Insider Trades - TALBOT RONALD E

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TALBOT RONALD E: Declared Holdings
Company/Relationship	Reported	Shares	Ownership
PNM Resources, Inc. (Holding Co Officer NYSE:PNM (historical quotes, profile, SEC, other insiders)	6-Mar-13	4,682	Direct

Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction
6-Mar-13 1,602 PNM Option Exercise
6-Mar-13 2,230 PNM Disposition (Non Open Market) at $23.09 per share.
(Value of $51,490)
6-Mar-13 5,310 PNM Acquisition (Non Open Market)
5-Mar-12 4,806 PNM Acquisition (Non Open Market) at $0 per share.
23-Jan-12 0 PNM Statement of Ownership

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Insider & restricted shareholder transactions reported over the last two years
Date	Shares	Stock	Transaction
6-Mar-13	1,602	PNM	Option Exercise
6-Mar-13	2,230	PNM	Disposition (Non Open Market) at $23.09 per share. (Value of $51,490)
6-Mar-13	5,310	PNM	Acquisition (Non Open Market)
5-Mar-12	4,806	PNM	Acquisition (Non Open Market) at $0 per share.
23-Jan-12	0	PNM	Statement of Ownership