secwatch.observer — SEC 8-K summary
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Issuer:     TXNM ENERGY INC (TXNM)
CIK:        0001108426
Form:       8-K
Filed at:   2025-02-27T23:59:59+00:00
Accession:  0001108426-25-000010
Event type: other
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1108426/000110842625000010/0001108426-25-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1108426/000110842625000010/pnm-20250227.htm
  HTML page:      https://secwatch.observer/filing/0001108426-25-000010

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