HECLA MINING CO/DE/ — Director's Dealing 2017

Mar 22, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HECLA MINING CO/DE/ (HL)
CIK: 0000719413
Period of Report: 2017-03-20

Reporting Person: BAKER PHILLIPS S JR (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-20	Common Stock	M	276136	—	Acquired	2935394	Direct
2017-03-20	Common Stock	A	108789	—	Acquired	3044183	Direct
2017-03-20	Common Stock	J	16998	$5.06	Acquired	16998	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-20	Performance Rights	$0	M	151515	Acquired	2016-12-31	Common Stock (151515)	Direct

Footnotes

F1: See footnotes 4 and 5. Shares received upon settlement of performance rights awarded in June 2014.

F2: 25% of the 2016 Annual Incentive Plan and 2014-2016 Long-term Incentive Plan payments were paid in equity.

F3: Consists of 1,469,596 shares held directly, 1,273,834 shares held in the Key Employee Deferred Compensation Plan, and 300,753 unvested restricted stock units.

F4: On June 25, 2014, Mr. Baker was awarded performance rights. The performance rights represented a contingent right to receive between $250,000 and $1 million worth of Hecla Mining Company common stock based on Hecla's total shareholder return performance over the 3-year period relative to our peers using the average stock price of Hecla and our peers over the last 60 calendar days of 2013 compared to the average stock price of Hecla and our peers over the last 60 calendar days of 2016. The potential grant of shares to Mr. Baker under this plan were as follows: (1) 100th percentile rank among peers = maximum payout at 200% of target (i.e. $1 million worth of common stock); (2) 60th percentile rank among peers = target payout at grant value (i.e. $500,000 worth of common stock); or (3) 50th percentile rank among peers = threshold payout at 50% target (i.e. $250,000 worth of common stock).

F5: In reporting the number of performance rights at the time of the award, Mr. Baker assumed a target payout (i.e. $500,000 worth of common stock), with the common stock valued at the closing price on the day of the award ($3.30), and therefore reported an award of 151,515 rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Baker's award value was $911,250, and he therefore received 276,136 shares in settlement of award (with the shares valued at the $3.30 closing price on June 25, 2014).

F6: Consists of 318,554 outstanding performance rights.

F7: Held as 1,404.702 units in Mr. Baker's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 16,998 shares.