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Copyright © 2021 Albuquerque Journal PNM Resources’ top six executives could receive a combined $38 million in executive compensation if shareholders approve the company’s proposed merger with Connecticut-based energy giant Avangrid. About $12.5 million of that would go to three departing execs as a “golden parachute.” The rest is earnings and benefits the six are entitled to under their employment contracts because of goals they have achieved and is compensation they would receive regardless of the merger. PNM will pull out of the coal-fired San Juan Generating Station, near Farmington, in 2022 (Eddie Moore/Albuquerque Journal) The company has scheduled a special shareholder meeting for Feb. 12 to vote on both the merger and executive compensation. If the deal is approved, the investment banking firm Evercore will also earn a $36.5 million fee for brokering the deal.

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