Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Approval of Certain Executive Compensation Changes
On August 13, 2024, the Compensation and Human Capital Committee of the Board of Directors of TXNM Energy, Inc. (formerly PNM Resources, Inc.) (the "Company") approved the following compensation changes for Joseph D. Tarry, the Company's President and Chief Operating Officer, and Elisabeth A. Eden, the Company's Senior Vice President and Chief Financial Officer, in each case effective as of July 1, 2024: (i) an increase in Mr. Tarry's target annual cash incentive award opportunity to 75% of his annual base salary (from 70% of his annual base salary), (ii) an increase in Ms. Eden's target annual cash incentive award opportunity to 65% of her annual base salary (from 60% of her annual base salary), and (iii) an increase in Ms. Eden's annual base salary to $450,000 (from $421,312).