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Compiled from SEC Form N-PX filings and TXNM ENERGY INC.’s Form 8-K, filed May 14, 2025 (Item 5.07 on EDGAR). Page generated October 18, 2026.
Meeting of May 13, 2025: 12 items on TXNM ENERGY INC.’s Form 8-K, filed May 14, 2025: 10 elected · 2 approved.
None.
Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided
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These tallies are TXNM ENERGY INC.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed May 14, 2025 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.
| Ballot item | For | Against | Abstain | Withheld | Broker non-votes | Support (of votes cast) | Reported outcome | Voting standard |
|---|---|---|---|---|---|---|---|---|
| Elect Director: Vicky A. Bailey | 83,660,233 | 187,669 | 72,771 | -- | 2,089,705 | 99.7% | Elected | — |
| Elect Director: Norman P. Becker | 83,786,839 | 62,562 | 71,272 | -- | 2,089,705 | 99.9% | Elected | — |
| Elect Director: Patricia K. Collawn | 82,924,954 | 908,575 | 87,144 | -- | 2,089,705 | 99% | Elected | — |
| Elect Director: E. Renae Conley | 82,517,137 | 1,334,166 | 69,370 | -- | 2,089,705 | 98% | Elected | — |
| Elect Director: Sidney M. Gutierrez | 83,589,099 | 259,113 | 72,461 | -- | 2,089,705 | 99.6% | Elected | — |
| Elect Director: James A. Hughes | 83,777,911 | 70,860 | 71,902 | -- | 2,089,705 | 99.9% | Elected | — |
| Elect Director: Steven C. Maestas | 83,751,470 | 52,208 | 116,995 | -- | 2,089,705 | 99.9% | Elected | — |
| Elect Director: Lillian J. Montoya | 83,747,578 | 66,635 | 106,460 | -- | 2,089,705 | 99.9% | Elected | — |
| Elect Director: Maureen T. Mullarkey | 82,516,782 | 1,336,916 | 66,975 | -- | 2,089,705 | 98% | Elected | — |
| Elect Director: Joseph D. Tarry | 82,689,526 | 1,151,118 | 80,029 | -- | 2,089,705 | 99% | Elected | — |
| The appointment of KPMG LLP to serve as TXNM's independent public accountants for the year ending December 31, 2025, was ratified by TXNM's shareholders by the vote indicated below: | 85,272,507 | 623,140 | 114,731 | -- | -- | 99.2% | Approved | — |
| TXNM's shareholders approved, on an advisory basis, the compensation of TXNM's NEOs, by the vote indicated below: | 82,259,274 | 1,529,784 | 131,615 | -- | 2,089,705 | 98% | Approved | — |
Source: TXNM ENERGY INC., Form 8-K, filed with the SEC on May 14, 2025 — read the filing on EDGAR.
Each item below shows how the 367 asset managers that disclosed a TXNM ENERGY INC. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report.
Combines 2 wordings of this item as funds reported it.
98% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: E. Renae Conley
TXNM ENERGY INC.’s own tally for this item (“Elect Director: E. Renae Conley”): 82,517,137 for, 1,334,166 against, per its Form 8-K filed May 14, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: Elected, in the filing’s own words: “The following nominees were elected to TXNM's Board of Directors to serve as directors for a one-year term that expires at TXNM's Annual Meeting of Shareholders to be held in 2026.”
Support: 98% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 53,135,023 for, 144,851 against, 23,660 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,130 | 2 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,879 | 29 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Combines 2 wordings of this item as funds reported it.
99.9% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: James A. Hughes
TXNM ENERGY INC.’s own tally for this item (“Elect Director: James A. Hughes”): 83,777,911 for, 70,860 against, per its Form 8-K filed May 14, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: Elected, in the filing’s own words: “The following nominees were elected to TXNM's Board of Directors to serve as directors for a one-year term that expires at TXNM's Annual Meeting of Shareholders to be held in 2026.”
Support: 99.9% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 53,279,874 for, 0 against, 23,660 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,132 | 0 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,908 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Combines 2 wordings of this item as funds reported it.
99% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Joseph D. Tarry
TXNM ENERGY INC.’s own tally for this item (“Elect Director: Joseph D. Tarry”): 82,689,526 for, 1,151,118 against, per its Form 8-K filed May 14, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: Elected, in the filing’s own words: “The following nominees were elected to TXNM's Board of Directors to serve as directors for a one-year term that expires at TXNM's Annual Meeting of Shareholders to be held in 2026.”
