SEC Form 4 · accession 0001166074-17-000001

· 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 20, 2017

Accepted (ET)

Mar 22, 2017 · 3:41 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 Stock^F1	Mar 20, 2017	M	276,136	$0.00	A	2,935,394	D
Common Stock^F2,F3	Mar 20, 2017	A	108,789	$0.00	A	3,044,183	D
Common Stock^F7	Mar 20, 2017	J	16,998	$5.06	A	16,998	I	By 401(k) Plan

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 20, 2017	M	151,515	A	Dec 31, 2016	Dec 31, 2016	Common Stock	151,515	318,554	D

Explanation of responses

F1See footnotes 4 and 5. Shares received upon settlement of performance rights awarded in June 2014.
F225% of the 2016 Annual Incentive Plan and 2014-2016 Long-term Incentive Plan payments were paid in equity.
F3Consists of 1,469,596 shares held directly, 1,273,834 shares held in the Key Employee Deferred Compensation Plan, and 300,753 unvested restricted stock units.
F4On June 25, 2014, 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 2013 compared to the average stock price of Hecla and our peers over the last 60 calendar days of 2016. 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) 60th percentile rank among peers = target payout at grant value (i.e. $500,000 worth of common stock); or (3) 50th 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 ($3.30), and therefore reported an award of 151,515 rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Baker's award value was $911,250, and he therefore received 276,136 shares in settlement of award (with the shares valued at the $3.30 closing price on June 25, 2014).
F6Consists of 318,554 outstanding performance rights.
F7Held as 1,404.702 units in Mr. Baker's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 16,998 shares.