Hecla Mining (NYSE: HL) VP settles performance rights, withholds shares for taxes

Rhea-AI Filing Summary

Hecla Mining vice president of exploration Kurt Allen exercised 21,782 performance rights on common stock, converting them into 21,782 shares at no exercise price. To cover tax liabilities on this vesting, 5,541 shares of common stock were withheld at $24.63 per share.

After these transactions, Allen directly holds 68,460 common shares and 94,852 unvested restricted stock units, for a total of 163,312 common shares reported as owned. The performance rights were originally granted in June 2023 based on total shareholder return targets for the 2023–2025 period.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Allen Kurt

(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)
	Vice President - Exploration

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		M		21,782(4)	A	$0	168,853(5)	D
Common Stock	03/02/2026		F		5,541(6)	D	$24.63	163,312(7)	D

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	03/02/2026		M		21,782(1)(2)		12/31/2025	12/31/2025	Common Stock	21,782	$0	100,007(3)	D

Explanation of Responses:

1. In June 2023, Mr. Allen was awarded performance rights representing the contingent right to receive between $55,000 and $220,000 worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return over the 3-year period (January 1, 2023 to December 31, 2025), based on the following percentile rank within Hecla's peer group companies: 100th percentile rank among peers = maximum award at 200% of target ($220,000 in stock); 40th to 60th percentile rank among peers = target award at grant value ($110,000 in stock); and 25th percentile rank among peers = threshold award at 50% of target ($55,000 in stock).

2. In reporting the number of performance rights at the time of the award, Mr. Allen assumed a target (i.e., $110,000 in stock), with the common stock valued at the closing price on the day of the award ($5.05), and therefore reported an award of 21,782 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Allen's award value was 100% and he therefore received 21,782 shares in settlement of the award (with the shares valued at the $5.05 closing price on June 21, 2023).

3. Consists of outstanding performance rights.

4. See footnotes (1) and (2). Shares received upon settlement of performance rights awarded in June 2023.

5. Consists of 74,001 shares held directly, and 94,852 unvested restricted stock units.

6. Shares withheld for tax liability on 21,782 performance rights that vested.

7. Consists of 68,460 shares held directly, and 94,852 unvested restricted stock units.

	Tami D. Whitman, Attorney-in-Fact for Kurt Allen	03/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider activity did Hecla Mining (HL) report for Kurt Allen?

Hecla Mining reported that vice president of exploration Kurt Allen exercised 21,782 performance rights into common shares and had 5,541 shares withheld to satisfy tax obligations. These transactions reflect equity compensation vesting rather than open-market buying or selling activity.

How many Hecla Mining shares did Kurt Allen acquire through performance rights?

Kurt Allen received 21,782 shares of Hecla Mining common stock upon settlement of performance rights granted in June 2023. The award was tied to total shareholder return performance, with the final payout based on the company’s ranking within a defined peer group.

Why were 5,541 Hecla Mining shares disposed of in this Form 4 filing?

The 5,541 shares were withheld at $24.63 per share to cover tax liabilities associated with the vesting of 21,782 performance rights. This Form 4 characterizes the transaction as a tax-withholding disposition, not an open-market sale initiated for investment purposes.

What is Kurt Allen’s reported Hecla Mining share ownership after these transactions?

After the March 2, 2026 transactions, Kurt Allen is reported as owning 163,312 common shares in total. This consists of 68,460 shares held directly and 94,852 unvested restricted stock units, reflecting his ongoing equity-based compensation position with the company.

How were Kurt Allen’s performance rights at Hecla Mining originally structured?

The June 2023 performance rights granted to Kurt Allen were tied to total shareholder return from January 1, 2023 through December 31, 2025. Depending on peer group percentile rank, the award value ranged from $55,000 at threshold to $220,000 at maximum, measured in Hecla common stock.

What value assumptions were used for Kurt Allen’s Hecla Mining performance rights?

At grant, the target award assumed $110,000 in Hecla stock, using a $5.05 closing price to calculate 21,782 performance rights. Upon settlement, he received 21,782 shares based on a 100% award value, matching the original target level specified in the grant terms.