Russell D. Lawlar - Feb 26, 2024 Form 4 Insider Report for HECLA MINING CO/DE/ (HL)

Signature
Tami D. Whitman, Attorney-in-Fact for Russell D. Lawlar
Stock symbol
HL
Transactions as of
Feb 26, 2024
Transactions value $
-$30,656
Form type
4
Date filed
2/28/2024, 05:16 PM
Previous filing
Jun 23, 2023
Next filing
Mar 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HL Common Stock Options Exercise $0 +24.4K +21.4% $0.00 139K Feb 26, 2024 Direct F4, F5
transaction HL Common Stock Tax liability -$30.7K -8.66K -6.25% $3.54 130K Feb 26, 2024 Direct F6, F7
transaction HL Common Stock Other $0 +12.3K $0.00 12.3K Feb 26, 2024 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 Performance rights Options Exercise $0 +14K +31.01% $0.00 59K Feb 26, 2024 Common Stock 14K $0.00 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 June 21, 2021, Mr. Lawlar was awarded performance rights. The performance rights represented a contingent right to receive between $55,000 and $220,000 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., $220,000 worth of common stock); (2) 60th percentile rank among peers = target award at grant value (i.e., $110,000 worth of common stock); or (3) 50th percentile rank among peers = threshold payout at 50% of target (i.e., $55,000 worth of common stock).
F2 In reporting the number of performance rights at the time of the award, Mr. Lawlar assumed a target payout (i.e., $110,000 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 13,959 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Lawlar's award value was 175% and he therefore received 24,428 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 57,635 shares held directly, and 80,937 unvested restricted stock units.
F6 Shares withheld for tax liability on 24,428 performance rights that vested.
F7 Consists of 48,975 shares held directly, and 80,937 unvested restricted stock units.
F8 Consists of 1,024.911 units in Mr. Lawlar's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 12,313 shares.