Statement of Changes in Beneficial Ownership (4)
June 24 2020 - 3:59PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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HALL LINDSAY A |
2. Issuer Name and Ticker or Trading Symbol
HECLA MINING CO/DE/
[
HL
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Sr. VP and CFO |
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(Last)
(First)
(Middle)
422 SOUTH CHURCH STREET |
3. Date of Earliest Transaction
(MM/DD/YYYY)
6/22/2020 |
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(Street)
CHARLOTTE, NC 28202
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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| Common Stock | 6/22/2020 | | A | | 74257 (1) | A | $3.03 | 181889 (2) | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code
(Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) | 8. Price of Derivative Security
(Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
| Performance Rights | $0 | 6/22/2020 | | A | | 49505 (3) | | 1/1/2023 | 1/1/2023 | Common Stock | 49505 (4) | $0 | 1150609 (5) | D | |
| Explanation of Responses: |
| (1) | Award of restricted stock units that vest as follows: 24,753 shares on June 21, 2021; 24,752 shares on June 21, 2022; and 24,752 shares on June 21, 2023. |
| (2) | Total number of unvested restricted stock units held by Mr. Hall. |
| (3) | Mr. Hall was awarded performance rights representing the contingent right to receive between $75,000 and $300,000 worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return performance over the 3-year period (January 1, 2020 to December 31, 2022) 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% target ($300,000 in stock); 60th percentile rank among peers = target award at grant value ($150,000 in stock); and 50th percentile rank among peers = threshold award at 50% of target ($75,000 in stock). |
| (4) | The number shown in Column 5 of Table II assumes a target payout (i.e., $150,000 worth of common stock), with the common stock valued at the closing price on the day of the award ($3.03). 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. |
| (5) | Total consists of 794,612 shares held directly, 174,108 performance-based shares, and 181,889 unvested restricted stock units. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
HALL LINDSAY A
422 SOUTH CHURCH STREET
CHARLOTTE, NC 28202 |
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| Sr. VP and CFO |
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Signatures
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| Tami D. Whitman, Attorney-in-Fact for Lindsay A. Hall | | 6/24/2020 |
| **Signature of Reporting Person | Date |
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