Support: 99% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 52,789,942 for, 489,932 against, 23,660 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,130 | 2 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,883 | 25 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 114,179 | 178,304 | 0 | 0 | Mixed |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Combines 2 wordings of this item as funds reported it.
99.9% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Lillian J. Montoya
TXNM ENERGY INC.’s own tally for this item (“Elect Director: Lillian J. Montoya”): 83,747,578 for, 66,635 against, per its Form 8-K filed May 14, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: Elected, in the filing’s own words: “The following nominees were elected to TXNM's Board of Directors to serve as directors for a one-year term that expires at TXNM's Annual Meeting of Shareholders to be held in 2026.”
Support: 99.9% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 53,279,874 for, 0 against, 23,660 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,132 | 0 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,908 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Combines 2 wordings of this item as funds reported it.
98% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Maureen T. Mullarkey
TXNM ENERGY INC.’s own tally for this item (“Elect Director: Maureen T. Mullarkey”): 82,516,782 for, 1,336,916 against, per its Form 8-K filed May 14, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: Elected, in the filing’s own words: “The following nominees were elected to TXNM's Board of Directors to serve as directors for a one-year term that expires at TXNM's Annual Meeting of Shareholders to be held in 2026.”
Support: 98% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 53,145,828 for, 134,046 against, 23,660 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,130 | 2 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,879 | 29 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Combines 2 wordings of this item as funds reported it.
99.9% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Norman P. Becker
TXNM ENERGY INC.’s own tally for this item (“Elect Director: Norman P. Becker”): 83,786,839 for, 62,562 against, per its Form 8-K filed May 14, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: Elected, in the filing’s own words: “The following nominees were elected to TXNM's Board of Directors to serve as directors for a one-year term that expires at TXNM's Annual Meeting of Shareholders to be held in 2026.”
Support: 99.9% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 53,279,874 for, 0 against, 23,660 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,132 | 0 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,908 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Combines 2 wordings of this item as funds reported it.
99% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Patricia K. Collawn
TXNM ENERGY INC.’s own tally for this item (“Elect Director: Patricia K. Collawn”): 82,924,954 for, 908,575 against, per its Form 8-K filed May 14, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: Elected, in the filing’s own words: “The following nominees were elected to TXNM's Board of Directors to serve as directors for a one-year term that expires at TXNM's Annual Meeting of Shareholders to be held in 2026.”
Support: 99% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 53,268,648 for, 420 against, 34,465 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,131 | 1 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,883 | 25 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Combines 2 wordings of this item as funds reported it.
99.6% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Sidney M. Gutierrez
TXNM ENERGY INC.’s own tally for this item (“Elect Director: Sidney M. Gutierrez”): 83,589,099 for, 259,113 against, per its Form 8-K filed May 14, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: Elected, in the filing’s own words: “The following nominees were elected to TXNM's Board of Directors to serve as directors for a one-year term that expires at TXNM's Annual Meeting of Shareholders to be held in 2026.”
Support: 99.6% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 53,279,480 for, 394 against, 23,660 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,132 | 0 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,908 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Combines 2 wordings of this item as funds reported it.
99.9% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Steven C. Maestas
TXNM ENERGY INC.’s own tally for this item (“Elect Director: Steven C. Maestas”): 83,751,470 for, 52,208 against, per its Form 8-K filed May 14, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: Elected, in the filing’s own words: “The following nominees were elected to TXNM's Board of Directors to serve as directors for a one-year term that expires at TXNM's Annual Meeting of Shareholders to be held in 2026.”
Support: 99.9% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 53,279,874 for, 0 against, 23,660 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,132 | 0 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,908 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Combines 2 wordings of this item as funds reported it.
99.7% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Vicky A. Bailey
TXNM ENERGY INC.’s own tally for this item (“Elect Director: Vicky A. Bailey”): 83,660,233 for, 187,669 against, per its Form 8-K filed May 14, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: Elected, in the filing’s own words: “The following nominees were elected to TXNM's Board of Directors to serve as directors for a one-year term that expires at TXNM's Annual Meeting of Shareholders to be held in 2026.”
Support: 99.7% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 53,279,874 for, 0 against, 23,660 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,132 | 0 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,908 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Combines 4 wordings of this item as funds reported it.
98% Approved · of votes cast
Description as filed by funds: Approve, on an advisory basis, the compensation of our named executive officers.
TXNM ENERGY INC.’s own tally for this item (“TXNM's shareholders approved, on an advisory basis, the compensation of TXNM's NEOs, by the vote indicated below:”): 82,259,274 for, 1,529,784 against — passed, per its Form 8-K filed May 14, 2025 (Item 5.07).
