Highest-materiality recent filing
NMPRC voids $400M PIPE investment in TXNM merger, orders unwinding and $300K penalty
NMPRC final order declares PIPE Transaction void for lack of prior approval under New Mexico Public Utility Act.
TXNM shareholders elect all 10 director nominees, ratify KPMG, approve say-on-pay
All director nominees elected with ~88M votes each; broker non-votes ~8.3M.
TNMP rate settlement recovers $2.8B rate base, maintains 9.65% ROE, 45% equity ratio; subject to PUCT approval.
TXNM Energy Q1 ongoing EPS $0.21; capital plan $10.2B; Blackstone deal on track for H2 2026
GAAP net earnings $3.7M ($0.03 EPS); ongoing net earnings $23.8M ($0.21 EPS) vs Q1 2025 $0.10/$0.19.
Convertible notes (5.75% due 2054) convertible from April 1 to June 30, 2026, at conversion price of ~$44.37/share.
TXNM Energy enters $125M at-the-market equity distribution agreement
Company may sell up to $125M of common stock through BofA, MUFG and Scotia Capital as sales agents.
TXNM Energy approves 2026 executive incentive plans with bonus and LTIP ranges
2026 Annual Incentive Plan: cash bonuses based on Incentive EPS threshold; CEO/Exec Chair bonus range 57.5%-230% of salary.
TXNM Energy reports 2025 EPS $1.48 GAAP, $2.33 ongoing; Blackstone acquisition progresses
2025 GAAP diluted EPS $1.48 vs $2.67 in 2024; ongoing diluted EPS $2.33 vs $2.74.
TXNM Energy announces Q1 2026 conversion period for 5.75% convertible notes at $44.40/share
Conversion period Jan 1–Mar 31, 2026; trigger: stock price above 130% of $44.40 conversion price for 20 of 30 days.
TXNM Energy subsidiaries issue $70M bonds, extend credit lines, and complete $91.9M pension transfer
TNMP issued $70M of 4.69% first mortgage bonds due 2031; proceeds for debt repayment and capex.
TXNM Energy issues $350M of 7% junior subordinated convertible notes due 2056
$350M aggregate principal at 7.000% fixed through Jul 31, 2031, then 5Y Treasury + 3.254% floor 7.000%.
Commenced marketing for private offering of fixed-to-fixed reset rate junior subordinated notes (Rule 144A/Reg S).
TXNM Energy subsidiary issues $70M 4.69% senior secured bonds due 2031
TNMP issues $70M 4.69% First Mortgage Bonds due Dec 18, 2031 in private placement.
PNM enters $120M term loan to refinance maturing 2024 term loan
$120M term loan effective Nov 10, 2025, matures May 10, 2027.
TNMP amends key covenants in First Mortgage Indenture via Twenty-Fifth Supplemental Indenture
Texas-New Mexico Power Company entered Twenty-Fifth Supplemental Indenture on Nov 6, 2025, with U.S. Bank Trust as trustee.
TXNM Energy Q3 GAAP EPS $1.22, ongoing $1.33; Blackstone deal shareholder-approved
Q3 GAAP diluted EPS $1.22 vs $1.45 YoY; ongoing EPS $1.33 vs $1.43 YoY.
TXNM Energy repays and terminates $500M term loan effective August 29, 2025
Repaid $500M term loan in full and terminated agreement on August 29, 2025.
TXNM shareholders approve $61.25/sh acquisition by Blackstone Infrastructure; 99.6% vote in favor
Over 92.9M shares voted for the merger (99.6% of votes cast; 88.2% of outstanding shares).
TXNM Energy enters $200M ATM common stock offering program
August 15, 2025 Distribution Agreement for up to $200M in common stock at-the-market offerings.
Q2 2025 GAAP diluted EPS $0.22 vs $0.53 Q2 2024; ongoing diluted EPS $0.25 vs $0.60.
TXNM Energy subsidiary terminates $1.505B backstop term loan upon repayment
Texas-New Mexico Power Company repaid and terminated its $1.505B 364-day delayed-draw term loan on July 22, 2025.
