[Form 4] Hecla Mining Company Insider Trading Activity

Rhea-AI Filing Summary

Hecla Mining (NYSE:HL) filed a Form 4 detailing insider activity by Sr. VP & CAO Michael L. Clary on June 23 2025.

• 28,767 shares of common stock were withheld at $5.82 (≈ $167k) to cover taxes on prior RSU vesting, a disposal equal to ~6.7 % of his ownership.
• 60,137 new restricted stock units granted, vesting in three equal annual tranches beginning 6/21/2026.
• 60,137 performance rights granted; payout ranges from $350k (target) to $700k (max) based on 2025-2027 TSR vs peers; convertible to stock on 1/1/2028.
• Post-transaction beneficial ownership totals 431,672 shares (159,746 directly held, 153,861 performance units, 118,065 unvested RSUs) plus 16,271 indirect shares via 401(k).

No open-market sale occurred; awards increase potential dilution but align compensation with performance.

Positive

• Performance-based equity grants (60,137 rights) strengthen executive-shareholder alignment
• Insider increases potential stake by 13.9 %, signalling commitment

Negative

• Potential dilution of up to 120,274 shares if all awards vest and settle

Insights

Insider Transactions Analyst

TL;DR: 120k new equity awards boost CAO alignment; tax-driven 28.8k share disposal modest.

The combined grant of 60,137 RSUs and 60,137 performance rights represents a 13.9 % addition to Clary’s total stake, signalling retention and incentive alignment. The performance rights hinge on relative TSR, tying payout to shareholder returns, which investors typically view favorably. The 28,767 shares withheld for taxes are an administrative disposal, not an open-market sell signal. Aggregate dollar impact (max ≈ $700k) is below materiality for Hecla’s float, but the >5 % change in insider ownership makes the filing noteworthy for governance tracking. Dilution risk is immaterial at the corporate level yet relevant when modeling fully-diluted EPS.

Corporate Governance Specialist

TL;DR: Performance-based equity elevates pay-for-performance; dilution minimal.

The award structure continues Hecla’s trend toward variable, TSR-linked compensation. Three-year vesting for RSUs and cliff settlement of performance rights incentivise long-term value creation and share-price discipline. Withholding shares to satisfy tax obligations avoids insider cash sales, limiting negative optics. From a governance lens, disclosure is transparent; metrics and caps are clearly articulated. Investors should monitor peer-relative TSR outcomes to gauge eventual share issuance and executive payout.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

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)
06/23/2025

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	06/23/2025		F		28,767(1)	D	$5.82	431,672(2)	D
Common Stock	06/23/2025		A		60,137(3)	A	$5.82	431,672(4)	D
Common Stock	06/23/2025		J		16,271(5)	A	$0	16,271	I	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	06/23/2025		A		60,137(6)		01/01/2028	01/01/2028	Common Stock	60,137	$0	431,672(7)	D

Explanation of Responses:

1. Mr. Clary was awarded (i) 40,632 restricted stock units on June 21, 2022; 40,990 restricted stock units on June 21, 2023; and 66,397 restricted stock units on June 21, 2024. One-third of those restricted stock units vested on June 23, 2025. To cover his tax liability on those vested units, Hecla Mining Company withheld 28,767 shares.

2. Consists of 159,746 shares held directly, 153,861 performance-based units, and 118,065 unvested restricted stock units.

3. Award of restricted stock units that vest as follows: 20,046 shares on June 21, 2026; 20,046 shares on June 21, 2027; and 20,045 shares on June 21, 2028.

4. See footnote 2.

5. Held as 1,359.025 units in Mr. Clary's 401(k) account under the Hecla Mining Company Capital Accumulation Plan and estimated to be 16,271 shares.

6. Mr. Clary was awarded performance rights representing the contingent right to receive between $350,000 and $700,000 worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return performance over the 3-year period (January 1, 2025 to December 31, 2027) relative to our peers. Examples of the potential grant of shares to Mr. Clary under this plan are as follows: 100th percentile rank among peers = maximum award at 200% of target ($700,000 in stock);; 50th percentile rank among peers = target award at grant value ($350,000 in stock), and 0 percentile rank among peers = threshold award below 25% of target.

7. See footnote 2.

	Tami D. Whitman, Attorney-in-Fact for Michael L. Clary	06/25/2025
	** 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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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

How many HL shares were withheld for Michael L. Clary’s tax obligations on 06/23/2025?

Hecla withheld 28,767 shares at $5.82 each, valued at roughly $167,000.

What new restricted stock units did HL grant to its CAO in June 2025?

He received 60,137 RSUs that vest 20,046 shares in 2026, 20,046 in 2027 and 20,045 in 2028.

What is the maximum potential value of the performance rights granted to HL’s CAO?

If Hecla ranks at the 100th percentile vs peers, Clary could receive up to $700,000 in stock.

How many HL shares does Michael L. Clary own after the Form 4 transactions?

He beneficially owns 431,672 shares directly or through equity awards, plus 16,271 shares indirectly via his 401(k).

When will the performance rights granted on 06/23/2025 convert into HL shares?

Any shares earned will settle on January 1 2028, following the three-year TSR measurement period.