Reported outcome: Approved, in the filing’s own words: “TXNM's shareholders approved, on an advisory basis, the compensation of TXNM's NEOs, by the vote indicated below:”
Support: 98% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
Also reported under other wordings, matched to the same row of TXNM ENERGY INC.’s official tally and shown with their own fund figures; their managers are not in the figures or the table on this card: “Advisory Vote to Ratify Named Executive Officers' Compensation” (11 managers, Fund and manager reports combined; may count the same shares twice; no share total shown); “Compensation” (2 managers, Fund and manager reports combined; may count the same shares twice; no share total shown).
Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,130 | 2 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,908 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Fund voting reports, all 110 managers: 52,753,190 for, 353,340 against, 23,660 abstained. Showing the 25 largest; see all in the interactive database.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Fidelity | 6,811,787 | 0 | 0 | 0 | For |
| T. Rowe Price | 5,849,324 | 0 | 0 | 0 | For |
| BlackRock | 3,396,629 | 833 | 0 | 0 | For |
| FULLER & THALER ASSET MANAGEMENT, INC. | 3,338,773 | 0 | 0 | 0 | For |
| AllianceBernstein | 3,022,045 | 0 | 0 | 0 | For |
| State Street | 2,823,314 | 0 | 0 | 0 | For |
| GEODE CAPITAL MANAGEMENT, LLC | 2,177,356 | 0 | 0 | 0 | For |
| FRANKLIN ADVISERS INC | 1,700,000 | 0 | 0 | 0 | For |
| Charles Schwab | 1,261,583 | 0 | 0 | 0 | For |
| River Road Asset Management, LLC | 1,259,396 | 0 | 0 | 0 | For |
| Victory Capital | 1,043,809 | 0 | 0 | 0 | For |
| Point72 | 972,413 | 0 | 0 | 0 | For |
| Empyrean Capital Partners, LP | 857,689 | 0 | 0 | 0 | For |
| Northern Trust | 813,988 | 0 | 0 | 0 | For |
| WESTWOOD HOLDINGS GROUP INC | 789,437 | 0 | 0 | 0 | For |
| Gabelli | 764,904 | 0 | 0 | 0 | For |
| Merewether Investment Management, LP | 638,361 | 0 | 0 | 0 | For |
| Wellington | 586,638 | 0 | 0 | 0 | For |
| MELLON INVESTMENTS Corp | 583,765 | 0 | 0 | 0 | For |
| PARAMETRIC PORTFOLIO ASSOCIATES LLC | 449,741 | 0 | 0 | 0 | For |
| RAYMOND JAMES & ASSOCIATES | 438,778 | 0 | 0 | 0 | For |
| Bridgewater | 436,620 | 0 | 0 | 0 | For |
| Aberdeen | 0 | 393,600 | 0 | 0 | Against |
| SIR Capital Management, L.P. | 386,271 | 0 | 0 | 0 | For |
| BROOKFIELD Corp /ON/ | 372,357 | 0 | 0 | 0 | For |
Institutional-manager reports, all 278 managers: 48,079,230 for, 1,147,607 against, 13,534 abstained, 1,464 not voted. Showing the 25 largest; see all in the interactive database.
Combines 2 wordings of this item as funds reported it.
99.2% Approved · of votes cast
Description as filed by funds: RATIFY APPOINTMENT OF KPMG LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2025.
TXNM ENERGY INC.’s own tally for this item (“The appointment of KPMG LLP to serve as TXNM's independent public accountants for the year ending December 31, 2025, was ratified by TXNM's shareholders by the vote indicated below:”): 85,272,507 for, 623,140 against — passed, per its Form 8-K filed May 14, 2025 (Item 5.07).