Six tranches: $245M 4.83% due 2030, $245M 5.12% due 2032, $240M 5.44% due 2035, $100M 5.54% due 2037, $154.3M 5.93% due 2045, $100M 6.02% due 2055.
TXNM raises $200M via private placement to Zimmer affiliates; shares at $55.325
TXNM issued 3,615,003 shares at $55.325/share to Zimmer Partners and other purchasers for ~$200M.
TNMP completes prepayment of $1.084B in First Mortgage Bonds
Offered to prepay $1.505B aggregate principal; $1.084B validly tendered and accepted.
TXNM amends credit agreements to waive change-of-control default triggered by pending merger
Amended $300M revolver, $500M term loan, and $30.3M LOC to exclude merger with Troy ParentCo from change-of-control definition.
TXNM Energy unregistered equity sale to BIP; commission up to 1%
Securities sold under Stock Purchase Agreement in reliance on Section 4(a)(2) exemption.
TXNM Energy to be acquired by Blackstone Infrastructure Partners for $61.25 per share in cash
Merger agreement signed May 18, 2025; TXNM shareholders to receive $61.25/share cash, no financing condition.
PNM and TNMP receive rate approvals; PNM $105M revenue increase, TNMP $25M annual increase
PNM's $105.0M revenue requirement increase approved by NMPRC, based on 9.45% ROE and 51% equity on $3.0B rate base.
TXNM Energy names Don Tarry CEO, Pat Collawn to Executive Chair effective July 1, 2025
Patricia K. Collawn transitions from CEO to Executive Chair; Joseph D. Tarry named President and CEO effective July 1, 2025.
GAAP net earnings $8.9M ($0.10/diluted), down from $47.2M ($0.52) in Q1 2024.
PNM issues $300M senior unsecured notes; $125M 5.75% due 2032, $175M 6.13% due 2037
Proceeds used for debt repayment, capex, and general corporate purposes.
TXNM Energy approves 2025 executive comp plans, changes LTIP grant timing
CEO annual bonus opportunity: 57.5%-230% of base salary; COO: 45%-180%.
2024 GAAP diluted EPS $2.67; ongoing diluted EPS $2.74, achieving narrowed guidance for high end.
TNMP issues $140M of 5.19% First Mortgage Bonds due 2031 for debt refinancing
$140M aggregate principal, 5.19% fixed rate, due April 1, 2031.
PNM signs $195M term loan due July 2026 to refinance revolver balances
Public Service Co. of New Mexico entered a $195M term loan agreement on Jan 21, 2025.
TXNM Energy elects President/COO Joseph Tarry to Board; raises his base salary to $725,000
Joseph D. Tarry, 53, appointed to Board effective Dec 3, 2024, filling newly created 11th seat.
TXNM Energy Q3 GAAP EPS $1.45, ongoing EPS $1.43; narrows FY2024 guidance to $2.70-$2.75
GAAP diluted EPS of $1.45 in Q3 2024 (vs $0.44 in Q3 2023), helped by prior-year $115M rate credit charge.
TXNM CFO Elisabeth A. Eden to retire; effective no sooner than March 15, 2025
Eden announced retirement on September 20, 2024; will remain CFO until successor is identified.
TXNM Energy increases CFO base salary and target bonuses for COO and CFO
COO Joseph Tarry's target annual cash incentive raised to 75% of base salary (from 70%).
TXNM Energy names Brian Iverson as General Counsel to succeed retiring Patrick Apodaca
Iverson to assume role as General Counsel, SVP Regulatory & Public Policy, and Corporate Secretary no later than Sept 16, 2024.
TXNM Energy upsizes ATM equity program to $300M, completes name change and share increase
At-the-market equity distribution agreement upsized from $100M to $300M; $290M remaining after $10M of shares sold.
TXNM Energy upsizes ATM equity program to $300M, changes name from PNM Resources
ATM capacity increased from $100M to $300M; $290M remains available as of Aug 5.
PNM Resources Q2 ongoing EPS $0.60 beats prior year; affirms FY2024 guidance $2.65-$2.75
Q2 2024 GAAP diluted EPS $0.53 (flat YoY); ongoing diluted EPS $0.60, up from $0.55.
