secwatch.observer — SEC 8-K summary
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Issuer:     TXNM ENERGY INC (TXNM)
CIK:        0001108426
Form:       8-K
Filed at:   2023-12-06T23:59:59+00:00
Accession:  0001108426-23-000059
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1108426/000110842623000059/0001108426-23-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1108426/000110842623000059/pnm-20231206.htm
  HTML page:      https://secwatch.observer/filing/0001108426-23-000059

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer