Brown Robert Denis 4
4 · HECLA MINING CO/DE/ · Filed Feb 28, 2023
Insider Transaction Report
Form 4
Brown Robert Denis
VP - Corp. Develop & Sustain.
Transactions
- Exercise/Conversion
Common Stock
2023-02-24+69,306→ 429,724 total - Tax Payment
Common Stock
2023-02-24$4.98/sh−37,079$184,653→ 392,645 total - Exercise/Conversion
Performance rights
2023-02-24+34,653→ 39,284 totalExercise: $0.00From: 2022-12-31Exp: 2022-12-31→ Common Stock (34,653 underlying)
Footnotes (7)
- [F1]On June 22, 2020, Mr. Brown was awarded performance rights. The performance rights represented a contingent right to receive between $52,500 and $210,000 worth of Hecla Mining Company common stock based on Hecla's total shareholder return performance over the 3-year period of January 1, 2020 through December 31, 2022, 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., $210,000 worth of common stock); (2) 60th percentile rank among peers = target award at grant value (i.e., $105,000 worth of common stock); or (3) 50th percentile rank among peers = threshold payout at 50% target (i.e., $52,500 worth of common stock).
- [F2]In reporting the number of performance rights at the time of the award, Mr. Brown assumed a target payout (i.e., $105,000 worth of common stock), with the common stock valued at the closing price on the day of the award ($3.03), and therefore reported an award of 34,653 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Brown's award value was $210,000, and therefore he received 69,306 shares in settlement of the award (with the shares valued at the $3.03 closing price on June 22, 2020).
- [F3]Consists of outstanding performance rights.
- [F4]See footnotes (1) and (2). Shares received upon settlement of performance rights awarded in June 2020.
- [F5]Consists of 360,213 shares held directly, and 69,511 unvested restricted stock units.
- [F6]Shares withheld for tax liability on 69,306 performance rights that vested.
- [F7]Consists of 323,134 shares held directly, and 69,511 unvested restricted stock units.