Hecla Mining Names New CEO, Elects Directors
Ticker: HL-PB · Form: 8-K · Filed: Nov 4, 2024 · CIK: 719413
| Field | Detail |
|---|---|
| Company | Hecla Mining CO/De/ (HL-PB) |
| Form Type | 8-K |
| Filed Date | Nov 4, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.25, $850,000, $1,030,000, $1,265,000, $900,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-election, executive-compensation
TL;DR
Hecla Mining just named a new CEO and added two directors to the board.
AI Summary
Hecla Mining Company announced on November 4, 2024, a series of executive changes. These include the appointment of Phillips S. Baker, Jr. as President and Chief Executive Officer, and the election of Catherine J. Birrell and Robert E. Mellor to the Board of Directors. The company also disclosed compensatory arrangements for certain officers.
Why It Matters
This filing signals a leadership transition and potential strategic shifts within Hecla Mining, which could impact its operational direction and financial performance.
Risk Assessment
Risk Level: medium — Leadership changes and board elections can introduce uncertainty and signal strategic shifts, potentially affecting the company's future performance.
Key Players & Entities
- Hecla Mining Company (company) — Registrant
- Phillips S. Baker, Jr. (person) — Appointed President and Chief Executive Officer
- Catherine J. Birrell (person) — Elected to the Board of Directors
- Robert E. Mellor (person) — Elected to the Board of Directors
- November 4, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new President and CEO of Hecla Mining Company?
Phillips S. Baker, Jr. has been appointed as the new President and Chief Executive Officer.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on November 4, 2024.
Who were elected to Hecla Mining's Board of Directors?
Catherine J. Birrell and Robert E. Mellor were elected to the Board of Directors.
What is Hecla Mining Company's state of incorporation?
Hecla Mining Company is incorporated in Delaware.
What other items are disclosed in this 8-K filing besides executive changes?
This filing also includes information on Regulation FD Disclosure, Other Events, and Financial Statements and Exhibits.
Filing Stats: 1,399 words · 6 min read · ~5 pages · Grade level 10 · Accepted 2024-11-04 16:24:18
Key Financial Figures
- $0.25 — ich registered Common Stock, par value $0.25 per share HL New York Stock Exchang
- $850,000 — will receive an initial base salary of $850,000 and is eligible to participate in the C
- $1,030,000 — ormance. Mr. Krcmarov will also receive $1,030,000 in the Company's common stock in the fo
- $1,265,000 — 26, and one-third on June 21, 2027, and $1,265,000 in performance-based units, based on th
- $900,000 — v will also receive a one-time grant of $900,000 in restricted stock units with a 3-year
- $100,000 — ation payment to Mr. Krcmarov for up to $100,000 payable 60 days after the date of the O
Filing Documents
- hl20241104_8k.htm (8-K) — 39KB
- ex_742549.htm (EX-10.1) — 38KB
- ex_742452.htm (EX-10.3) — 48KB
- ex_742453.htm (EX-99.1) — 11KB
- hecla01.jpg (GRAPHIC) — 8KB
- hecla02.jpg (GRAPHIC) — 6KB
- 0001437749-24-033143.txt ( ) — 327KB
- hl-20241104.xsd (EX-101.SCH) — 4KB
- hl-20241104_def.xml (EX-101.DEF) — 13KB
- hl-20241104_lab.xml (EX-101.LAB) — 17KB
- hl-20241104_pre.xml (EX-101.PRE) — 13KB
- hl20241104_8k_htm.xml (XML) — 5KB
01
Item 7.01 Regulation FD Disclosure A copy of the Company's press release relating to the announcement described in Item 5.02, dated November 4, 2024, is furnished as Exhibit 99.1 to this Form 8-K.
01 Other Events
Item 8.01 Other Events On November 4, 2024, the Company announced the promotion of Carlos Aguiar, the Company's Vice President – Operations to Senior Vice President & Chief Operating Officer. 3
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Offer Letter dated November 2, 2024.* 10.2 Form of Indemnification Agreement dated November 7, 2024, between Registrant and Mr. Robert Krcmarov. Identical Indemnification Agreements were entered into between the Registrant and Charles B. Stanley on May 4, 2007, David C. Sienko on January 29, 2010, Robert D. Brown on January 4, 2016, Stephen F. Ralbovsky and George R. Johnson on March 1, 2016, Catherine J. Boggs on January 1, 2017, Alice Wong on February 26, 2021, Michael L. Clary on March 1, 2020, Russell D. Lawlar on March 1, 2021, Kurt Allen on July 1, 2021, and Carlos Aguiar on August 16, 2023. Filed as Exhibit 10.7 to Registrant's Form 10-Q for the quarter ended September 30, 2006, and incorporated herein by reference. (1) 10.3 Change in Control and Severance Agreement dated November 7, 2024, between Registrant and Mr. Robert Krcmarov.* (1) 99.1 News Release, dated November 4, 2024.* 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). * Furnished herewith (1) Indicates a management contract or compensatory plan or arrangement. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HECLA MINING COMPANY By: /s/ David C. Sienko David C. Sienko Sr. Vice President and General Counsel Dated: November 4, 2024 4