SEC Form 4 · accession 0001166074-15-000003
HECLA MINING CO/DE/ · HL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Phillips S Baker Jr.
Officer — President & CEO · Director
Period of report
Jun 30, 2015
Accepted (ET)
Jul 2, 2015 · 4:46 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000719413
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jul 1, 2015 | A | 204,918 | $0.00 | A | 362,811 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF3,F5,F4 | $0.00 | Jul 1, 2015 | A | 204,918 | A | Jan 1, 2018 | Jan 1, 2018 | Common Stock | 204,918 | 527,081 | D |
| Phantom UnitsF6,F7,F8 | $0.00 | Jun 30, 2015 | A | 18,117 | A | — | — | Common Stock | 18,117 | 299,488 | D |
Explanation of responses
- F1Award of restricted stock units that vest as follows: 68,306 shares on June 21, 2016; 68,306 shares on June 21, 2017; and 68,306 shares on June 21, 2018.
- F2Total number of unvested restricted stock units held by Mr. Baker.
- F3Mr. Baker was awarded performance rights representing the contingent right to receive between $250,000 and $1 million worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return performance over the 3-year period (January 1, 2015 to December 31, 2017) relative to our peers. Examples of the potential grant of shares to Mr. Baker under this plan are as follows: 100th percentile rank among peers = maximum award at 200% of target ($1 million in stock); 60th percentile rank among peers = target award at grant value ($500,000 in stock); and 50th percentile rank among peers = threshold award at 50% of target ($250,000 in stock).
- F4The number shown in column 5 of Table II assumes a target payout (i.e., $500,000 worth of common stock), with the common stock valued at the closing price on the day of the award ($2.44). The actual number of shares actually received (if any) by Mr. Baker will depend on the Total Shareholder Return performance over the 3-year period and will be determined following the termination of that period.
- F5Represents all similar performance rights held by Mr. Baker.
- F6These Phantom Units have been credited to Mr. Baker's company stock account under the Key Employee Deferred Compensation Plan as a result of a company matching contribution under the Key Employee Deferred Compensation Plan, with each unit representing the right to receive one share of company common stock upon retirement or other distribution event.
- F7Total deferred shares held by Mr. Baker under the Key Employee Deferred Compensation Plan.
- F8The phantom units do not have an exercisable date and/or expiration date because they are deferred until a distribution event under the Key Employee Deferred Compensation Plan.