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TXNM ENERGY INC. 2024-2025 Proxy Voting Records

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.

  • 12Ballot items
  • 367Asset managers
  • 5,176Fund votes
  • May 13, 2025Meeting date

Results at a glance

Meeting of May 13, 2025: 12 items on TXNM ENERGY INC.’s Form 8-K, filed May 14, 2025: 10 elected · 2 approved.

Material dissent

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

Proxy season: 2023-2024 2024-2025 2025-2026

Explore TXNM ENERGY INC. in the interactive database Compare manager voting policies

Official 2024-2025 meeting results reported by TXNM ENERGY INC.

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.

TXNM ENERGY INC. — official shareholder meeting results, meeting held May 13, 2025
Ballot itemForAgainst AbstainWithheldBroker non-votesSupport (of votes cast)Reported outcomeVoting standard
Elect Director: Vicky A. Bailey 83,660,233187,66972,771 --2,089,705 99.7%Elected—
Elect Director: Norman P. Becker 83,786,83962,56271,272 --2,089,705 99.9%Elected—
Elect Director: Patricia K. Collawn 82,924,954908,57587,144 --2,089,705 99%Elected—
Elect Director: E. Renae Conley 82,517,1371,334,16669,370 --2,089,705 98%Elected—
Elect Director: Sidney M. Gutierrez 83,589,099259,11372,461 --2,089,705 99.6%Elected—
Elect Director: James A. Hughes 83,777,91170,86071,902 --2,089,705 99.9%Elected—
Elect Director: Steven C. Maestas 83,751,47052,208116,995 --2,089,705 99.9%Elected—
Elect Director: Lillian J. Montoya 83,747,57866,635106,460 --2,089,705 99.9%Elected—
Elect Director: Maureen T. Mullarkey 82,516,7821,336,91666,975 --2,089,705 98%Elected—
Elect Director: Joseph D. Tarry 82,689,5261,151,11880,029 --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: 85,272,507623,140114,731 ---- 99.2%Approved—
TXNM's shareholders approved, on an advisory basis, the compensation of TXNM's NEOs, by the vote indicated below: 82,259,2741,529,784131,615 --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.

How asset managers voted at the TXNM ENERGY INC. 2024-2025 meeting

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.

1. Elect Director: E. Renae Conley

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 2 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%
FOR: 82,517,137AGAINST: 1,334,166
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 53,135,023AGAINST: 144,851ABSTAIN: 23,660
Largest asset managers voting on “Election of Directors: E. Renae Conley” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1302 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,87929 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

2. Elect Director: James A. Hughes

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 2 wordings of this item as funds reported it.

99.9% Majority: yes · of votes cast

FOR 99.9%
FOR: 83,777,911AGAINST: 70,860
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 53,279,874AGAINST: 0ABSTAIN: 23,660
Largest asset managers voting on “Election of Directors: James A. Hughes” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1320 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,9080 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

3. Elect Director: Joseph D. Tarry

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 2 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%
FOR: 82,689,526AGAINST: 1,151,118
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 52,789,942AGAINST: 489,932ABSTAIN: 23,660
Largest asset managers voting on “Election of Directors: Joseph D. Tarry” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1302 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,88325 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National114,179178,304 00Mixed
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

4. Elect Director: Lillian J. Montoya

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 2 wordings of this item as funds reported it.

99.9% Majority: yes · of votes cast

FOR 99.9%
FOR: 83,747,578AGAINST: 66,635
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 53,279,874AGAINST: 0ABSTAIN: 23,660
Largest asset managers voting on “Election of Directors: Lillian J. Montoya” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1320 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,9080 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

5. Elect Director: Maureen T. Mullarkey

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 2 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%
FOR: 82,516,782AGAINST: 1,336,916
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 53,145,828AGAINST: 134,046ABSTAIN: 23,660
Largest asset managers voting on “Election of Directors: Maureen T. Mullarkey” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1302 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,87929 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

6. Elect Director: Norman P. Becker

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 2 wordings of this item as funds reported it.

99.9% Majority: yes · of votes cast

FOR 99.9%
FOR: 83,786,839AGAINST: 62,562
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 53,279,874AGAINST: 0ABSTAIN: 23,660
Largest asset managers voting on “Election of Directors: Norman P. Becker” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1320 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,9080 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

7. Elect Director: Patricia K. Collawn

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 2 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%
FOR: 82,924,954AGAINST: 908,575
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 53,268,648AGAINST: 420ABSTAIN: 34,465
Largest asset managers voting on “Election of Directors: Patricia K. Collawn” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1311 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,88325 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

8. Elect Director: Sidney M. Gutierrez

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 2 wordings of this item as funds reported it.

99.6% Majority: yes · of votes cast

FOR 99.6%
FOR: 83,589,099AGAINST: 259,113
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 53,279,480AGAINST: 394ABSTAIN: 23,660
Largest asset managers voting on “Election of Directors: Sidney M. Gutierrez” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1320 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,9080 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

9. Elect Director: Steven C. Maestas

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 2 wordings of this item as funds reported it.

99.9% Majority: yes · of votes cast

FOR 99.9%
FOR: 83,751,470AGAINST: 52,208
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 53,279,874AGAINST: 0ABSTAIN: 23,660
Largest asset managers voting on “Election of Directors: Steven C. Maestas” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1320 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,9080 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

10. Elect Director: Vicky A. Bailey

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 2 wordings of this item as funds reported it.

