HECLA MINING CO/DE/ 8-K

What Happened
Hecla Mining Company (HL) filed an 8-K reporting that Michael L. Clary ceased serving as Senior Vice President and Chief Administrative Officer effective December 31, 2025. His employment will terminate on January 1, 2026, at which time he will transition to a consultant role. Mr. Clary entered into a separation agreement providing supplemental severance as part of the transition.

Key Details

• Mr. Clary ceased his SVP & Chief Administrative Officer duties effective December 31, 2025; employment ends January 1, 2026.
• Separation agreement provides two annual installment payments of $417,036.43 each (total $834,072.86) as supplemental severance.
• Payments are provided in exchange for a release and customary covenants, including non-disparagement and confidentiality.
• The termination is treated as a “Qualifying Termination Outside of the Change in Control Period” under Mr. Clary’s Change in Control and Severance Agreement dated June 5, 2025.

Why It Matters
This 8-K documents an executive departure and a defined severance cost to the company totaling $834,072.86, plus the continuation of Mr. Clary as a consultant. For investors, the filing clarifies management changes, the company’s contractual severance obligations, and minimal near-term disclosure of any replacement — all factual items to consider when assessing leadership continuity and potential near-term cash outflows.