<SEC-DOCUMENT>0001108426-15-000020.txt : 20150306
<SEC-HEADER>0001108426-15-000020.hdr.sgml : 20150306
<ACCEPTANCE-DATETIME>20150306174207
ACCESSION NUMBER:		0001108426-15-000020
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150304
FILED AS OF DATE:		20150306
DATE AS OF CHANGE:		20150306

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PNM RESOURCES INC
		CENTRAL INDEX KEY:			0001108426
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				850019030
		STATE OF INCORPORATION:			NM
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		414 SILVER AVE. SW
		CITY:			ALBUQUERQUE
		STATE:			NM
		ZIP:			87102-3289
		BUSINESS PHONE:		5052412700

	MAIL ADDRESS:	
		STREET 1:		414 SILVER AVE. SW
		STREET 2:		ATTN: MS 0905 - CATHY MARTINEZ
		CITY:			ALBUQUERQUE
		STATE:			NM
		ZIP:			87102-3289

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MANZANO CORP
		DATE OF NAME CHANGE:	20000303

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SATEGNA THOMAS G
		CENTRAL INDEX KEY:			0001269073

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32462
		FILM NUMBER:		15682794

	MAIL ADDRESS:	
		STREET 1:		ALVARADO SQUARE MS 0406
		CITY:			ALBUQUERQUE
		STATE:			NM
		ZIP:			87158
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_142568171729427.xml
<DESCRIPTION>FORM 4
<TEXT>
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    <periodOfReport>2015-03-04</periodOfReport>

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    <issuer>
        <issuerCik>0001108426</issuerCik>
        <issuerName>PNM RESOURCES INC</issuerName>
        <issuerTradingSymbol>PNM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001269073</rptOwnerCik>
            <rptOwnerName>SATEGNA THOMAS G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>CORPORATE HEADQUARTERS</rptOwnerStreet1>
            <rptOwnerStreet2>MS 1275</rptOwnerStreet2>
            <rptOwnerCity>ALBUQUERQUE</rptOwnerCity>
            <rptOwnerState>NM</rptOwnerState>
            <rptOwnerZipCode>87158-1275</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VP AND CORP CNTRL</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

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            <transactionCoding>
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                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
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                    <value>6813</value>
                </transactionShares>
                <transactionPricePerShare>
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                </transactionShares>
                <transactionPricePerShare>
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                </sharesOwnedFollowingTransaction>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
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            <transactionAmounts>
                <transactionShares>
                    <value>441</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F3"/>
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                <transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>5708</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                    <value>143</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>27.34</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5565</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Phantom Stock Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F6"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>13197.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13197</value>
                    <footnoteId id="F7"/>
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            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>PNM Common Stock Fund - PNM Resources Executive Savings Plan</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Rights</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F8"/>
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            <transactionDate>
                <value>2015-03-04</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
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            <transactionAmounts>
                <transactionShares>
                    <value>1146</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F9"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F9"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1146.0</value>
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            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2384</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F10"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F11"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F12"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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                <underlyingSecurityShares>
                    <value>12000.0</value>
                </underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>12000</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The performance shares were earned as of December 31, 2014 for the 2012-2014 performance period, as determined effective February 26, 2015.</footnote>
        <footnote id="F2">Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (3) above.  The company utilizes a modified &quot;share withholding&quot; approach in connection with settling awards of performance shares, in which it (i) withholds (in cash) the amount required to satisfy the tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of the performance share award at the prevailing market price.  Only these &quot;net shares&quot; are delivered to the recipient of the performance share award.</footnote>
        <footnote id="F3">Represents the portions of previous awards of restricted stock rights that vested effective March 5 and 6, 2015.</footnote>
        <footnote id="F4">Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the vesting of the restricted stock rights referenced in (1) above.  The company utilizes a modified &quot;share withholding&quot; approach in connection with settling awards of restricted stock rights upon vesting, in which it (i) withholds (in cash) the amount required to satisfy the tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of the vested restricted stock rights award at the prevailing market price.  Only these &quot;net shares&quot; are delivered to the recipient of the award.</footnote>
        <footnote id="F5">The security converts to common stock on a one-for-one basis.</footnote>
        <footnote id="F6">The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.</footnote>
        <footnote id="F7">Total represents phantom stock shares of PNM Resources, Inc. Common Stock acquired under the PNM Resources, Inc. Executive Savings Plan II as of February 28, 2015.</footnote>
        <footnote id="F8">Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.</footnote>
        <footnote id="F9">Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.  The remaining restricted stock units vest in two equal annual installments, beginning on March 4, 2016.  Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).</footnote>
        <footnote id="F10">Based on the closing price on the date of the grant.</footnote>
        <footnote id="F11">Stock options were awarded on multiple dates. The exercise price associated with each stock option award was based on the closing price of PNM Resources, Inc. common stock on the date of the grant.</footnote>
        <footnote id="F12">The options expire 10 years from the grant date.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Jim Acosta, POA for Thomas G. Sategna</signatureName>
        <signatureDate>2015-03-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</DOCUMENT>
</SEC-DOCUMENT>
