that vested shares from the 2,698 restricted stock units will be delivered later if a blackout delays normal settlement.