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HECLA MINING CO/DE/ — Director's Dealing 2024
Feb 28, 2024
30738_dirs_2024-02-28_efa87e05-5c96-4ea8-8064-83a4c0e78d8d.zip
Director's Dealing
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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: Brown Robert Denis (VP - Corp. Develop & Sustain.)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-02-26 | Common Stock | M | 23319 | — | Acquired | 433112 | Direct |
| 2024-02-26 | Common Stock | F | 12476 | $3.54 | Disposed | 420636 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-02-26 | Performance rights | $0 | M | 13325 | Acquired | 2023-12-31 | Common Stock (13325) | Direct |
Footnotes
F1: On June 21, 2021, 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, 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., $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% of 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 ($7.88), and therefore reported an award of 13,325 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Brown's award value was 175%, and therefore he received 23,319 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 363,732 shares held directly, and 69,380 unvested restricted stock units.
F6: Shares withheld for tax liability on 23,319 performance rights that vested.
F7: Consists of 351,256 shares held directly, and 69,380 unvested restricted stock units.