Business Context and Reporting Period
This Form 8-K is a current report filed by PNM Resources, Inc. (a New Mexico corporation) on March 24, 2016, regarding an event that occurred on March 21, 2016. The filing addresses corporate governance changes specifically related to the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to a disclosure regarding the departure of a director and contains no financial performance data.
Material Changes
The material change disclosed is the announcement that Robert R. Nordhaus, a director since September 18, 2007, will not stand for reelection at the 2016 Annual Meeting of Shareholders scheduled for May 17, 2016. Mr. Nordhaus will serve out his current term until the meeting. The company confirmed there are no disagreements between the registrant and Mr. Nordhaus regarding this decision.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies beyond the standard disclosure of the director's departure.
Key Facts for Investor Verification
- Robert R. Nordhaus will not seek reelection as a director at the May 17, 2016 Annual Meeting.
- Mr. Nordhaus will remain on the Board until the conclusion of the 2016 Annual Meeting.
- The company explicitly states there are no disagreements with Mr. Nordhaus concerning his departure.
- This filing does not contain financial results or operational updates.