# EDGAR Filing Document

**Accession Number:** 0001108426
**File Stem:** 0001108426-25-000102
**Filing Date:** 2025-8
**Character Count:** 15025
**Document Hash:** c638cd6c8026291c7b5b6b0a06b911e9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001108426-25-000102.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001108426-25-000102

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250828

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TXNM ENERGY INC
- **CENTRAL INDEX KEY:** 0001108426
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 850019030
- **STATE OF INCORPORATION:** NM
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32462
- **FILM NUMBER:** 251273694

**BUSINESS ADDRESS:**
- **STREET 1:** 414 SILVER AVE. SW
- **CITY:** ALBUQUERQUE
- **STATE:** NM
- **ZIP:** 87102-3289
- **BUSINESS PHONE:** 5052412700

**MAIL ADDRESS:**
- **STREET 1:** 414 SILVER AVE. SW
- **STREET 2:** ATTN: MS 1045 - ROBERT BISCHOFF
- **CITY:** ALBUQUERQUE
- **STATE:** NM
- **ZIP:** 87102-3289

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PNM RESOURCES INC
- **DATE OF NAME CHANGE:** 20010618

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANZANO CORP
- **DATE OF NAME CHANGE:** 20000303

?xml version='1.0' encoding='ASCII'? pnm-20250828

---

| | |
|:---|:---|
| **UNITED STATES** | **UNITED STATES** |
| **SECURITIES AND EXCHANGE COMMISSION** | **SECURITIES AND EXCHANGE COMMISSION** |
| **Washington, D.C. 20549** | **Washington, D.C. 20549** |
| **FORM** | **8-K** |
| **CURRENT REPORT** | **CURRENT REPORT** |
| **Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934** | **Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934** |

---

Date of Report (Date of earliest event reported) August 28, 2025 <br> <u>(August 28, 2025)</u>

<u>Name of Registrant</u>, <u>State of Incorporation</u>, <u>Address Of Principal Executive Offices</u>, <u>Telephone Number</u>, <u>Commission File No.</u>, <u>IRS Employer Identification No.</u><br>

**TXNM Energy, Inc.**

(A New Mexico Corporation)

414 Silver Ave. SW

Albuquerque, New Mexico 87102-3289

Telephone Number - (505) 241-2700

Commission File No. - 001-32462

IRS Employer Identification No. - 85-0468296

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 40.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 40.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | | |
|:---|:---|:---|:---|
| <u>Registrant</u> | <u>Title of each class</u> | <u>Trading Symbol(s)</u> | <u>Name of exchange on which registered</u> |
| TXNM Energy, Inc. | Common Stock, no par value | TXNM | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 5.07. &nbsp;&nbsp;&nbsp;&nbsp;Submission of Matters to a Vote of Security Holders.**

On August 28, 2025, TXNM Energy, Inc. ("TXNM") held a special meeting of shareholders (the "Special Meeting"). At the Special Meeting, TXNM's shareholders voted on the following proposals set forth in TXNM's definitive proxy statement filed with the U.S. Securities and Exchange Commission (the "SEC") on July 21, 2025, as supplemented and amended by the definitive additional materials filed with the SEC on August 19, 2025 (the "Proxy Statement"), relating to the proposed acquisition of TXNM by affiliates of Blackstone Infrastructure Partners L.P.

As of the close of business on July 17, 2025, the record date for the Special Meeting, TXNM had a total of 105,378,979 shares of common stock outstanding and entitled to vote at the Special Meeting, of which 93,339,040 shares were represented at the Special Meeting in person or by proxy.

TXNM did not receive notice that any shareholder intended to seek dissenter's rights, which a shareholder who wanted to pursue dissenter's rights was required to do by New Mexico corporation law.

Set forth below are the final voting results for each of the proposals submitted to a vote of TXNM's shareholders at the Special Meeting. Under state law abstentions have the effect of a vote against the matter. A detailed discussion of each of these proposals can be found in the Proxy Statement.

**Proposal 1: Merger Proposal** 

TXNM's shareholders approved the Agreement and Plan of Merger, dated as of May 18, 2025, by and among TXNM, Troy ParentCo LLC, and Troy Merger Sub Inc. (the "Merger Agreement"), by the vote indicated below:

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| | | | |
|:---|:---|:---|:---|
| **<u>Votes For</u>** | **<u>Votes Against</u>** | **<u>Abstentions</u>** | **<u>Broker<br>Non-Votes</u>** |
| 92,921,678 | 347,430 | 69,932 | 0 |

---

**Proposal 2: Advisory Vote on Merger-Related Compensation**

TXNM's shareholders approved, on a non-binding, advisory basis, certain compensation arrangements for TXNM's named executive officers in connection with the merger contemplated by the Merger Agreement, by the vote indicated below:

---

| | | | |
|:---|:---|:---|:---|
| **<u>Votes For</u>** | **<u>Votes Against</u>** | **<u>Abstentions</u>** | **<u>Broker<br>Non-Votes</u>** |
| 86,771,502 | 6,326,255 | 241,283 | 0 |

---

In connection with the Special Meeting, TXNM also solicited proxies with respect to Proposal 3 to approve one or more adjournments of the Special Meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the Special Meeting to approve the Merger Agreement. As there were sufficient votes at the time of the Special Meeting to adopt the Merger Agreement, the adjournment proposal was rendered moot and was not presented at the Special Meeting.

