TXNM Energy approves 2025 executive comp plans, changes LTIP grant timing

TXNM ENERGY INC

CEO annual bonus opportunity: 57.5%-230% of base salary; COO: 45%-180%.
2025 LTIP: 70% performance shares (earnings, TSR, FFO/Debt ratio goals) and 30% time-vested RSRs.
Time-vested RSRs granted Feb 26, 2025, vest over 3 years in 33%/34%/33% tranches; past practice differed.
Amended 2023 and 2024 LTIPs to exclude extraordinary events from FFO/Debt Ratio Goal calculation.
No 2022 LTIP time-vested RSR component granted due to timing change.

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