SEC Form 4 · accession 0001166074-16-000004

· 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

Mar 8, 2016

Accepted (ET)

Mar 8, 2016 · 5:17 pm EST

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 Stock^F1	Mar 8, 2016	M	236,177	$0.00	A	1,862,459	D
Common Stock^F2,F3	Mar 8, 2016	A	374,629	$0.00	A	2,899,387	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Performance Rights^F4,F5,F6	$0.00	Mar 8, 2016	M	170,648	D	Dec 31, 2015	Dec 31, 2015	Common Stock	170,648	356,433	D

Explanation of responses

F1See footnotes 4 and 5. Shares received upon settlement of performance rights awarded in June 2013.
F250% of the 2015 Annual Incentive Plan and 2013-2015 Long-term Incentive Plan payments were paid in equity.
F3Consists of 1,862,459 shares held directly, 674,117 shares held in the Key Employee Deferred Compensation Plan, and 362,811 unvested restricted stock units.
F4On June 21, 2013, Mr. Baker was awarded performance rights. The performance rights represented a contingent right to receive between $250,000 and $1 million worth of Hecla Mining Company common stock based on Hecla's total shareholder return performance over the 3-year period relative to our peers using the average stock price of Hecla and our peers over the last 60 calendar days of 2012 compared to the average stock price of Hecla and our peers over the last 60 calendar days of 2015. The potential grant of shares to Mr. Baker under this plan were as follows: (1) 100th percentile rank among peers = maximum payout at 200% of target (i.e. $1 million worth of common stock); (2) 50th percentile rank among peers = target payout at grant value (i.e. $500,000 worth of common stock); or (3) 25th percentile rank among peers = threshold payout at 50% target (i.e. $250,000 worth of common stock).
F5In reporting the number of performance rights at the time of the award, Mr. Baker assumed 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 ($2.93), and therefore reported an award of 170,648 rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Baker's award value was $692,000, and he therefore received 236,177 shares in settlement of award (with the shares valued at the $2.93 closing price on June 21, 2013).
F6Consists of 356,433 outstanding performance rights.