---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-22-000012"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2022-03-01T23:59:59+00:00"
generated_at: "2026-06-27T02:46:29.026684+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# PNM Resources EVP Finance retiring July 1; Board approves special bonuses to top executives

## Summary
- Charles N. Eldred, EVP Corporate Development and Finance, retiring effective July 1, 2022; duties reassigned, position not replaced.
- Eldred receives $1,045,000 in exchange for an 18-month restrictive covenant and non-solicitation agreement.
- Board approved one-time cash bonuses: CEO $740,000, EVP $260,000 and SVP GC $140,000 for 2021 leadership including Avangrid merger work.
- LTIP amendments extend pro-rata performance share eligibility on retirement to all named executive officers and full award on qualifying change in control termination.

## SEC filing metadata
- accession: 0001108426-22-000012
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2022-03-01T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842622000012/0001108426-22-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1108426/000110842622000012/pnm-20220301.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-22-000012
- JSON: https://secwatch.observer/filing/0001108426-22-000012.json
- Plain text: https://secwatch.observer/filing/0001108426-22-000012.txt

## Key facts
- Executive change
  Charles N. Eldred departed as Executive Vice President, Corporate Development and Finance at TXNM ENERGY INC.
  - Action: retiring
  - Role: Executive Vice President, Corporate Development and Finance
  source text: On February 28, 2022, Charles N. Eldred, Executive Vice President, Corporate Development and Finance of PNM Resources, Inc. ("PNMR"), Public Service Company of New Mexico ("PNM") and Texas-New Mexico Power Company ("TNMP", and together with PNMR and PNM, the "Company") announced that he is retiring from the Company effective July 1, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108426/000110842622000012/0001108426-22-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.