SEC Form 4 · accession 0001374913-17-000002
HECLA MINING CO/DE/ · HL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dean WA McDonald
Officer — Sr. VP - Exploration
Period of report
Jun 7, 2017
Accepted (ET)
Jun 9, 2017 · 4:13 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 | 51,107 | $5.87 | A | 231,558 | 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 | 13,629 | A | Jan 1, 2020 | Jan 1, 2020 | Common Stock | 13,629 | 13,629 | D |
Explanation of responses
- F1Award of restricted stock units that vest as follows: 22,728 shares on June 21, 2018; 22,727 shares on June 21, 2019; and 22,727 shares on June 21, 2020
- F2Total number of unvested restricted stock units held by Dr. McDonald.
- F3Dr. McDonald was awarded performance rights representing the contingent right to receive between $40,000 and $160,000 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 Dr. McDonald under this plan are as follows: 100th percentile rank among peers = maximum award at 200% of target ($160,000 in stock); 60th percentile rank among peers = target award at grant value ($80,000 in stock); and 50th percentile rank among peers = threshold award at 50% of target ($40,000 in stock).
- F4The number shown in Column 5 of Table II assumes a target payout (i.e., $80,000 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 Dr. McDonald will depend on the Total Shareholder Return performance over the 3-year period and will be determined following the termination of that period.