Robert D. Brown - 21 Jun 2021 Form 4 Insider Report for HECLA MINING CO/DE/ (HL)

Role
VP - Corp. Development
Signature
Tami D. Whitman, Attorney-in-Fact for Robert D. Brown
Issuer symbol
HL
Transactions as of
21 Jun 2021
Net transactions value
+$160,003
Form type
4
Filing time
23 Jun 2021, 19:23:45 UTC
Next filing
02 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HL Common Stock Tax liability $0 -33,270 -7.6% $0.000000 404,398 21 Jun 2021 Direct F1, F2
transaction HL Common Stock Award $160,003 +20,305 +5.3% $7.88 404,398 21 Jun 2021 Direct F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HL Performance Rights Award $0 +13,325 +3.4% $0.000000 404,398 21 Jun 2021 Common Stock 13,325 $0.000000 Direct F5, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Mr. Brown was awarded (i) 52,219 restricted stock units on June 19, 2018; (ii) 81,522 restricted stock units on June 21, 2019; and (iii) 52,805 restricted stock units on June 22, 2020. The restrictions lapsed on 1/3 of those vesting units (62,182 shares). Mr. Brown elected to have Hecla Mining Company withhold 33,270 shares to cover his tax liability.
F2 Consists of 211,238 shares held directly, 110,478 performance-based units, and 82,682 unvested restricted stock units.
F3 Award of restricted stock units that vest as follows: 6,769 shares on June 21, 2022, 6,768 shares on June 21, 2023, and 6,768 shares on June 21, 2024.
F4 See footnote 2
F5 Mr. Brown was awarded performance rights representing the contingent right to receive between $52,500 and $210,000 worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return performance over the 3-year period (January 1, 2021 to December 31, 2023) relative to our peers. Examples of the potential grant of shares to Mr. Brown under this plan are as follows: 100th percentile rank among peers = maximum award at 200% target ($210,000 in stock); 60th percentile rank among peers = target award at grant value ($105,000 in stock) and 50th percentile rank among peers = threshold award at 50% of target ($52,500 in stock).
F6 The number shown in Column 5 of Table II assumes 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). The actual number of shares received (if any) by Mr. Brown will depend on the Total Shareholder Return performance over the 3-year period and will be determined following the termination of that period).
F7 See footnote 2.