---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-23-000059"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2023-12-06T23:59:59+00:00"
generated_at: "2026-06-07T16:48:11.452589+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# PNM Resources appoints new controller; retention bonuses for CEO, President, and GC tied to Avangrid merger

## Summary
- Henry Monroy stepped down as VP and Corporate Controller (principal accounting officer), stays as VP of regulatory at utility subsidiary; no disagreement.
- Gerald Bischoff appointed VP and Controller (principal accounting officer); joined PNM in 2005, most recently Director of SEC Reporting.
- CEO Collawn gets $375K cash plus 26,766 RSUs; GC Apodaca gets $125K plus 8,922 RSUs; President Tarry gets $1M cash with staggered vesting.
- Retention bonuses vest at earliest of 24 months, Avangrid merger close, or 6 months after deal abandonment; to retain executives during pending transaction.

## SEC filing metadata
- accession: 0001108426-23-000059
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2023-12-06T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842623000059/0001108426-23-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1108426/000110842623000059/pnm-20231206.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-23-000059
- JSON: https://secwatch.observer/filing/0001108426-23-000059.json
- Plain text: https://secwatch.observer/filing/0001108426-23-000059.txt

## Key facts
- Executive change
  Henry E. Monroy departed as Vice President and Corporate Controller at TXNM ENERGY INC.
  - Action: stepped down
  - Role: Vice President and Corporate Controller
  source text: On December 5, 2023, Henry E. Monroy, Vice President and Corporate Controller of PNM Resources, Inc. (the “Company”) stepped down from his role as the Company’s Vice President and Corporate Controller, which includes serving as the Company’s principal accounting officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108426/000110842623000059/0001108426-23-000059-index.htm
- Executive change
  Gerald Robert Bischoff was appointed as Vice President and Controller at TXNM ENERGY INC.
  - Action: appointed
  - Role: Vice President and Controller
  source text: On December 5, 2023, the Company appointed Gerald Robert Bischoff to succeed Mr. Monroy as its Vice President and Controller, which includes serving as the Company’s principal accounting officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108426/000110842623000059/0001108426-23-000059-index.htm

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