HECLA MINING CO/DE/ — Director's Dealing 2023

Jun 23, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HECLA MINING CO/DE/ (HL)
CIK: 0000719413
Period of Report: 2023-06-21

Reporting Person: Clary Michael L. (Sr. VP & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-06-21	Common Stock	F	33286	—	Disposed	209996	Direct
2023-06-21	Common Stock	A	40990	$5.05	Acquired	209996	Direct
2023-06-21	Common Stock	J	5234	—	Acquired	5234	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-06-21	Performance rights	$0	A	27327	Acquired	2026-01-01	Common Stock (27327)	Direct

Footnotes

F1: Mr. Clary was awarded (i) 66,007 restricted stock units on June 22, 2020, (ii) 21,574 restricted stock units on June 21, 2021, and (iii) 40,632 restricted stock units on June 21, 2022. The restrictions lapsed on 1/3 of those vesting units (42,737 shares). Mr. Clary elected to have Hecla Mining Company withhold 33,286 shares to cover his tax liability.

F2: Consists of 66,353 shares held directly, 68,374 performance-based units, and 75,269 unvested restricted stock units. NOTE - Mr. Clary had previously reported in a Form 4 that he had 7,566 shares that were held in a trust for the benefit of his minor children. Mr. Clary resigned the position as trustee of the trust, and the new trustee of the trust is not an immediate family member. Mr. Clary disclaims beneficial ownership of these securities, and the filing of this report is not an admission that he is the beneficial owner of these securities for purposes of Section 16 or for any other purpose. Therefore the 7,566 shares are not included in this total.

F3: Award of restricted stock units that vest as follows: 13,664 shares on June 21, 2024, 13,663 shares on June 21, 2025, and 13,663 shares on June 21, 2026.

F4: Held as 436.207 units in Mr. Clary's 401(k) account under the Hecla Mining Company Capital Accumulation Plan, and estimated to be 5,234 shares.

F5: Mr. Clary was awarded performance rights representing the contingent right to receive between $69,000 and $276,000 worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return performance over the 3-year period (January 1, 2023 to December 31, 2025) relative to our peers. Examples of the potential grant of shares to Mr. Clary under this plan are as follows: 100th percentile rank among peers = maximum award at 200% of target ($276,000 in stock); 40th to 60th percentile rank among peers = target award at grant value ($138,000 in stock); and 25th percentile rank among peers = threshold award at 50% of target ($69,000 in stock).

F6: See footnote 2.