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Filing Details

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
1413000	R Robert Nordhaus	623 East Capitol Street Se Washington DC 20003		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2014-03-14	47	$27.00	15,256	No	4	P	Direct
Common Stock	Acquisiton	2014-08-05	6	$25.01	15,262	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct
No	4	P	Direct

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Options	$0.00			3,050	3,050	Direct
Common Stock	Restricted Stock Rights	$0.00			5,273	5,273	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	3,050	3,050	Direct
	5,273	5,273	Direct

Footnotes

On December 19, 2014, Mr. Nordhaus learned from his investment advisor that two small stock trades had been made earlier on his behalf, despite Mr. Nordhaus' instructions at the time he opened the investment advisory account not to execute trades in the issuer's stock. The two trades were made in a discretionary, separately managed account, and neither Mr. Nordhaus nor his investment advisor had directed the trades or had been aware of them. As soon as Mr. Nordhaus learned of the trades, he immediately contacted the issuer, and this Form 4 was filed as soon as possible thereafter. Steps have been taken by Mr. Nordhaus' investment advisor to assure that this type of situation does not occur again.
Based on the closing price on the date of the grant.
Stock options were awarded on multiple dates. The exercise price associated with each stock option award was based on the closing price of PNM Resources, Inc. common stock on the date of the grant.
The options expire 10 years from grant date.
Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.
The restricted stock units vest in three equal annual installments from grant date of issuance. 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).