Bischoff Gerald R sold PNM
March 7, 2024 · Form 4 insider transaction
Bischoff Gerald R sold 47 shares of PNM Resources, Inc. at $37.74 per share, a transaction worth $1.8K. The trade was recorded as shares withheld for taxes and disclosed on an SEC Form 4, filed 1 day after the transaction.
Footnotes
Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy 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 equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.