HECLA MINING CO/DE/ — Director's Dealing 2024

Feb 28, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HECLA MINING CO/DE/ (HL)
CIK: 0000719413
Period of Report: 2024-02-26

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-02-26	Common Stock	M	111041	—	Acquired	5303784	Direct
2024-02-26	Common Stock	J	52022	—	Acquired	52022	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-02-26	Performance rights	$0	M	63452	Acquired	2023-12-31	Common Stock (63452)	Direct

Footnotes

F1: On June 21, 2021, 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, 2021 through December 31, 2023, 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., $1,000,000 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% of 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 ($7.88), and therefore reported an award of 63,452 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Baker's award value was 175%, and he therefore received 111,041 shares in settlement of the award (with the shares valued at the $7.88 closing price on June 21, 2021).

F3: Consists of outstanding performance rights.

F4: See footnotes (1) and (2). Shares received upon settlement of performance rights awarded in June 2021.

F5: Consists of 3,247,268 shares held directly, 1,795,964 shares held in the Key Employee Deferred Compensation Plan, and 260,552 unvested restricted stock units.

F6: Held as 4,330.088 units in Mr. Baker's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 52,022 shares.