Business Context and Reporting Period
This Form 8-K is a current report filed by PNM Resources, Inc. (a New Mexico corporation) on January 22, 2020, regarding events that occurred on January 21, 2020. The filing addresses executive leadership changes within the company's finance and accounting departments.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial data disclosed relates to the compensation of a newly appointed officer:
- Henry E. Monroy (New VP and Controller): Base salary of $221,781; target bonus of 25% of base salary; 2019 long-term equity grants of $40,000 in restricted stock rights.
Material Changes Versus Prior Period
The material change reported is the restructuring of the company's senior financial leadership effective January 21, 2020:
- Charles N. Eldred: Appointed Executive Vice President, Corporate Development and Finance; ceased serving as Principal Financial Officer.
- Joseph D. Tarry: Appointed Senior Vice President and Chief Financial Officer; assumed role as Principal Financial Officer; ceased serving as Principal Accounting Officer.
- Henry E. Monroy: Appointed Vice President and Controller; assumed role as Principal Accounting Officer.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on future performance, or discussion of risks and contingencies. The document focuses exclusively on the appointment of officers and their professional backgrounds.
Key Facts for Investor Verification
- Joseph D. Tarry is the new Chief Financial Officer and Principal Financial Officer.
- Henry E. Monroy is the new Principal Accounting Officer.
- Charles N. Eldred has transitioned to a role focused on Corporate Development and Finance.
- The filing does not contain updated financial results or forward-looking statements.