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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1. Name and Address of Reporting Person*
Clary Michael L.
(Last) (First) (Middle)
6500 N. MINERAL DR., 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)
Sr. VP & CAO
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 24,428(4) A $0 166,050(5) D
Common Stock 02/26/2024 F 8,660(6) D $3.54 157,390(7) D
Common Stock 02/26/2024 J 8,097(8) A $0 8,097 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 13,959(1)(2) 12/31/2023 12/31/2023 Common Stock 13,959 $0 54,415(3) D
Explanation of Responses:
1. On June 21, 2021, Mr. Clary was awarded performance rights. The performance rights represented a contingent right to receive between $55,000 and $220,000 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., $220,000 worth of common stock); (2) 60th percentile rank among peers = target award at grant value (i.e., $110,000 worth of common stock); or (3) 50th percentile rank among peers = threshold payout at 50% of target (i.e., $55,000 worth of common stock).
2. In reporting the number of performance rights at the time of the award, Mr. Clary assumed a target payout (i.e., $110,000 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 13,959 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Clary's award value was 175%, and he therefore received 24,428 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 90,781 shares held directly, and 75,269 unvested restricted stock units.
6. Shares withheld for tax liability on 24,428 performance rights that vested.
7. Consists of 82,121 shares held directly, and 75,269 unvested restricted stock units.
8. Consists of 673.972 units in Mr. Clary's 401(k) account under Hecla Mining Company's Capital Accumulation Plan, and estimated to be 8,097 shares.
Tami D. Whitman, Attorney-in-Fact for Michael L. Clary 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).
** 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.
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