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  4. [Form 4] Hecla Mining Company Insider Trading Activity

HL Insider Filing: 60k RSUs Granted, No Market Sales Reported

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Form 4 overview: On 06/23/2025, Hecla Mining Company (ticker: HL) filed a Form 4 detailing equity transactions by David C. Sienko, Senior Vice President, General Counsel & Secretary. Three separate non-derivative transactions and one derivative award were reported.

Non-derivative transactions (Table I):

  • Code F – Tax withholding: 13,768 common shares were automatically withheld at $5.82 to satisfy tax obligations on vested restricted stock units (RSUs). No open-market sale occurred; shares left the insider’s account solely for tax settlement.
  • Code A – RSU grant: 60,137 new RSUs were awarded at an accounting value of $5.82. These RSUs vest in three equal tranches: 20,046 shares on 06/21/2026, 20,046 on 06/21/2027, and 20,045 on 06/21/2028.
  • Code J – 401(k) plan: 15,258 estimated common shares (represented by 1,365.777 plan units) were credited to Mr. Sienko’s 401(k) under the company’s Capital Accumulation Plan at no cost.

Derivative transaction (Table II): Mr. Sienko also received 60,137 performance rights (Code A, zero exercise price). Payout will depend on Hecla’s total shareholder return (TSR) versus peers for 01/01/2025 – 12/31/2027. Possible outcomes range from $350,000 (target) to $700,000 (maximum) in stock, with settlement and expiry on 01/01/2028.

Post-transaction holdings: The officer now reports 1,115,621 shares and rights in total, comprising 845,306 directly held shares, 149,589 performance-based units, and 120,726 unvested RSUs. Ownership remains direct except for the 401(k) position, which is classified as indirect.

Key takeaways for investors: • The filing shows continued equity-based compensation and no discretionary open-market sales. • Share withholding is routine and non-directional. • Added performance rights tightly link compensation to relative TSR, aligning executive incentives with shareholder returns. The overall share amounts are modest relative to Hecla’s public float, so the filing is unlikely to be market-moving on its own.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Routine equity grants; no open-market selling—neutral impact.

The Form 4 discloses standard executive compensation events. Mr. Sienko gained 60,137 RSUs and an identical number of TSR-based performance rights, expanding his potential equity stake. The only disposition—13,768 shares—was a non-discretionary tax withholding, not a sell signal. Aggregate reported ownership is about 1.1 million shares/rights, immaterial versus Hecla’s outstanding shares, so dilution risk is negligible. Because transactions stem from preset incentive plans and involve no insider buying or selling in the open market, I view the filing as informational with neutral share-price implications.

Insider Sienko David C
Role Sr. VP, GC & Secretary
Type Security Shares Price Value
Grant/Award Performance rights 60,137 $0.00 --
Tax Withholding Common Stock 13,768 $5.82 $80K
Grant/Award Common Stock 60,137 $5.82 $350K
Other Common Stock 15,258 $0.00 --
Holdings After Transaction: Performance rights — 1,115,621 shares (Direct); Common Stock — 1,115,621 shares (Direct); Common Stock — 15,258 shares (Indirect, 401(k) Plan)
Footnotes (1)
  1. Mr. Sienko was awarded (i) 38,374 restricted stock units on June 21, 2022; 35,350 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 13,768 shares. Consists of 845,306 shares held directly, 149,589 performance-based units, and 120,726 unvested restricted stock units. 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. See footnote 2. Held as 1,365.777 units in Mr. Sienko's 401(k) account under the Hecla Mining Company Capital Accumulation Plan and estimated to be 15,258 shares. Mr. Sienko 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. Sienko 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. See footnote 2.
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Form 4 Insider Transactions: What Each Field Means →
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*
Sienko David C
(Last) (First) (Middle)
6500 N. MINERAL DRIVE, 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, GC & Secretary
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 13,768(1) D $5.82 1,115,621(2) D
Common Stock 06/23/2025 A 60,137(3) A $5.82 1,115,621(4) D
Common Stock 06/23/2025 J 15,258(5) A $0 15,258 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 1,115,621(7) D
Explanation of Responses:
1. Mr. Sienko was awarded (i) 38,374 restricted stock units on June 21, 2022; 35,350 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 13,768 shares.
2. Consists of 845,306 shares held directly, 149,589 performance-based units, and 120,726 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 1,365.777 units in Mr. Sienko's 401(k) account under the Hecla Mining Company Capital Accumulation Plan and estimated to be 15,258 shares.
6. Mr. Sienko 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. Sienko 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 David C. Sienko 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Hecla Mining (HL) report in the latest Form 4?

60,137 new RSUs, 60,137 performance rights, and withholding of 13,768 shares for taxes related to SVP David Sienko’s compensation.

Did the officer sell any Hecla Mining shares on the open market?

No. The only disposition (13,768 shares) was automatic share withholding to cover taxes; there were no open-market sales.

How many Hecla Mining shares does David C. Sienko now beneficially own?

After the transactions, he reports 1,115,621 shares and share-equivalent rights.

When will the newly awarded RSUs vest?

They vest in three tranches: 20,046 shares on 06/21/2026, 20,046 on 06/21/2027, and 20,045 on 06/21/2028.

What determines the value of the 60,137 performance rights?

Payout is based on Hecla’s Total Shareholder Return from 01/01/2025-12/31/2027 versus peers, ranging from $350k (target) to $700k (maximum) in stock.

Is this Form 4 likely to impact HL’s stock price?

Given the modest size and routine nature of the transactions, the filing is unlikely to be materially impactful to the share price.