SEC Form 4 · accession 0001329292-17-000002
HECLA MINING CO/DE/ · HL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lindsay A Hall
Officer — Sr. VP & CFO
Period of report
Jun 7, 2017
Accepted (ET)
Jun 9, 2017 · 3:56 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 | 58,773 | $5.87 | A | 114,150 | 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,F4 | $0.00 | Jun 7, 2017 | A | 20,443 | A | Jan 1, 2020 | Jan 1, 2020 | Common Stock | 20,443 | 20,443 | D |
Explanation of responses
- F1Award of restricted stock units that vest as follows: 19,591 shares on June 21, 2018; 19,591 shares on June 21, 2019; and 19,591 shares on June 21, 2020.
- F2Total number of unvested restricted stock units held by Mr. Hall.
- F3Mr. Hall was awarded performance rights representing the contingent right to receive between $60,000 and $240,000 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. Hall under this plan are as follows: 100th percentile rank among peers = maximum award at 200% of target ($240,000 in stock); 60th percentile rank among peers = target award at grant value ($120,000 in stock); and 50th percentile rank among peers = threshold award at 50% of target ($60,000 in stock).
- F4The number shown in Column 5 of Table II assumes a target payout (i.e., $120,000 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. Hall will depend on the Total Shareholder Return performance over the 3-year period and will be determined following the termination of that period.