**Item 7.01. Regulation FD Disclosure.**

On August 28, 2025, the Company issued a press release announcing the results of the shareholder vote at the Special Meeting. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated into this Item 7.01 by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific references in such a filing.

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**Item 9.01 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.**

(d) Exhibits:

**Exhibit Number &nbsp;&nbsp;&nbsp;&nbsp;Description**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1&nbsp;&nbsp;&nbsp;&nbsp;<u>[Press Rele](a08282025txnmex991.htm)[ase, dated August 28, 2025](a08282025txnmex991.htm)</u>.

104&nbsp;&nbsp;&nbsp;&nbsp; Cover Page Interactive Data File (embedded within the Inline XBRL document)

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**<u>SIGNATURE</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | |
|:---|:---|
| | **TXNM ENERGY, INC.** |
| | (Registrant) |
| Date: August 28, 2025 | /s/ Gerald R. Bischoff |
| | Gerald R. Bischoff |
| | Vice President and Corporate Controller |
| | (Officer duly authorized to sign this report) |

---

## Exhibit 99.1

![image_0a.jpg](image_0a.jpg)

**For Immediate Release**

August 28, 2025

TXNM Energy Shareholders Overwhelmingly Approve Acquisition by Blackstone Infrastructure

**(ALBUQUERQUE, N.M.)** – TXNM Energy (NYSE: TXNM) shareholders voted overwhelmingly to approve the agreement under which Blackstone Infrastructure will acquire TXNM Energy at a special shareholders meeting held earlier today. Under the terms of the proposed agreement, TXNM Energy shareholders will receive $61.25 in cash for each share of TXNM Energy common stock held at closing.

Of the shares voted, 99.6 percent voted to approve the proposed agreement, reflecting 88.2 percent of shares issued and outstanding on the record date. TXNM Energy will report the final vote results in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

Regulatory approvals from the New Mexico Public Regulation Commission, Public Utility Commission of Texas, Federal Energy Regulatory Commission, Department of Justice (Hart Scott-Rodino Clearance), Nuclear Regulatory Commission and Federal Communications Commission are being pursued.

TXNM Energy continues to anticipate that the closing of the acquisition will occur in the second half of 2026, subject to the satisfaction or waiver of the customary closing conditions, including among other things, receipt of required state and federal regulatory approvals.

**About TXNM Energy:**

TXNM Energy (NYSE: TXNM), an energy holding company based in Albuquerque, New Mexico, delivers energy to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. For more information, visit the company's website at <u>www.TXNMEnergy.com</u>.

Contacts:

Analysts&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Media

Lisa Goodman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Communications

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(505) 241-2160&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(505) 241-2743

------

**FORWARD-LOOKING STATEMENTS**

This press release contains forward-looking statements. Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "should," "can," "expects," "believes," "anticipates," "intends," "plans," "estimates," "projects," "assumes," "guides," "targets," "forecasts," "is confident that" and "seeks" or the negative of such terms or other variations on such terms or comparable terminology. These forward-looking statements generally include statements regarding the proposed merger, including any statements regarding the expected timetable for completing the proposed transaction, the ability to complete the merger, the expected benefits of the merger, projected financial information, future opportunities, and any other statements regarding TXNM Energy's and Blackstone Infrastructure's future expectations, beliefs, plans, objectives, results of operations, financial condition and cash flows, or future events or performance. Readers are cautioned that all forward-looking statements are based upon current expectations and estimates. TXNM Energy's business, financial condition, cash flow, and operating results are influenced by many factors, which are often beyond its control, that can cause actual results to differ from those expressed or implied by the forward-looking statements. In addition to any assumptions and other factors referred to specifically in connection with such forward-looking statements, factors that could cause our actual results to differ materially from those contemplated in any forward-looking statements include, among others, the following: the failure of Blackstone Infrastructure to obtain any equity, debt or other financing necessary to complete the merger, the expected timing and likelihood of completion of the pending merger, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending merger that could reduce anticipated benefits or cause the parties to abandon the transaction, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, including in circumstances requiring TXNM Energy to pay a termination fee, the risk that the parties may not be able to satisfy the conditions to the proposed merger in a timely manner or at all; the receipt of an unsolicited offer from another party to acquire our assets or capital stock that could interfere with the merger, the outcome of any legal proceedings, regulatory proceedings or enforcement matters that may be instituted relating to the merger, risks related to disruption of management time from ongoing business operations due to the proposed merger, the risk that the proposed transaction and its announcement could have an adverse effect on the ability of TXNM Energy to retain and hire key personnel and maintain relationships with its customers and suppliers, and on its operating results and businesses generally, the announcement and pendency of the merger, during which TXNM Energy is subject to certain operating restrictions, could have an adverse effect on TXNM Energy's businesses, results of operations, financial condition or cash flows, the costs incurred to consummate the merger, the risk that the price of TXNM Energy's common stock may fluctuate during the pendency of the proposed transaction and may decline significantly if the proposed transaction is not completed, and other risks detailed in TXNM Energy's filings with the Securities and Exchange Commission, including its most recent Form 10-K for the fiscal year ended December 31, 2024, and in subsequently filed Forms 10-Q and 8-K, the Proxy Statement and in any other documents filed by TXNM Energy with the Securities and Exchange Commission after the date thereof.

Any such forward-looking statement is qualified by reference to these risks and factors. TXNM Energy cautions against putting undue reliance on forward-looking statements or projecting any future results based on such statements. Forward-looking statements speak only as of the date of the particular statement, and TXNM Energy does not undertake to update any forward-looking statement contained herein.

<br>