[Form 4] Hecla Mining Company Insider Trading Activity

Rhea-AI Filing Summary

Hecla Mining (NYSE:HL) filed a Form 4 reporting VP-Corporate Development Robert D. Brown’s equity activity on 06/23/2025.

• Grant: 54,124 restricted stock units (RSUs) at an implied $5.82 (~$315k), vesting equally in 2026-2028, increasing his beneficial stake by ~9%.
• Performance rights: 54,124 contingent shares tied to three-year TSR; payout ranges from $315k (target) to $630k (200% of target) versus peers.
• Tax withholding: 24,234 shares (code “F”) surrendered to cover taxes on earlier RSU vesting—no open-market sale occurred.
• Post-trade ownership: 593,652 shares/units (347,214 direct shares, 139,653 performance units, 106,785 unvested RSUs).

No changes in title or board composition were disclosed.

Positive

• 9% increase in insider’s ownership through 54,124 RSUs and equal performance rights, enhancing management-shareholder alignment

Negative

• None.

Insights

Insider Trading Analyst

9% stake lift via RSUs & rights; no bearish sale signal.

The award increases Brown’s economic exposure by more than the 5% materiality threshold, suggesting confidence and aligning incentives with shareholders. The “F” code withholding is mechanical tax settlement, not a discretionary sale, so it carries limited negative implication for market sentiment. The performance-based component links upside to relative TSR, providing investors with assurance that payout only occurs if value is created. Overall, the filing is modestly constructive but not large enough to move Hecla’s float or indicate imminent corporate action.

Corporate Governance Specialist

Long-term, TSR-linked grant supports pay-for-performance structure.

The mix of time-vested RSUs (three-year cliff) and performance rights (three-year TSR metric) reflects best-practice governance: balanced retention and performance alignment. Maximum payout capped at 200% limits windfall risk, while withholding of shares for taxes avoids cash drain. Brown’s cumulative 593k share interest (including units) reinforces management’s ownership culture. No by-law or board changes accompany this grant, suggesting the compensation program continues under established policy.

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
Estimated average burden
hours per response:			0.5

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)
	VP - Corporate Development

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		24,234(1)	D	$5.82	593,652(2)	D
Common Stock	06/23/2025		A		54,124(3)	A	$5.82	593,652(4)	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	06/23/2025		A		54,124(5)		01/01/2028	01/01/2028	Common Stock	54,124	$0	593,652(6)	D

Explanation of Responses:

1. Mr. Brown was awarded (1) 38,374 restricted stock units on June 21, 2022; 37,030 restricted stock units on June 21, 2023; and 60,479 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 24,234 shares.

2. Consists of 347,214 shares held directly, 139,653 performance-based units, and 106,785 unvested restricted stock units.

3. Award of restricted stock units that vest as follows: 18,042 shares on June 21, 2026; 18,041 shares on June 21, 2027; and 18,041 shares on June 21, 2028.

4. See footnote 2.

5. Mr. Brown was awarded performance rights representing the contingent right to receive between $315,000 and $630,000 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. Brown under this plan are as follows: 100th percentile rank among peers = maximum award at 200% of target ($630,000 in stock); 50th percentile rank among peers = target award at grant value ($315,000 in stock), and 0 percentile rank among peers = threshold award below 25% of target.

6. See footnote 2.

	Tami D. Whitman, Attorney-in-Fact for Robert D. Brown	06/25/2025
	** 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.

FAQ

How many HL shares did VP Robert Brown acquire on 06/23/2025?

He received 54,124 RSUs plus 54,124 performance-based rights; no open-market purchase was reported.

What is the potential value of the performance rights granted to HL's VP?

Depending on 2025-2027 TSR, the rights are worth $315k at target up to $630k at maximum.

Did Robert Brown sell any HL shares in June 2025?

No discretionary sale; 24,234 shares were withheld by the company to pay taxes on vested RSUs.

What is Robert Brown’s total beneficial ownership in HL after the transaction?

He now holds 593,652 shares/units, including direct shares, performance units and unvested RSUs.

How does the new grant affect insider ownership percentage?

The RSU grant represents roughly 9% of Brown’s post-transaction holdings, crossing the 5% materiality threshold.