Reported outcome: Approved, in the filing’s own words: “The appointment of KPMG LLP to serve as TXNM's independent public accountants for the year ending December 31, 2025, was ratified by TXNM's shareholders by the vote indicated below:”
Support: 99.2% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 111 asset managers below reported 53,279,844 for, 30 against, 23,660 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,317,131 | 1 | 0 | 0 | For |
| Fidelity | 8,644,037 | 0 | 0 | 0 | For |
| BlackRock | 7,828,302 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,712,173 | 0 | 0 | 0 | For |
| UNDISCOVERED MANAGERS FUNDS | 2,951,433 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 2,441,722 | 0 | 0 | 0 | For |
| Franklin Custodian Funds | 1,700,000 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,333,912 | 0 | 0 | 0 | For |
| Charles Schwab | 1,252,477 | 0 | 0 | 0 | For |
| Dimensional | 1,152,606 | 0 | 0 | 0 | For |
| First Trust | 1,006,854 | 0 | 0 | 0 | For |
| Equitable | 1,001,723 | 0 | 0 | 0 | For |
| Victory Capital | 773,607 | 0 | 0 | 0 | For |
| Gabelli | 606,673 | 0 | 0 | 0 | For |
| New York Life | 543,310 | 0 | 0 | 0 | For |
| John Hancock | 477,847 | 0 | 0 | 0 | For |
| State Street | 469,879 | 29 | 0 | 0 | For |
| Ultimus Managers Trust | 412,933 | 0 | 0 | 0 | For |
| ETFis Series Trust I | 382,234 | 0 | 0 | 0 | For |
| Goldman Sachs | 363,639 | 0 | 0 | 0 | For |
| AMG Funds IV | 358,901 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 320,665 | 0 | 0 | 0 | For |
| Jackson National | 292,483 | 0 | 0 | 0 | For |
| Thornburg | 290,920 | 0 | 0 | 0 | For |
| DWS | 263,643 | 0 | 0 | 0 | For |
Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.
Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported, shown as a share of the 92,659,335 shares outstanding at the time of that meeting.
| # | Asset manager | % of shares outstanding |
|---|---|---|
| 1 | Vanguard | 11.13% |
| 2 | Fidelity | 9.33% |
| 3 | BlackRock | 8.45% |
| 4 | T. Rowe Price | 4.01% |
| 5 | UNDISCOVERED MANAGERS FUNDS | 3.19% |
| 6 | REAVES UTILITY INCOME FUND | 2.64% |
| 7 | Franklin Custodian Funds | 1.83% |
| 8 | AllianceBernstein | 1.44% |
| 9 | Charles Schwab | 1.35% |
| 10 | Dimensional | 1.24% |
| # | Asset manager | % of shares outstanding |
|---|---|---|
| 1 | Fidelity | 7.35% |
| 2 | T. Rowe Price | 6.31% |
| 3 | BlackRock | 3.67% |
| 4 | FULLER & THALER ASSET MANAGEMENT, INC. | 3.60% |
| 5 | AllianceBernstein | 3.26% |
| 6 | State Street | 3.05% |
| 7 | GEODE CAPITAL MANAGEMENT, LLC | 2.35% |
| 8 | FRANKLIN ADVISERS INC | 1.83% |
| 9 | Charles Schwab | 1.36% |
| 10 | River Road Asset Management, LLC | 1.36% |
As disclosed to the SEC in Form 13F (quarter-end holdings of 30 large managers), Schedules 13D and 13G (beneficial ownership above 5%) and the company’s own proxy statement (DEF 14A). Each row names its form.
| Holder | % outstanding | Disclosure |
|---|---|---|
| BlackRock | 13.74% | 13F |
| Vanguard Group | 11.32% | 13F |
| Troy TopCo LP | 8.63% | 13D |
| Balyasny Asset Management L.P. | 7.70% | 13G |
| FMR (Fidelity) | 7.25% | 13F |
| Vanguard Portfolio Management | 7.11% | 13G |
| T. Rowe Price Investment Management, Inc. | 4.78% | 13G |
| Fuller & Thaler Asset Management, Inc. | 4.15% | 13G |
| State Street | 3.82% | 13F |
| Point72 | 2.14% | 13F |
Percentages above are of 92,659,335 shares outstanding, as reported by TXNM ENERGY INC. on its Form 10-Q dated April 25, 2025 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, not today’s. Each holding is as of its own filing, which may be dated before or after the meeting.
Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from TXNM ENERGY INC.’s 10-Q dated April 25, 2025. This page is a static snapshot rebuilt weekly on October 18, 2026; a live search always shows the current data.
At TXNM ENERGY INC.'s shareholder meeting held May 13, 2025, in the 2024-2025 proxy season, 367 asset managers reported how they voted on 12 ballot items in their SEC Form N-PX filings, covering 5,176 separate fund positions. On the most widely held item on that ballot — Approve, on an advisory basis, the compensation of our named executive officers. — TXNM ENERGY INC.'s filing reports the proposal as approved, with 98% support of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). Source: TXNM ENERGY INC.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on May 14, 2025.
TXNM ENERGY INC. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.
Download data (CSV): ballot items · votes by manager · column guide.