SEC Form 4 · accession 0001104659-16-144468
MINES MANAGEMENT INC · MGN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Glenn Dobbs
Officer — CEO · Director
Period of report
Sep 13, 2016
Accepted (ET)
Sep 13, 2016 · 8:37 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000066649
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Sep 13, 2016 | D | 2,063,481 | — | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F12,F13,F2 | $0.20 | Sep 13, 2016 | D | 4,762 | D | — | Feb 19, 2018 | Common Stock | 4,762 | 0 | D |
| Stock Options (Right to Buy)F12,F14,F3 | $0.57 | Sep 13, 2016 | D | 40,000 | D | — | Dec 31, 2018 | Common Stock | 40,000 | 0 | D |
| Stock Options (Right to Buy)F12,F15,F4 | $0.57 | Sep 13, 2016 | D | 60,000 | D | — | Jun 1, 2019 | Common Stock | 60,000 | 0 | D |
| Stock Options (Right to Buy)F12,F16,F5 | $0.91 | Sep 13, 2016 | D | 50,000 | D | — | Nov 30, 2019 | Common Stock | 50,000 | 0 | D |
| Stock Options (Right to Buy)F12,F17,F6 | $0.91 | Sep 13, 2016 | D | 50,000 | D | — | Apr 15, 2020 | Common Stock | 50,000 | 0 | D |
| Stock Options (Right to Buy)F12,F18,F7 | $0.54 | Sep 13, 2016 | D | 116,667 | D | — | Apr 1, 2020 | Common Stock | 116,667 | 0 | D |
| Stock Options (Right to Buy)F12,F19,F8 | $0.54 | Sep 13, 2016 | D | 116,668 | D | — | Feb 12, 2021 | Common Stock | 116,668 | 0 | D |
| Stock Options (Right to Buy)F12,F20,F9 | $0.54 | Sep 13, 2016 | D | 33,332 | D | — | Apr 1, 2020 | Common Stock | 33,332 | 0 | D |
| Stock Options (Right to Buy)F12,F21,F10 | $0.54 | Sep 13, 2016 | D | 33,333 | D | — | Feb 12, 2021 | Common Stock | 33,333 | 0 | D |
| Stock Options (Right to Buy)F12,F22,F11 | $0.28 | Sep 13, 2016 | D | 67,859 | D | — | Feb 12, 2021 | Common Stock | 67,859 | 0 | D |
Explanation of responses
- F1Common stock disposed of pursuant to the Agreement and Plan of Merger, dated as of May 23, 2016, as amended on June 29, 2016 and July 29, 2016, among Mines Management, Inc. ("Mines Management"), Hecla Mining Company ("Hecla"), and HL Idaho Corp. ("Merger Sub"), whereby Merger Sub was merged with and into Mines Management (the "Merger") and each share of common stock of Mines Management was converted into 0.2218 (the "Exchange Rate") of a share of Hecla common stock, resulting in the receipt of 457,680 shares of Hecla common stock plus cash paid in lieu of fractional shares. The closing price of Hecla common stock on September 13, 2016, the effective date of the Merger, was $5.40.
- F10The option was granted on 12/12/2014 and vested 100% on 02/12/2016.
- F11The option was granted on 10/27/2015 and vested 100% on 02/12/2016.
- F12The option was cancelled in connection with the Merger in consideration for shares of Hecla common stock (with cash being paid in lieu of fractional shares) representing the value equal to the difference between (x) the product of the Exchange Rate and the closing price of Hecla common stock on the date prior to the effective date of the Merger and (y) the option exercise price. The closing price of Hecla common stock on September 13, 2016, the effective date of the Merger, was $5.40.
- F13The Hecla common stock issued had a value of $5,163.07.
- F14The Hecla common stock issued had a value of $28,568.88.
- F15The Hecla common stock issued had a value of $42,853.32.
- F16The Hecla common stock issued had a value of $18,711.10.
- F17The Hecla common stock issued had a value of $18,711.10.
- F18The Hecla common stock issued had a value of $82,826.15.
- F19The Hecla common stock issued had a value of $82,826.89.
- F2The option was granted on 02/19/2013 and vested 100% on 02/19/2013.
- F20The Hecla common stock issued had a value of $24,806.41.
- F21The Hecla common stock issued had a value of $24,807.15.
- F22The Hecla common stock issued had a value of $68,145.50.
- F3The option was granted on 07/19/2013 and vested 100% on 12/31/2013.
- F4The option was granted on 07/19/2013 and vested 100% on 06/01/2014.
- F5The option was granted on 6/11/2014 and vested 100% on 11/30/2014.
- F6The option was granted on 6/11/2014 and vested 100% on 04/15/2015.
- F7The option was granted on 12/12/2014 and vested 100% on 04/01/2015.
- F8The option was granted on 12/12/2014 and vested 100% on 02/12/2016.
- F9The option was granted on 12/12/2014 and vested 100% on 04/01/2015.