Form 4: TXNM Energy CEO Patricia Collawn Reports Stock Transactions
SEC Form 4
Patricia Collawn, Chairman and CEO of TXNM Energy, reports the vesting of restricted stock rights and shares withheld for tax obligations.
Summary
- On August 2, 2024, Patricia Collawn, Chairman and CEO of TXNM Energy Inc., reported transactions involving the company's stock.
- These transactions include the vesting of 26,766 restricted stock rights, resulting in the acquisition of common stock.
- Additionally, 12,112 shares were withheld by TXNM Energy to cover tax obligations related to the settlement of equity awards at a price of $41.77 per share.
- Following these transactions, Collawn directly owns 721,731 shares of TXNM Energy common stock and 43,732 restricted stock rights.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock transactions. It does not provide any insight into the industry.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in ownership by a key executive.
- Employees holding similar equity awards may be interested in the details of the tax withholding process.
Key Dates
| Date | Description |
|---|---|
| December 5, 2023 | Reporting person was granted 26,766 restricted stock rights. |
| December 31, 2023 | Avangrid, Inc. informed TXNM Energy that it was terminating the Transaction. |
| August 2, 2024 | Date of stock transactions: vesting of restricted stock rights and shares withheld for taxes. |
| August 6, 2024 | Date of report. |
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