Hecla Mining (HL) Form 4 HECLA MINING / David C Sienko 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^*

Sienko David C

(Last) (First) (Middle)

6500 N. 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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
VP - General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2024

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	02/26/2024		M		22,208(4)	A	$0	826,407(5)	D
Common Stock	02/26/2024		F		10,912(6)	D	$3.54	815,495(7)	D
Common Stock	02/26/2024		J		11,435(8)	A	$0	11,435	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 (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	02/26/2024		M		12,690(1)(2)		12/31/2023	12/31/2023	Common Stock	12,690	$0	49,840(3)	D

Explanation of Responses:

1. On June 21, 2021, Mr. Sienko was awarded performance rights. The performance rights represented a contingent right to receive between $50,000 and $200,000 worth of Hecla Mining Company common stock based on Hecla's total shareholder return performance over the 3-year period from January 1, 2021 through December 31, 2023, 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., $200,000 worth of common stock); (2) 60th percentile rank among peers = target award at grant value (i.e., $100,000 worth of common stock); or (3) 50th percentile rank among peers = threshold payout at 50% of target (i.e., $50,000 worth of common stock).

2. In reporting the number of performance rights at the time of the award, Mr. Sienko assumed a target payout (i.e., $100,000 worth of common stock), with the common stock valued at the closing price on the day of the award ($7.88), and therefore reported an award of 12,960 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Sienko's award value was 175%, and he therefore received 22,208 shares in settlement of the award (with the shares valued at the $7.88 closing price on June 21, 2021.

3. Consists of outstanding performance rights.

4. See footnotes (1) and (2). Shares received upon settlement of performance rights awarded in June 2021.

5. Consists of 759,130 shares held directly, and 67,277 unvested restricted stock units.

6. Shares withheld for tax liability on 22,208 performance rights that vested.

7. Consists of 748,218 shares held directly, and 67,277 unvested restricted stock units.

8. Consists of 951.786 units in Mr. Sienko's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 11,435 shares.

	Tami D. Whitman, Attorney-in-Fact for David C. Sienko	02/28/2024
	** 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).
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