HECLA MINING CO/DE/ — Director's Dealing 2022

Mar 2, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HECLA MINING CO/DE/ (HL)
CIK: 0000719413
Period of Report: 2022-02-28

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-02-28	Common Stock	M	520833	—	Acquired	4835497	Direct
2022-02-28	Common Stock	F	195090	$5.76	Disposed	4640407	Direct
2022-02-28	Common Stock	J	40392	—	Acquired	40392	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-02-28	Performance rights	$0	M	271391	Acquired	2021-12-31	Common Stock (271391)	Direct

Footnotes

F1: On June 21, 2019, Mr. Baker was awarded performance rights. The performance rights represented a contingent right to receive between $250,000 and $1,000,000 worth of Hecla Mining Company common stock based on Hecla's total shareholder return performance over the 3-year period from January 1, 2019 through December 31, 2021, based on the following percentile rank within Hecla's peer group companies: (1) 100th percentile rank among peers = maximum award at 200% of target (i.e., $1 million worth of common stock); (2) 60th percentile rank among peers = target award 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).

F2: 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 ($1.84), and therefore reported an award of 271,739 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Baker's award value was $958,333, and he therefore received 520,833 shares in settlement of the award (with the shares valued at the $1.84 closing price on June 21, 2019).

F3: Consists of outstanding performance rights.

F4: See footnotes (1) and (2). Shares received upon settlement of performance rights awarded in June 2019.

F5: Consists of 2,815,610 shares held directly, 1,795,964 shares held in the Key Employee Deferred Compensation Plan, and 223,923 unvested restricted stock units.

F6: Shares withheld for tax liability on 520,833 performance rights that vested.

F7: Consists of 2,620,520 shares held directly, 1,795,964 shares held in the Key Employee Deferred Compensation Plan, and 223,923 unvested restricted stock units.

F8: Held as 3,701.816 units in Mr. Baker's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 40,392 shares.