| FORM 4 | 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 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol HECLA MINING CO/DE/ [ HL ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
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| 3. Date of Earliest Transaction (Month/Day/Year) 06/21/2019 | ||||||||||||||||||||||||||
| 4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
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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) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 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 | 06/21/2019 | F | 29,758(1) | D | $0 | 868,753 | D | |||
| Common Stock | 06/21/2019 | A | 122,283(2) | A | $1.84 | 220,202(3) | D | |||
| Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 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 (Month/Day/Year) | 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: 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 | 06/21/2019 | A | 81,522(4) | 01/01/2022 | 01/01/2022 | Common Stock | 81,522(5) | $0 | 1,269,249(6) | D | ||||
| Explanation of Responses: |
| 1. Mr. Radford was awarded (i) 78,409 restricted stock units on June 7, 2016, (ii) 58,773 restricted stock units on June 7, 2017, and (iii) 117,493 restricted stock units on June 19, 2018. The restrictions lapsed on 1/3 of those vesting units (84,892 shares). Mr. Radford elected to have Hecla Mining Company withhold 29,758 shares to cover his tax liability. |
| 2. Award of restricted stock units that vest as follows: 40,761 shares on June 21, 2020; 40,761 shares on June 21, 2021; and 40,761 shares on June 21, 2022. |
| 3. Total number of unvested restricted stock units held by Mr. Radford. |
| 4. Mr. Radford 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, 2019 to December 31, 2021) relative to our peers. Examples of the potential grant of shares to Mr. Radford 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). |
| 5. 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 ($1.84). The actual number of shares received (if any) by Mr. Radford will depend on the Total Shareholder Return performance over the 3-year period and will be determined following the termination of that period. |
| 6. Total consists of 868,753 shares held directly, 220,202 unvested restricted stock units, and 180,294 performance-based shares. |
| Tami D. Whitman, Attorney-in-Fact for Lawrence P. Radford | 06/25/2019 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||
