SEC Form 4 · accession 0001481905-18-000002
HECLA MINING CO/DE/ · HL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David C Sienko
Officer — Vice President & Gen. Counsel
Period of report
Jun 19, 2018
Accepted (ET)
Jun 19, 2018 · 8:07 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 19, 2018 | A | 45,692 | $3.83 | A | 116,299 | D | |
| Common StockF3 | Jun 19, 2018 | J | 6,209 | $3.83 | A | 6,209 | 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 19, 2018 | A | 27,415 | A | Jan 1, 2021 | Jan 1, 2021 | Common Stock | 27,415 | 35,933 | D |
Explanation of responses
- F1Award of restricted stock units that vest as follows: 15,230 shares on June 21, 2019; 15,231 shares on June 21, 2020; and 15,231 shares on June 21, 2021.
- F2Total number of unvested restricted stock units held by Mr. Sienko.
- F3Held as 511.264 units in Mr. Sienko's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 6,209 shares.
- F4Mr. Sienko was awarded performance rights representing the contingent right to receive between $52,500 and $210,000 worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return performance over the 3-year period (January 1, 2018 to December 31, 2020) relative to our peers. Examples of the potential grant of shares to Mr. Sienko under this plan are as follows: 100th percentile rank among peers = maximum award at 200% target ($210,000 in stock); 60th percentile rank among peers = target award at grant value ($105,000 in stock); and 50th percentile rank among peers = threshold award at 50% of target ($52,500 in stock).
- F5The number shown in Column 5 of Table II assumes a target payout (i.e., $105,000 worth of common stock), with the common stock valued at the closing price on the day of the award ($3.83). The actual number of shares received (if any) by Mr. Sienko will depend on the Total Shareholder Return performance over the 3-year period and will be determined following the termination of that period.
- F6Total number of performance units held by Mr. Sienko.