TXNM Energy, Inc.

TXNM Energy, Inc. is a publicly traded company listed on the New York Stock Exchange, and its shareholder base consists of a broad public float together with institutional investors that must disclose significant stakes to the U.S. Securities and Exchange Commission. A complete shareholder register is not published; only holdings that cross applicable disclosure thresholds are publicly reported, so the information below reflects major shareholders only rather than the company’s full base of holders.

The largest disclosed holder is BlackRock, Inc., which reported beneficial ownership of 12,545,112 shares, equal to 11.5% of the outstanding common stock, in a Schedule 13G/A filed with the SEC on 24 April 2026, held in a passive capacity with sole dispositive power. Vanguard Capital Management separately reported beneficial ownership of 5,504,019 shares, equal to 5.05% of the class, in a Schedule 13G filed with the SEC on 30 April 2026, also held passively. Zavia’s registry additionally lists smaller, more recently dated (4 September 2026) individual fund-level holdings, including positions held by Vanguard-affiliated index funds, an iShares Trust exchange-traded fund, a Fidelity index fund and Reaves (W.H.) & Company, each individually below 5% of the class; these fund-level figures are not consolidated to the parent investment-adviser level shown in the SEC filings above, so some overlap with the BlackRock and Vanguard positions should be expected rather than treated as separate, additional ownership.

No natural person has been identified as a beneficial owner of TXNM Energy, Inc. in any source reviewed; every disclosed shareholder is an investment company, fund or asset manager, consistent with a widely held, exchange-listed stock rather than concentrated private ownership. No verified ultimate beneficial owner can therefore be reported.

Data availability: shareholder information for TXNM Energy, Inc. is major shareholders only. Complete, unabridged share registers are not published for U.S. listed companies; disclosure instead follows SEC beneficial-ownership reporting thresholds, so smaller holders and members of the public float are not individually identified.

TXNM Energy, Inc.’s filings with the New Mexico Secretary of State include a substantial number of historical and current officer and director records, most recently synced 9 September 2026, only a sample of which is shown in the structured profile above. The “Active” status recorded against some of these entries reflects that state filing and may not represent the company’s present board and executive slate.

The company’s own website identifies its current board of directors as Patricia K. Collawn (Executive Chair), Joseph D. “Don” Tarry (President and Chief Executive Officer), Norman P. Becker (Lead Director), and directors Vicky A. Bailey, E. Renae Conley, Sidney M. Gutierrez, James A. Hughes, Steven C. Maestas, Lillian M. Montoya and Maureen T. Mullarkey. Listed executive officers include Henry E. Monroy as Senior Vice President and Chief Financial Officer and Brian Iverson as General Counsel, Senior Vice President of Regulatory and Public Policy, and Corporate Secretary. Monique Jacobson (Senior Vice President of Corporate Services) and Lisa Goodman (Vice President of Investor and Community Relations) appear in both the company’s website and the state filing with matching titles, supporting identification of the correct legal entity.

The most recent verified change in senior leadership took effect on 1 July 2025, when Joseph D. Tarry became President and Chief Executive Officer, succeeding Patricia K. Collawn, who moved to the role of Executive Chair of the board; the transition was announced by the company on 14 May 2025.

Nationality is not disclosed for any officer or director in the sources reviewed, and none has been inferred from name, address or residence. Addresses recorded in New Mexico Secretary of State filings for individual officers are correspondence or service addresses rather than residential addresses and are not used here to determine residence or nationality. Officer and director information for this New Mexico-registered company is best described as partial: the state filing does not clearly distinguish current from historical appointees, and neither country of residence nor nationality is a disclosed field in New Mexico corporate filings.

TXNM Energy, Inc. sits at the top of its own verified corporate group; no entity currently holds a controlling stake sufficient to be identified as its parent, and its common stock is listed on the New York Stock Exchange and held by a wide public and institutional shareholder base. In May 2025 the company agreed to be acquired by affiliates of Blackstone Infrastructure, but that transaction had not closed as of the information date and is addressed under recent structural changes below rather than as a current parent relationship.

According to the exhibit of subsidiaries filed with TXNM Energy, Inc.’s Form 10-K for the year ended 31 December 2025, the company directly or indirectly owns all of the voting securities of, among others, Public Service Company of New Mexico, PNM Energy Transition Bond Company I, LLC, TNP Enterprises, Inc. and Texas-New Mexico Power Company. Public Service Company of New Mexico and PNM Energy Transition Bond Company I, LLC, both organised in New Mexico, are direct, wholly owned subsidiaries. TNP Enterprises, Inc., a Texas corporation, is a direct, wholly owned subsidiary that in turn wholly owns Texas-New Mexico Power Company, also a Texas corporation, making Texas-New Mexico Power Company an indirect, wholly owned subsidiary of TXNM Energy, Inc. Zavia’s registry additionally records PNMR Services Company, Avistar, Inc. and Sunterra Gas Gathering Company as New Mexico-registered subsidiaries and TNP Operating Company as a subsidiary of TNP Enterprises, Inc.; the company’s own securities filings describe these, respectively, as a shared-services provider to the group and inactive non-utility subsidiaries, though they fall below the threshold for individual disclosure in the FY2025 subsidiaries exhibit.

The group’s principal operations are concentrated in two jurisdictions, New Mexico and Texas, corresponding to the service territories of Public Service Company of New Mexico and Texas-New Mexico Power Company respectively.

Recent structural change: on 19 May 2025, TXNM Energy, Inc. agreed to be acquired by affiliates of Blackstone Infrastructure for $61.25 per share in cash. By February 2026 the transaction had received U.S. federal antitrust clearance, Federal Energy Regulatory Commission approval and Texas state regulatory approval, but remained subject to New Mexico Public Regulation Commission and Nuclear Regulatory Commission approval, with closing expected in the second half of 2026. If completed, TXNM Energy, Inc. would become a subsidiary of the acquiring Blackstone Infrastructure affiliates; this had not occurred as of the information date. Separately, in July 2026 the New Mexico Public Regulation Commission found that a $400 million stock purchase connected to this transaction had been completed without its required prior approval and ordered it unwound, a ruling the parties have said they are reviewing.

Data availability: corporate-linkage information for TXNM Energy, Inc. is full at the immediate level, based on its own SEC subsidiaries exhibit and Zavia’s registry, though ownership percentages for indirect and smaller non-utility subsidiaries are not separately disclosed.