Companies Hecla Mining
Hecla Mining (HL): executive pay, fiscal 2025
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CEO pay, last three years
- $226,420FY2024
- $5,453,167FY2025
CEO total pay was $5,453,167 in fiscal 2025, up from $226,420 in fiscal 2024.
FY2025: salary $850,000 · bonus $0 · stock awards $2,800,534 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Rob Krcmarov | $850,000 | $0 | $2,800,534 | $0 | $1,598,850 | $0 | $203,783 | $5,453,167 |
| President and CEO | ||||||||
| Michael Clary | 370,208 | 0 | 353,372 | 0 | 0 | 454,965 | 2,136,076 | 3,314,621 |
| Former Senior Vice President – Chief Administrative Officer | ||||||||
| Carlos Aguiar | 404,938 | 200,000 | 384,292 | 0 | 681,080 | 146,187 | 23,769 | 1,840,266 |
| Sr. Vice President – Chief Operating Officer | ||||||||
| Russell Lawlar | 404,938 | 0 | 384,292 | 0 | 941,230 | 41,404 | 23,769 | 1,795,633 |
| Sr. Vice President – Chief Financial Officer | ||||||||
| David Sienko | 370,208 | 0 | 353,372 | 0 | 831,774 | 118,019 | 23,769 | 1,697,142 |
| Sr. Vice President – General Counsel and Secretary | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Rob Krcmarov | $5,453,167 | $226,420 | — | ↑ +5,226,747 |
| Michael Clary | 3,314,621 | 1,926,479 | 2,462,356 | ↑ +1,388,142 |
| Carlos Aguiar | 1,840,266 | — | — | — |
| Russell Lawlar | 1,795,633 | 1,637,807 | 1,215,076 | ↑ +157,826 |
| David Sienko | 1,697,142 | 1,579,459 | 934,352 | ↑ +117,683 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
Hecla's compensation philosophy is to pay NEOs competitive levels of compensation that reflect their individual responsibilities and contributions while providing incentives to achieve business and financial objectives. The program emphasizes a pay-for-performance approach, targeting total direct compensation at the median of the peer group, with a significant portion of compensation being at-risk and linked to short- and long-term performance metrics to align executive interests with shareholder value.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Rob Krcmarov | RSU | 2025-01-15 | — | — | 158,657 | — | $858,334 |
| Michael Clary | RSU | 2025-06-23 | — | — | 60,137 | — | 349,997 |
| Rob Krcmarov | RSU | 2025-06-23 | — | — | 176,976 | — | 1,030,000 |
| Russell Lawlar | RSU | 2025-06-23 | — | — | 65,399 | — | 380,622 |
| Rob Krcmarov | RSU | 2025-01-15 | — | — | 166,359 | — | 900,002 |
| Carlos Aguiar | RSU | 2025-06-23 | — | — | 65,399 | — | 380,622 |
| David Sienko | RSU | 2025-06-23 | — | — | 60,137 | — | 349,997 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Rob Krcmarov | $2,788,336 | $0 | $0 | 0.0% |
| Michael Clary | 349,997 | 0 | 0 | 0.0% |
| Russell Lawlar | 380,622 | 0 | 0 | 0.0% |
| Carlos Aguiar | 380,622 | 0 | 0 | 0.0% |
| David Sienko | 349,997 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Michael Clary | RSU | 21,799 | — | $418,323 |
| Michael Clary | RSU | 45,527 | — | 873,663 |
| Carlos Aguiar | RSU | 48,138 | — | 923,768 |
| Michael Clary | RSU | 58,992 | — | 1,132,056 |
| David Sienko | PSU | 60,137 | — | 1,154,029 |
| Michael Clary | PSU | 60,137 | — | 1,154,029 |
| Michael Clary | RSU | 60,326 | — | 1,157,656 |
| Carlos Aguiar | PSU | 65,399 | — | 1,255,006 |
| Russell Lawlar | PSU | 65,399 | — | 1,255,006 |
| David Sienko | RSU | 65,571 | — | 1,258,307 |
| Michael Clary | RSU | 66,397 | — | 1,274,158 |
| Russell Lawlar | RSU | 71,180 | — | 1,365,944 |
| Carlos Aguiar | RSU | 108,150 | — | 2,075,399 |
| David Sienko | RSU | 115,634 | — | 2,219,016 |
| Michael Clary | RSU | 118,065 | — | 2,265,667 |
| Michael Clary | RSU | 127,652 | — | 2,449,641 |
| Russell Lawlar | RSU | 127,652 | — | 2,449,642 |
| Michael Clary | RSU | 177,908 | — | 3,414,053 |
| Rob Krcmarov | PSU | 217,354 | — | 4,171,023 |
| Michael Clary | RSU | 414,808 | — | 7,960,163 |
| Rob Krcmarov | RSU | 414,808 | — | 7,960,166 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Catherine J. BoggsIndependent · Audit · Non-Executive Stock Award Committee · Compensation · Governance and Social Responsibility · Health, Safety, Environmental & Technical | $180,000 | $147,815 | — | — | $0 | $327,815 |
| Stephen F. RalbovskyIndependent · Audit | 120,000 | 147,815 | — | — | 0 | 267,815 |
| Charles B. StanleyIndependent · Audit · Compensation (Chair) · Health, Safety, Environmental & Technical | 120,000 | 147,815 | — | — | 0 | 267,815 |
| Alice WongIndependent · Audit · Compensation · Governance and Social Responsibility (Chair) · Health, Safety, Environmental & Technical | 120,000 | 147,815 | — | — | 0 | 267,815 |
| Mark P. BoardIndependent · Compensation · Governance and Social Responsibility · Health, Safety, Environmental & Technical | 112,500 | 147,815 | — | — | 0 | 260,315 |