99.7% Majority: yes · of votes cast

FOR 99.7%
FOR: 83,660,233AGAINST: 187,669
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 53,279,874AGAINST: 0ABSTAIN: 23,660
Largest asset managers voting on “Election of Directors: Vicky A. Bailey” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1320 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,9080 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

11. TXNM's shareholders approved, on an advisory basis, the compensation of TXNM's NEOs, by the vote indicated below:

Official resultFund totals may overlapSECTION 14A SAY-ON-PAY VOTESReported outcome: Approved

Combines 4 wordings of this item as funds reported it.

98% Approved · of votes cast

FOR 98%
FOR: 82,259,274AGAINST: 1,529,784
Details: description as filed, official tally, votes by 355 asset managers

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).

Fund voting reports: 110 asset managers voting on “Approve, on an advisory basis, the compensation of our named executive officers.” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1302 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,9080 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

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.

Institutional-manager reports: 278 asset managers voting on “Approve, on an advisory basis, the compensation of our named executive officers.” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Fidelity6,811,7870 00For
T. Rowe Price5,849,3240 00For
BlackRock3,396,629833 00For
FULLER & THALER ASSET MANAGEMENT, INC.3,338,7730 00For
AllianceBernstein3,022,0450 00For
State Street2,823,3140 00For
GEODE CAPITAL MANAGEMENT, LLC2,177,3560 00For
FRANKLIN ADVISERS INC1,700,0000 00For
Charles Schwab1,261,5830 00For
River Road Asset Management, LLC1,259,3960 00For
Victory Capital1,043,8090 00For
Point72972,4130 00For
Empyrean Capital Partners, LP857,6890 00For
Northern Trust813,9880 00For
WESTWOOD HOLDINGS GROUP INC789,4370 00For
Gabelli764,9040 00For
Merewether Investment Management, LP638,3610 00For
Wellington586,6380 00For
MELLON INVESTMENTS Corp583,7650 00For
PARAMETRIC PORTFOLIO ASSOCIATES LLC449,7410 00For
RAYMOND JAMES & ASSOCIATES438,7780 00For
Bridgewater436,6200 00For
Aberdeen0393,600 00Against
SIR Capital Management, L.P.386,2710 00For
BROOKFIELD Corp /ON/372,3570 00For

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.

12. The appointment of KPMG LLP to serve as TXNM's independent public accountants for the year ending December 31, 2025…

Official resultAUDIT-RELATEDReported outcome: Approved

Combines 2 wordings of this item as funds reported it.

99.2% Approved · of votes cast

FOR 99.2%
FOR: 85,272,507AGAINST: 623,140
Details: description as filed, official tally, votes by 111 asset managers

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.

FOR
FOR: 53,279,844AGAINST: 30ABSTAIN: 23,660
Largest asset managers voting on “RATIFY APPOINTMENT OF KPMG LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2025.” at TXNM ENERGY INC., 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard10,317,1311 00For
Fidelity8,644,0370 00For
BlackRock7,828,3020 00For
T. Rowe Price3,712,1730 00For
UNDISCOVERED MANAGERS FUNDS2,951,4330 00For
REAVES UTILITY INCOME FUND2,441,7220 00For
Franklin Custodian Funds1,700,0000 00For
AllianceBernstein1,333,9120 00For
Charles Schwab1,252,4770 00For
Dimensional1,152,6060 00For
First Trust1,006,8540 00For
Equitable1,001,7230 00For
Victory Capital773,6070 00For
Gabelli606,6730 00For
New York Life543,3100 00For
John Hancock477,8470 00For
State Street469,87929 00For
Ultimus Managers Trust412,9330 00For
ETFis Series Trust I382,2340 00For
Goldman Sachs363,6390 00For
AMG Funds IV358,9010 00For
AIG/SunAmerica320,6650 00For
Jackson National292,4830 00For
Thornburg290,9200 00For
DWS263,6430 00For

Showing the 25 largest of 111 asset managers. See all 111 in the interactive database.

Largest TXNM ENERGY INC. shareholders voting in 2024-2025

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.

Fund voting reports: top TXNM ENERGY INC. shareholders by shares voted on “Election of Directors: E. Renae Conley”, 2024-2025
#Asset manager % of shares outstanding
1Vanguard 11.13%
2Fidelity 9.33%
3BlackRock 8.45%
4T. Rowe Price 4.01%
5UNDISCOVERED MANAGERS FUNDS 3.19%
6REAVES UTILITY INCOME FUND 2.64%
7Franklin Custodian Funds 1.83%
8AllianceBernstein 1.44%
9Charles Schwab 1.35%
10Dimensional 1.24%
Institutional-manager reports: top TXNM ENERGY INC. shareholders by shares voted on “Approve, on an advisory basis, the compensation of our named executive officers.”, 2024-2025
#Asset manager % of shares outstanding
1Fidelity 7.35%
2T. Rowe Price 6.31%
3BlackRock 3.67%
4FULLER & THALER ASSET MANAGEMENT, INC. 3.60%
5AllianceBernstein 3.26%
6State Street 3.05%
7GEODE CAPITAL MANAGEMENT, LLC 2.35%
8FRANKLIN ADVISERS INC 1.83%
9Charles Schwab 1.36%
10River Road Asset Management, LLC 1.36%

Reported TXNM ENERGY INC. holdings and ownership

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.

TXNM ENERGY INC. holdings and ownership disclosed for the 2024-2025 proxy season
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.

About this page

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.