Sec Form 4 Filing - BAKER PHILLIPS S JR @ HECLA MINING CO/DE/ - 2022-02-28

Insider filing report for Changes in Beneficial Ownership
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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
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
BAKER PHILLIPS S JR
2. Issuer Name and Ticker or Trading Symbol
HECLA MINING CO/DE/ [ HL]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
President & CEO
(Last) (First) (Middle)
6500 NORTH MINERAL DRIVE, SUITE 200
3. Date of Earliest Transaction (MM/DD/YY)
02/28/2022
(Street)
COEUR D 'ALENE, ID83815
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/28/2022 M 520,833( 4 ) A $ 0 4,835,497( 5 ) D
Common Stock 02/28/2022 F 195,090( 6 ) D $ 5.76 4,640,407( 7 ) D
Common Stock 02/28/2022 J 40,392( 8 ) A $ 0 40,392 I Held in 401(k) Plan
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 02/28/2022 M 271,391( 1 )( 2 ) 12/31/2021 12/31/2021 Common Stock 271,391 $ 0 195,465( 3 ) D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
BAKER PHILLIPS S JR
6500 NORTH MINERAL DRIVE
SUITE 200
COEUR D 'ALENE, ID83815
X President & CEO
Signatures
Tami D. Whitman, Attorney-in-Fact for Phillips S. Baker, Jr. 03/02/2022
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On June 21, 2019, Mr. Baker was awarded performance rights. The performance rights represented a contingent right to receive between $250,000 and $1,000,000 worth of Hecla Mining Company common stock based on Hecla's total shareholder return performance over the 3-year period from January 1, 2019 through December 31, 2021, based on the following percentile rank within Hecla's peer group companies: (1) 100th percentile rank among peers = maximum award at 200% of target (i.e., $1 million worth of common stock); (2) 60th percentile rank among peers = target award at grant value (i.e. $500,000 worth of common stock); or (3) 50th percentile rank among peers = threshold payout at 50% target (i.e. $250,000 worth of common stock).
( 2 )In reporting the number of performance rights at the time of the award, Mr. Baker assumed a target payout (i.e. $500,000 worth of common stock), with the common stock valued at the closing price on the day of the award ($1.84), and therefore reported an award of 271,739 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Baker's award value was $958,333, and he therefore received 520,833 shares in settlement of the award (with the shares valued at the $1.84 closing price on June 21, 2019).
( 3 )Consists of outstanding performance rights.
( 4 )See footnotes (1) and (2). Shares received upon settlement of performance rights awarded in June 2019.
( 5 )Consists of 2,815,610 shares held directly, 1,795,964 shares held in the Key Employee Deferred Compensation Plan, and 223,923 unvested restricted stock units.
( 6 )Shares withheld for tax liability on 520,833 performance rights that vested.
( 7 )Consists of 2,620,520 shares held directly, 1,795,964 shares held in the Key Employee Deferred Compensation Plan, and 223,923 unvested restricted stock units.
( 8 )Held as 3,701.816 units in Mr. Baker's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 40,392 shares.

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