Robert D. Brown - Jun 21, 2023 Form 4 Insider Report for HECLA MINING CO/DE/ (HL)

Role
VP - Corp. Develop & Sustain.
Signature
Tami D. Whitman, Attorney-in-Fact for Robert D. Brown
Stock symbol
HL
Transactions as of
Jun 21, 2023
Transactions value $
$187,002
Form type
4
Date filed
6/23/2023, 11:23 AM
Previous filing
Feb 28, 2023
Next filing
Feb 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HL Common Stock Tax liability $0 -19.9K -4.02% $0.00 474K Jun 21, 2023 Direct F1, F2
transaction HL Common Stock Award $187K +37K +8.47% $5.05 474K Jun 21, 2023 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-based units Award $0 +25.1K +5.58% $0.00 474K Jun 21, 2023 Common Stock 25.1K $0.00 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Mr. Brown was awarded 52,805 restricted stock units on June 22, 2020, (ii) 20,305 restricted stock units on June 21, 2021, and (iii) 38,374 restricted stock units on June 21, 2022. The restrictions lapsed on 1/3 of those vesting units (37,161 shares). Mr. Brown elected to have Hecla Mining Company withhold 19,882 shares to cover his tax liability.
F2 Consists of 340,413 shares held directly, 64,334 performance-based shares, and 69,380 unvested restricted stock units.
F3 Award of restricted stock units that vest as follows: 12,344 shares on June 21, 2024, 12,343 shares on June 21, 2025, and 12,343 shares on June 21, 2026.
F4 See footnote 2.
F5 Mr. Brown was awarded performance rights representing the contingent right to receive between $63,250 and $253,000 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. Brown under this plan are as follows: 100th percentile rank among peers = maximum award at 200% of target ($253,000 in stock); 40th to 60th percentile rank among peers = target award at grant value ($126,500 in stock); and 25th percentile rank among peers = threshold award at 50% of target ($63,250 in stock).
F6 See footnote 2.