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

Feb 28, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HECLA MINING CO/DE/ (HL)
CIK: 0000719413
Period of Report: 2023-02-24

Reporting Person: Brown Robert Denis (VP - Corp. Dev. & Sustain.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-24	Common Stock	M	69306	—	Acquired	429724	Direct
2023-02-24	Common Stock	F	37079	$4.98	Disposed	392645	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-24	Performance rights	$0	M	34653	Acquired	2022-12-31	Common Stock (34653)	Direct

Footnotes

F1: On June 22, 2020, Mr. Brown was awarded performance rights. The performance rights represented a contingent right to receive between $52,500 and $210,000 worth of Hecla Mining Company common stock based on Hecla's total shareholder return performance over the 3-year period of January 1, 2020 through December 31, 2022, 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., $210,000 worth of common stock); (2) 60th percentile rank among peers = target award at grant value (i.e., $105,000 worth of common stock); or (3) 50th percentile rank among peers = threshold payout at 50% target (i.e., $52,500 worth of common stock).

F2: In reporting the number of performance rights at the time of the award, Mr. Brown assumed a target payout (i.e., $105,000 worth of common stock), with the common stock valued at the closing price on the day of the award ($3.03), and therefore reported an award of 34,653 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Brown's award value was $210,000, and therefore he received 69,306 shares in settlement of the award (with the shares valued at the $3.03 closing price on June 22, 2020).

F3: Consists of outstanding performance rights.

F4: See footnotes (1) and (2). Shares received upon settlement of performance rights awarded in June 2020.

F5: Consists of 360,213 shares held directly, and 69,511 unvested restricted stock units.

F6: Shares withheld for tax liability on 69,306 performance rights that vested.

F7: Consists of 323,134 shares held directly, and 69,511 unvested restricted stock units.