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Filing Details

Accession Number:: 0001108426-14-000034
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2014-03-07 13:23:48
Reporting Period:: 2014-03-05

Filing Date:: 2014-03-07
Accepted Time:: 2014-03-07 13:23:48
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1108426	Pnm Resources Inc	PNM	Electric Services (4911)	850019030

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1269073	G Thomas Sategna	Corporate Headquarters Ms 1275 Albuquerque NM 87158-1275	Vp And Corp Cntrl	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2014-03-05	2,311	$26.21	2,311	No	4	M	Direct
Common Stock	Disposition	2014-03-05	744	$26.21	1,567	No	4	F	Direct
Common Stock	Acquisiton	2014-03-05	4,230	$26.21	5,797	No	4	A	Direct
Common Stock	Disposition	2014-03-05	1,361	$26.21	4,436	No	4	F	Direct
Common Stock	Acquisiton	2014-03-05	6,000	$24.06	10,436	No	4	M	Direct
Common Stock	Disposition	2014-03-05	6,000	$26.25	4,436	No	4	S	Direct
Common Stock	Acquisiton	2014-03-06	440	$26.12	4,876	No	4	M	Direct
Common Stock	Disposition	2014-03-06	142	$26.12	4,734	No	4	F	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	F	Direct
No	4	A	Direct
No	4	F	Direct
No	4	M	Direct
No	4	S	Direct
No	4	M	Direct
No	4	F	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Options	Disposition	2014-03-05	6,000	$0.00	6,000	$0.00
Common Stock	Restricted Stock Rights	Disposition	2014-03-05	0	$0.00	1,194	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
12,000			No	4	M	Direct
2,614			No	4	A	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Phantom Stock Shares	$0.00			12,847	12,847	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	12,847	12,847	Indirect

Footnotes

Represents the portion of a previous award of restricted stock rights that vested effective March 5 and 6, 2014.
Due to rounding up and the broker's liquidation of a fractional share remaining at the time of settlement of Mr. Sategna's last sale reported on his Form 4 filed March 13, 2013, Mr. Sategna's total holding now reflects a one share reduction from that reported on March 13, 2013.
Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the vesting of the restricted stock rights referenced in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of restricted stock rights upon vesting, in which it (i) withholds (in cash) the amount required to satisfy the tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of the vested restricted stock rights award at the prevailing market price. Only these "net shares" are delivered to the recipient of the award.
The performance shares were earned as of December 31, 2013, as determined effective February 27, 2014.
Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (3) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, in which it (i) withholds (in cash) the amount required to satisfy the tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.
Based on the closing price on the date of the grant.
The options vest in three equal annual installments from grant date.
The options expire 10 years from grant date.
The security converts to common stock on a one-for-one basis.
The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.
Total represents phantom stock shares of PNM Resources, Inc. Common Stock acquired under the PNM Resources, Inc. Executive Savings Plan II as of February 28, 2014.
Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.
Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock. The remaining restricted stock units vest in two equal annual installments, beginning on March 5, 2015. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).
Mr. Sategna's total unvested restricted stock rights was incorrectly reported as 5,245 in his Form 4s filed March 8 and March 13, 2013 when it should have been reported as 4,171 restricted stock rights. However, the previous Form 4s correctly reported all relevant transactions for the restricted stock rights.