February 26, 2024 · Form 4 insider transaction
Brown Robert Denis bought 13,325 shares of Hecla Mining Company at $0.00 per share, a transaction worth N/A. The trade was recorded as option exercise and disclosed on an SEC Form 4, filed 2 days after the transaction.
On June 21, 2021, 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, 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., $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% of target (i.e., $52,500 worth of common stock).; 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 ($7.88), and therefore reported an award of 13,325 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Brown's award value was 175%, and therefore he received 23,319 shares in settlement of the award (with the shares valued at the $7.88 closing price on June 21, 2021.; Consists of outstanding performance rights.