SEC Form 4 · accession 0001166074-17-000002
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 7, 2017
Accepted (ET)
Jun 9, 2017 · 4:41 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 StockF1,F2 | Jun 7, 2017 | A | 85,179 | $5.87 | A | 385,932 | D | |
| Common StockF3 | Jun 8, 2017 | J | 18,592 | $5.98 | A | 18,592 | 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 RightsF4,F6,F5 | $0.00 | Jun 7, 2017 | A | 102,215 | A | Jan 1, 2020 | Jan 1, 2020 | Common Stock | 102,215 | 420,769 | D |
| Phantom UnitsF7,F9,F8 | $0.00 | Jun 7, 2017 | A | 8,775 | A | — | — | Common Stock | 8,775 | 1,282,609 | D |
Explanation of responses
- F1Award of restricted stock units that vest as follows: 28,393 shares on June 21, 2018; 28,393 shares on June 21, 2019; and 28,393 shares on June 21, 2020.
- F2Total number of unvested restricted stock units held by Mr. Baker.
- F3Held as 1,569.890 units in Mr. Baker's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 18,592 shares.
- F4Mr. Baker was awarded performance rights representing the contingent right to receive between $300,000 and $1,200,000 worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return performance over the 3-year period (January 1, 2017 to December 31, 2019) 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 ($1,120,000 in stock); 60th percentile rank among peers = target award at grant value ($600,000 in stock); and 50th percentile rank among peers = threshold award at 50% of target ($300,000) in stock.
- F5The number shown in Column 5 of Table II assumes a target payout (i.e., $600,000 worth of common stock), with the common stock valued at the closing price on the day of the award ($5.87). The actual number of shares 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.
- F6Represents all similar performance rights held by Mr. Baker.
- F7These 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.
- 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.
- F9Total number of deferred shares held by Mr. Baker under the Key Employee Deferred Compensation Plan.