TNMP issues $168M in first mortgage bonds (5.65%-5.79%) due 2039/2054
Issued $40M of 5.65% Series 2024D bonds due July 1, 2039, and $128M of 5.79% Series 2024E bonds due July 1, 2054.
PNM Resources issues additional $50M of 5.75% convertible notes due 2054, total $550M
Issued $50M aggregate principal of 5.75% Junior Subordinated Convertible Notes due 2054 under over-allotment option.
PNM Resources issues $500M (plus $50M over-allotment) 5.75% convertible notes due 2054
Issued $500M aggregate principal of 5.75% Junior Subordinated Convertible Notes due June 1, 2054; interest payable semi-annually.
PNM Resources prices $500M of 5.75% convertible notes due 2054, proceeds to repay term loans
Raised $500M (plus $50M over-allotment) of 5.75% junior subordinated convertible notes maturing June 1, 2054.
PNM Resources shareholders approve name change to TXNM Energy, Inc.
All 10 director nominees elected with 76M–77M votes for each; no dissident campaign.
PNM Resources announces $500M offering of junior subordinated convertible notes due 2054
Offering $500M aggregate principal of junior subordinated convertible notes due 2054; underwriters may purchase up to $50M additional for over-allotments.
PNM Resources subsidiary enters $200M term loan agreement due Nov 2025
Public Service Company of New Mexico borrows $200M under term loan due November 10, 2025.
Ms. Elisabeth A. Eden, Senior Vice President, Finance, announced her intention to retire, effective as of a date that is mutually agreeable between Ms. Eden and TXNM.
On May 18, 2025, the Board, upon the recommendation of the Nominating and Governance Committee (“NGC”), elected Henry E. Monroy, Vice President, Regulatory, of TXNM’s wholly-owned utility subsidiary, Public Service Company of New Mexico (“PNM”), as TXNM’s Senior Vice President and Chief Financial Officer (Principal Financial Officer), effective as of May 19, 2025, following Ms. Eden’s retirement from such role.
elected Joseph D. Tarry, President and Chief Operating Officer, effective as of July 1, 2025, as Chief Executive Officer and President (Principal Executive Officer).
elected Patricia K. Collawn, Chairman and Chief Executive Officer, as Executive Chairman (an executive officer position), effective as of July 1, 2025.
On September 20, 2024, Ms. Elisabeth A. Eden announced her intention to retire as Senior Vice President and Chief Financial Officer of TXNM Energy, Inc., a New Mexico corporation (“TXNM”), effective as of a date that is mutually agreeable between Ms. Eden and TXNM after a suitable successor is identified, currently anticipated to be no sooner than March 15, 2025 (the “Effective Date”).
Having identified Mr. Iverson as Mr. Apodaca’s successor, Mr. Apodaca’s retirement will be effective as of the Start Date.
On August 12, 2024, the Company appointed Brian G. Iverson to succeed Patrick Apodaca as its General Counsel, Senior Vice President Regulatory and Public Policy, and Corporate Secretary, effective upon his commencement of employment with the Company, which is anticipated to be no later than September 16, 2024 (the “Start Date”).
On March 26, 2024, Mr. Patrick Apodaca announced his intention to retire as Senior Vice President and General Counsel of PNM Resources, Inc., a New Mexico corporation (“PNMR”), effective as of a date that is mutually agreeable between Mr. Apodaca and PNMR after a suitable successor is identified, currently anticipated to be no sooner than July 2, 2024 (the “Effective Date”).
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.
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.
On June 1, 2023, Ronald N. Darnell, Senior Vice President, Public Policy of PNM Resources, Inc. (the “Company”), notified the Company that he is retiring from the Company and positions held at the Company's subsidiaries effective July 10, 2023.
On July 18, 2022, Chris M. Olson, Senior Vice President, Utility Operations, 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”), notified the Company that he is retiring from the Company effective September 10, 2022.
Max materiality 1.00 · Median 0.60 · Most common event debt