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Form 4 HECLA MINING CO/DE/ For: Jun 21 Filed by: BAKER PHILLIPS S JR

June 23, 2021 5:39 PM EDT
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).
1. Name and Address of Reporting Person *
BAKER PHILLIPS S JR
(Last) (First) (Middle)
6500 NORTH 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)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President & CEO
3. Date of Earliest Transaction (Month/Day/Year)
06/21/2021
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 06/21/2021   F   68,274 (1) D $ 0 4,781,868 (2) D  
Common Stock 06/22/2021   J   44,309 (3) A $ 0 44,309 I By 401(k) Plan
Common Stock 06/21/2021   A   63,452 (4) A $ 7.88 4,781,868 (5) 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 06/21/2021   A   63,452 (6)   01/01/2023 01/01/2023 Common Stock 63,452 $ 0 4,781,868 (7) D  
Explanation of Responses:
1. Mr. Baker was awarded (i) 130,548 restricted stock units on 6/19/18; (ii) 217,391 restricted stock units on 6/21/19; and (iii) 132,013 restricted stock units on 6/22/20. The restrictions lapsed on 1/3 of those vesting units (159,985 shares). Mr. Baker elected to have Hecla Mining Company withhold 68,274 shares to cover his tax liability.
2. Consists of 2,294,777 shares held directly, 1,795,964 shares held in the Hecla Mining Company Key Employee Deferred Compensation Plan, 223,923 unvested restricted stock units, and 467,204 performance-based shares.
3. Held as 3,690.868 units in Mr. Baker's 401(k) account under the Hecla Mining Company Capital Accumulation Plan, and estimated to be 44,309 shares.
4. Award of restricted stock units that vest as follows: 21,150 shares on June 21, 2022; 21,151 shares on June 1, 2023; and 21,151 shares on June 2, 2024.
5. See footnote 2
6. Mr. Baker was awarded performance rights representing the contingent right to receive between $250,000 and $1,000,000 worth of Hecla Mining Company common stock based on Hecla Mining Company's Total Shareholder Return performance over the 3-year period (January 1, 2021 to December 31, 2023) relative to our peers. Examples of the potential grant of shares to Mr. Baker under this plan are as follows: 100th percentile rank among peers = maximum award at 200% ($1,000,000 in stock); 60th percentile rank among peers = target award at grant value ($500,000 in stock); and 50th percentile rank among peers = threshold award at 50% target ($250,000 in stock).
7. See footnote 2
Tami D. Whitman, Attorney-in-Fact for Phillips S. Baker, Jr. 06/23/2021
** 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.

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