<SEC-DOCUMENT>0001108426-15-000126.txt : 20151109
<SEC-HEADER>0001108426-15-000126.hdr.sgml : 20151109
<ACCEPTANCE-DATETIME>20151105180036
ACCESSION NUMBER:		0001108426-15-000126
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151104
FILED AS OF DATE:		20151105
DATE AS OF CHANGE:		20151105

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:			Eldred Charles N
		CENTRAL INDEX KEY:			0001350048

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32462
		FILM NUMBER:		151201931

	MAIL ADDRESS:	
		STREET 1:		414 SILVER AVE SW MS 1275
		CITY:			ALBUQUERQUE
		STATE:			NM
		ZIP:			87102-3289
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_144676442559211.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2015-11-04</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001350048</rptOwnerCik>
            <rptOwnerName>Eldred Charles N</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1></rptOwnerStreet1>
            <rptOwnerStreet2>414 SILVER AVE, SW</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>EXEC VP, CFO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2015-11-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5409</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>28.3512</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>87323</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Phantom Stock Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6696.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6696</value>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>PNMR Common Stock Fund - PNM Resources Executive Savings Plan</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Rights</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F6"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F7"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>9732.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9732</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F8"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F9"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F10"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>14000.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares sold in the open market to satisfy the reporting person's tax obligations arising in connection with the vesting of the equity awards, in addition to the minimum statutory tax withholding for the vesting of equity awards.</footnote>
        <footnote id="F2">Reflects the sale of stock</footnote>
        <footnote id="F3">The security converts to common stock on a one-for-one basis.</footnote>
        <footnote id="F4">The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan, and will settle upon the Reporting Person's retirement or other termination of service.</footnote>
        <footnote id="F5">Total represents phantom stock shares of PNM Resources, Inc. Common Stock acquired under the PNM Resources, Inc. Executive Savings Plan II as of September 30, 2015.</footnote>
        <footnote id="F6">Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.</footnote>
        <footnote id="F7">The restricted stock units vest in three equal annual installments. 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="F8">Based on the closing price on the date of the grant.</footnote>
        <footnote id="F9">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="F10">The options expire 10 years from grant date.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Leonard D. Sanchez, POA for Charles N. Eldred</signatureName>
        <signatureDate>2015-11-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>poaeldredfinal1.htm
<DESCRIPTION>POAELD
<TEXT>
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        <title>Exhibit</title>
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<a name="sEDDD0B25BF1DB762C414D9CA82DAD457"></a><div></div><br><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Power of Attorney</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">I, Charles N. Eldred, reside at 49 Broken Arrow Place, Sandia Park, New Mexico  87047.  I appoint Leonard D. Sanchez, Associate General Counsel and Assistant Secretary, Corporate Headquarters, MS-1275, Albuquerque, New Mexico 87158, Alexis Jenkins, Jr. Corporate Governance Analyst, Corporate Headquarters, MS-1275, Albuquerque, New Mexico 87158 or Lisa Tillery, Sr. Corporate Governance Analyst, Corporate Headquarters, MS-1275, Albuquerque, New Mexico 87158 to serve as my attorney-in-fact to:</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">execute for me in my capacity as an Officer of PNM Resources, Inc. (&#8220;Company&#8221;), Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 (&#8220;1934 Act&#8221;) and the associated rules;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">perform for me all acts which may be necessary or desirable to complete and execute Forms 3, 4, and 5, complete and executive any amendments, and timely file the forms with the United States Securities and Exchange Commission and the New York Stock Exchange, or similar authority; or</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:12pt;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">take any other action related to the powers identified in items (1) and (2), which, in the opinion of the attorney-in-fact, may be legally required or beneficial to me.</font></div></td></tr></table><div style="line-height:180%;text-align:justify;padding-left:24px;text-indent:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">I acknowledge that the attorneys-in-fact are serving at my request and neither they nor the company are assuming any of my responsibilities to comply with Section 16 of the 1934 Act.  This Power of Attorney shall remain in full force and effect until I am no longer required to file Forms 3, 4, and 5 with respect to my holdings of and transactions in securities issued by the Company, unless earlier revoked by me in a signed writing delivered to the attorneys-in-fact.</font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Charles N. Eldred</font><font style="font-family:inherit;font-size:12pt;">____________________</font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Charles N. Eldred</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ACKNOWLEDGMENT</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">State of New Mexico&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;)</font></div><div style="line-height:120%;text-indent:192px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">) ss.</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">County of Bernalillo&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;)</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The foregoing instrument was acknowledged before me September 2, 2015, by Charles N. Eldred.</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-indent:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Susan G. Gordon</font><font style="font-family:inherit;font-size:12pt;">______________________&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notary Public</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">My Commission Expires: September 12, 2016</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><br><div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Document #3447644</font></div></div>    </body>
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