Hecla Mining (HL) Form 4 HECLA MINING / PHILLIPS S BAKER JR ownership change

SEC Form 4

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^*

BAKER PHILLIPS S JR

(Last) (First) (Middle)

6500 NORTH MINERAL DRIVE

SUITE 200

(Street)

COEUR D 'ALENE ID 83815

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/21/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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	06/21/2023		A		141,584(1)	A	$5.05	5,544,505(2)	D
Common Stock	06/21/2023		A		50,515(3)	A	$0	50,515	I	Held in 401(k) Plan Account

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 (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	06/21/2023		A		141,584(4)		01/01/2026	01/01/2026	Common Stock	141,584	$0	5,544,505(5)	D

Explanation of Responses:

1. Award of restricted stock units that vest as follows: 47,195 shares on June 21, 2024, 47,195 shares on June 21, 2025, and 47,194 shares on June 21, 2026.

2. Consists of 3,136,227 shares held directly, 1,795,964 shares deferred under the Hecla Mining Company Key Employee Deferred compensation Plan, 351,762 performance-based units, and 260,552 unvested restricted stock units.

3. Held as 4,209.622 units in Mr. Baker's 401(k) account under the Hecla Mining Company Capital Accumulation Plan, and estimated to be 50,515 shares.

4. Mr. Baker was awarded performance rights representing the contingent right to receive between $357,500 and $1,430,000 worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return performance over the 3-year period (January 1, 2023 to December 31, 2025) relative to our peers. Examples of the potential grant of shares to Mr. Baker under this plan are as follows: 100th percentile rank among peers = maximum award at 200% of target ($1,430,000 in stock); 40th to 60th percentile rank among peers = target award at grant value ($715,000 in stock); and 25th percentile rank among peers = threshold award at 50% of target ($357,500 in stock).

5. See footnote 2.

	Tami D. Whitman, Attorney-in-Fact for Phillips S. Baker, Jr.	06/23/2023
	** Signature of Reporting Person	Date
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