HECLA MINING CO/DE/ — Director's Dealing 2018

Mar 22, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HECLA MINING CO/DE/ (HL)
CIK: 0000719413
Period of Report: 2018-03-21

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-03-21	Common Stock	M	212602	—	Acquired	3363739	Direct
2018-03-21	Common Stock	A	254119	—	Acquired	3617858	Direct
2018-03-21	Common Stock	J	20115	—	Acquired	20115	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-03-21	Performance Rights	$0	M	204918	Acquired	2017-12-31	Common Stock (204918)	Direct

Footnotes

F1: See footnotes 4 and 5. Shares received upon settlement of performance rights awarded in July 2015.

F2: 50% of the 2015-2017 Long-term Incentive Plan award was paid in equity.

F3: Consists of 1,736,715 shares held directly, 1,651,900 shares held in the Key Employee Deferred Compensation Plan, and 229,243 unvested restricted stock units.

F4: On July 1, 2015, 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 2014 compared to the average stock price of Hecla and our peers over the last 60 calendar days of 2017. 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 ($2.44), and therefore reported an award of 204,918 rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Baker's award value was $518,750, and he therefore received 212,602 shares in settlement of award (with the shares valued at the $2.44 closing price on July 1, 2015).

F6: Consists of outstanding performance rights.

F7: Held as 1,664.924 units in Mr. Baker's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 20,115 shares.