Companies Txnm Energy Inc
Txnm Energy (PNM): executive pay, fiscal 2025
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CEO pay, last three years
- $2,328,520FY2023
- $2,904,377FY2024
- $3,903,948FY2025
CEO total pay was $3,903,948 in fiscal 2025, up from $2,904,377 in fiscal 2024.
FY2025: salary $839,462 · bonus $0 · stock awards $2,275,011 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Patricia Collawn | $1,191,299 | $0 | $2,902,939 | $0 | $689,632 | $0 | $436,127 | $5,219,997 |
| Executive Chairman | ||||||||
| Joseph Tarry | 839,462 | 0 | 2,275,011 | 0 | 495,058 | 1,685 | 292,732 | 3,903,948 |
| President and CEO | ||||||||
| Brian Iverson | 463,846 | 82,052 | 583,874 | 0 | 163,800 | 0 | 123,067 | 1,416,639 |
| General Counsel, SVP, Regulatory & Public Policy | ||||||||
| Elisabeth Eden | 341,131 | 70,000 | 367,586 | 0 | 105,012 | 0 | 132,036 | 1,015,765 |
| former SVP & Chief Financial Officer | ||||||||
| Henry Monroy | 363,495 | 60,000 | 353,234 | 0 | 100,946 | 0 | 94,635 | 972,310 |
| SVP & Chief Financial Officer | ||||||||
| Monique Jacobson | 276,923 | 0 | 351,821 | 0 | 93,315 | 0 | 53,488 | 775,547 |
| SVP, Corporate Services | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Patricia Collawn | $5,219,997 | $5,626,175 | $7,670,833 | ↓ −406,178 |
| Joseph Tarry | 3,903,948 | 2,904,377 | 2,328,520 | ↑ +999,571 |
| Brian Iverson | 1,416,639 | 1,075,798 | — | ↑ +340,841 |
| Elisabeth Eden | 1,015,765 | 1,239,821 | 1,272,990 | ↓ −224,056 |
| Henry Monroy | 972,310 | — | — | — |
| Monique Jacobson | 775,547 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Company's compensation strategy is grounded in pay for performance, designed to attract, retain, and motivate highly qualified executives by providing market-competitive total compensation that links corporate goals to shareholder interests. A significant portion of executive pay is 'at risk' and based on actual Company performance against short-term and long-term financial and operational objectives.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Pay Governance |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Henry Monroy | RSU | 311 | — | $18,312 |
| Henry Monroy | RSU | 361 | — | 21,256 |
| Elisabeth Eden | RSU | 650 | — | 38,272 |
| Henry Monroy | RSU | 1,505 | — | 88,614 |
| Joseph Tarry | RSU | 1,700 | — | 100,096 |
| Elisabeth Eden | RSU | 1,854 | — | 109,164 |
| Elisabeth Eden | RSU | 2,219 | — | 130,655 |
| Elisabeth Eden | RSU | 2,624 | — | 154,501 |
| Henry Monroy | RSU | 2,732 | — | 160,860 |
| Monique Jacobson | PSU | 3,381 | — | 199,073 |
| Brian Iverson | RSU | 3,525 | — | 207,552 |
| Elisabeth Eden | PSU | 3,604 | — | 212,204 |
| Joseph Tarry | RSU | 4,846 | — | 285,332 |
| Patricia Collawn | RSU | 6,019 | — | 354,399 |
| Henry Monroy | RSU | 6,348 | — | 373,770 |
| Monique Jacobson | RSU | 7,704 | — | 453,612 |
| Brian Iverson | PSU | 8,666 | — | 510,254 |
| Joseph Tarry | RSU | 9,467 | — | 557,417 |
| Brian Iverson | PSU | 16,453 | — | 968,753 |
| Patricia Collawn | RSU | 17,152 | — | 1,009,910 |
| Patricia Collawn | RSU | 21,963 | — | 1,293,181 |
| Joseph Tarry | PSU | 26,209 | — | 1,543,186 |
| Patricia Collawn | PSU | 60,031 | — | 3,534,625 |
| Joseph Tarry | PSU | 60,545 | — | 3,564,890 |
| Patricia Collawn | PSU | 73,588 | — | 4,332,861 |
Director compensation
No director compensation table is on file for fiscal year 2025.
Board fee structure and ownership guideline
| Annual cash retainer | $115,000 |
|---|---|
| Annual equity retainer | $145,000 |
| Per board meeting fee | $1,500 |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 15,000 |
| Stock ownership guideline | $5 |
Peer group, and who names Txnm Energy as a peer
Companies that benchmark against PNM
18 companies name PNM as a compensation peer
- PINNACLE WEST CAPITAL CORPPNWFY2025
Each company listed discloses PNM in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named PNM in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Txnm Energy Inc | 2025 | Joseph Tarry | $839,462 | $2,275,011 | $0 | $495,058 | $3,903,948 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
CEO pay ratio
| Ratio (CEO : median employee) | 35 : 1 |
|---|---|
| CEO total compensation | $5,177,532 |
| Median employee compensation | $148,703 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (9 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Patricia Collawn. DEF 14A, filed 2026-04-28. Section “Executive Compensation” · page 58. As printed: 5,219,997. View filing ↗
- Section 01, Joseph Tarry. DEF 14A, filed 2026-04-28. Section “Executive Compensation” · page 58. As printed: 3,903,948. View filing ↗
- Section 01, Brian Iverson. DEF 14A, filed 2026-04-28. Section “Executive Compensation” · page 58. As printed: 1,416,639. View filing ↗
- Section 01, Elisabeth Eden. DEF 14A, filed 2026-04-28. Section “Executive Compensation” · page 58. As printed: 1,015,765. View filing ↗
- Section 01, Henry Monroy. DEF 14A, filed 2026-04-28. Section “Executive Compensation” · page 58. As printed: 972,310. View filing ↗
- Section 01, Monique Jacobson. DEF 14A, filed 2026-04-28. Section “Executive Compensation” · page 58. As printed: 775,547. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-28. Section “CEO Pay Ratio”. As printed: 35 : 1. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Txnm Energy Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Txnm Energy Inc's own proxy. As printed: 3,903,948. View filing ↗