Lauren M. Roberts - 28 Feb 2022 Form 4 Insider Report for HECLA MINING CO/DE/ (HL)

Signature
Tami D. Whitman, Attorney-in-Fact for Lauren M. Roberts
Issuer symbol
HL
Transactions as of
28 Feb 2022
Net transactions value
-$238,608
Form type
4
Filing time
02 Mar 2022, 19:12:30 UTC
Previous filing
04 Jan 2022
Next filing
23 Jun 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HL Common Stock Options Exercise $0 +143,035 +26% $0.000000 703,123 28 Feb 2022 Direct F4, F5
transaction HL Common Stock Tax liability $238,608 -41,425 -5.9% $5.76 661,698 28 Feb 2022 Direct F6, F7
transaction HL Common Stock Other $0 +2,193 $0.000000 2,193 28 Feb 2022 Held in 401(k) Plan F8

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 Common Stock Options Exercise $0 +74,627 $0.000000 68,541 28 Feb 2022 Common Stock 74,627 $0.000000 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 5, 2019, Mr. Roberts was awarded performance rights. The performance rights represented a contingent right to receive between $75,000 and $300,000 worth of Hecla Mining Company common stock based on Hecla's total shareholder return performance over the 3-year period from January 1, 2019 through December 31, 2021, 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. $300,000 worth of common stock); (2) 60th percentile rank among peers = target award at grant value (i.e. $150,000 worth of common stock); or (3) 50th percentile rank among peers = threshold payout at 50% target (i.e. $75,000 worth of common stock).
F2 In reporting the number of performance rights at the time of the award, Mr. Roberts assumed a target payout (i.e. $150,000 worth of common stock), with the common stock valued at the closing price on the day of the award ($2.01), and therefore reported an award of 74,627 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Robert's award value was $287,500, and he therefore received 143,035 shares in settlement of the award (with the shares valued at the $2.01 closing price on August 5, 2019).
F3 Consists of outstanding performance rights.
F4 See footnotes (1) and (2). Shares received upon settlement of performance rights awarded in August 2019.
F5 Consists of 248,633 shares held directly, 339,119 shares held in the Key Employee Deferred Compensation Plan, and 115,371 unvested restricted stock units.
F6 Shares withheld for tax liability on 143,035 performance rights that vested.
F7 Consists of 207,208 shares held directly, 339,119 shares held in the Key Employee Deferred Compensation Plan, and 115,371 unvested restricted stock units.
F8 Held as 201.027 units in Mr. Robert's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 2,193 shares.