Hecla Mining (NYSE: HL) exec settles performance stock award with tax withholding

Rhea-AI Filing Summary

Hecla Mining Company vice president Robert Denis Brown reported equity compensation activity. On performance rights awarded in June 2023, he exercised derivative rights into 25,050 shares of common stock at a stated price of $0.00 per share, settling the award based on total shareholder return performance.

To cover tax liabilities on the 25,050 vested performance rights, 13,402 common shares were withheld at $24.63 per share. Following these transactions, Brown directly owned 465,647 shares of common stock, reflecting both the newly issued shares and the shares withheld for taxes.

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^*

Brown Robert Denis

(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 - Corp. Develop

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		25,050(4)	A	$0	479,049(5)	D
Common Stock	03/02/2026		F		13,402(6)	D	$24.63	465,647(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		25,050(1)(2)		12/31/2025	12/31/2025	Common Stock	25,050	$0	114,603(3)	D

Explanation of Responses:

1. On June 21, 2023, Mr. Brown was awarded performance rights representing the contingent right to receive between $63,250 and $253,000 worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return performance 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 ($253,000 in stock); 40th to 60th percentile rank among peers = target award at grant value ($126,500 in stock); and 25th percentile rank among peers = threshold award at 50% of target ($63,250 in stock).

2. In reporting the number of performance rights at the time of the award, Mr. Brown assumed a target (i.e.,$126,500 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 25,050 performance rights. Based on Hecla Mining Company's total shareholder return ranking, Mr. Brown's award value was 100% and he therefore received 25,050 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 372,264 shares held directly, and 106,785 unvested restricted stock units.

6. Shares withheld for tax liability on 25,050 performance rights that vested.

7. Consists of 358,862 shares held directly, and 106,785 unvested restricted stock units.

	Tami D. Whitman, Attorney-in-Fact for Robert D. Brown	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 did Hecla Mining (HL) executive Robert Denis Brown report on this Form 4?

Robert Denis Brown reported the settlement of a performance-based equity award into 25,050 Hecla Mining common shares and the withholding of 13,402 shares to cover related tax liabilities. These transactions reflect routine equity compensation activity rather than an open-market stock purchase or sale.

How many Hecla Mining (HL) shares did Robert Denis Brown acquire from performance rights?

Robert Denis Brown acquired 25,050 Hecla Mining common shares through the exercise and settlement of previously granted performance rights. The rights were originally awarded in June 2023 and converted into shares based on the company’s total shareholder return performance relative to its designated peer group.

Why were 13,402 Hecla Mining (HL) shares disposed of in Brown’s Form 4?

The 13,402 Hecla Mining shares shown as a disposition were withheld to satisfy tax liabilities arising from the vesting of 25,050 performance rights. This is characterized as a tax-withholding disposition rather than an open-market sale, and is a common mechanism for handling equity award taxes.

What is Robert Denis Brown’s Hecla Mining (HL) share ownership after these transactions?

After the reported transactions, Robert Denis Brown directly owned 465,647 shares of Hecla Mining common stock. This figure incorporates the 25,050 shares received upon settlement of performance rights and the 13,402 shares withheld to cover tax obligations associated with that equity award vesting.

How were Brown’s Hecla Mining (HL) performance rights originally structured and valued?

Brown’s performance rights were granted on June 21, 2023, with a target value of $126,500 in stock, based on a $5.05 share price and total shareholder return performance. He initially reported 25,050 performance rights, and the final award paid out at 100% of this target value.