SEC Form 4 · accession 0001667482-18-000002
HECLA MINING CO/DE/ · HL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert Denis Brown
Officer — Vice President - Corp. Develp.
Period of report
Jun 19, 2018
Accepted (ET)
Jun 19, 2018 · 7:42 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 | 52,219 | $3.83 | A | 116,595 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF3,F5,F4 | $0.00 | Jun 19, 2018 | A | 33,943 | A | Jan 1, 2021 | Jan 1, 2021 | Common Stock | 33,943 | 42,461 | D |
Explanation of responses
- F1Award of restricted stock units that vest as follows: 17,406 shares on June 21, 2019; 17,406 shares on June 21, 2020; and 17,407 shares on June 21, 2021.
- F2Total number of unvested restricted stock units held by Mr. Brown.
- F3Mr. Brown was awarded performance rights representing the contingent right to receive between $65,000 and $260,000 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. Brown under this plan are as follows: 100th percentile rank among peers = maximum award at 200% of target ($260,000 in stock); 60th percentile rank among peers = target award at grant value ($130,000 in stock); and 50th percentile rank among peers = threshold award at 50% of target ($65,000 in stock).
- F4The number shown in Column 5 of Table II assumes a target payout (i.e., $130,000 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. Brown will depend on the Total Shareholder Return performance over the 3-year period and will be determined following the termination of that period.
- F5Total number of performance units held by Mr. Brown.