| Jill SatreIndependent · Audit · Governance and Social Responsibility | 105,000 | 147,815 | — | — | 0 | 252,815 |
| Dean R. GehringIndependent · Compensation · Health, Safety, Environmental & Technical · Partial-year service · Newly elected | 52,500 | 147,815 | — | — | 0 | 200,315 |
| George R. JohnsonIndependent · Departed during FY | 60,000 | 0 | — | — | 5,000 | 65,000 |
| Rob KrcmarovEmployee director · Non-Executive Stock Award Committee (Chair) · Partial-year service · Newly elected | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $105,000 |
|---|---|
| Annual equity retainer | $125,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 15,000 / 15,000 |
| Stock ownership guideline | $3 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $870,000 |
| Equity awards (grant-date value) | $1,034,705 |
| All other compensation | $5,000 |
| Total cost of the board | $1,909,705 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Hecla Mining as a peer
Companies that benchmark against HL
3 companies name HL as a compensation peer
The list of companies that name HL as a peer is temporarily unavailable — recheck shortly.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Peer reciprocity
The companies Hecla Mining names as compensation peers that name it back in their own disclosed peer groups.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Coeur Mining Inc. | 2025 | Mitchell Krebs | $850,000 | $4,223,336 | $0 | $1,413,125 | $6,646,601 |
| 2 | Hecla Mining | 2025 | Rob Krcmarov | 850,000 | 2,800,534 | 0 | 1,598,850 | 5,453,167 |
| 3 | Royal Gold, Inc. | 2025 | William Heissenbuttel | 918,000 | 2,759,437 | 0 | 1,400,000 | 5,230,084 |
| — | Alamos Gold Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Iamgold Corporation | — | — | — | — | — | — | not in coverage universe |
| — | First Majestic Silver Corp. | — | — | — | — | — | — | not in coverage universe |
| — | Fresnillo PLC | — | — | — | — | — | — | not in coverage universe |
| — | Pan American Silver Corporation | — | — | — | — | — | — | not in coverage universe |
| — | B2Gold Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Eldorado Gold Corporation | — | — | — | — | — | — | not in coverage universe |
| — | Fortuna Silver Mines Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Hochschild Mining plc | — | — | — | — | — | — | not in coverage universe |
| — | Centerra Gold Inc. | — | — | — | — | — | — | not in coverage universe |
| — | New Gold Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Torex Gold Resources Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Equinox Gold Corp. | — | — | — | — | — | — | not in coverage universe |
| — | SSR Mining Inc. | — | — | — | — | — | — | not in coverage universe |
| — | Oceana Gold Corp. | — | — | — | — | — | — | not in coverage universe |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Hecla Mining | not disclosed | not disclosed | not disclosed | not disclosed |
| Alamos Gold Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| B2Gold Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| Centerra Gold Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Coeur Mining Inc. | 133% | PSU 60 · Restricted Stock 40 | Yes — Three-Year Change in Relative Total Shareholder Return (rTSR) | Meridian |
| Eldorado Gold Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| Equinox Gold Corp. | not disclosed | not disclosed | not disclosed | not disclosed |
| First Majestic Silver Corp. | not disclosed | not disclosed | not disclosed | not disclosed |
| Fortuna Silver Mines Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Fresnillo PLC | not disclosed | not disclosed | not disclosed | not disclosed |
| Hochschild Mining plc | not disclosed | not disclosed | not disclosed | not disclosed |
| Iamgold Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| New Gold Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
| Oceana Gold Corp. | not disclosed | not disclosed | not disclosed | not disclosed |
| Pan American Silver Corporation | not disclosed | not disclosed | not disclosed | not disclosed |
| Royal Gold, Inc. | 138.6% | RSU 50 · PSU 50 | Yes — TSR Relative to Certain Enumerated Precious Metals Companies | WTW |
| SSR Mining Inc. | not disclosed | PSU 50 · RSU 50 | No | Pay Governance LLC |
| Torex Gold Resources Inc. | not disclosed | not disclosed | not disclosed | not disclosed |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-21 | 421,646,575 | 19,785,285 | 1,891,495 | 95.52% | Passed |
| 2025 | 2025-05-21 | 347,914,524 | 16,322,962 | 1,591,847 | 95.52% | Passed |
| 2024 | 2024-05-17 | 266,467,414 | 117,994,698 | 1,757,886 | 69.31% | Passed |
| 2023 | 2023-05-23 | 317,819,241 | 9,038,063 | 2,000,513 | 97.23% | Passed |
| 2022 | 2022-05-26 | 310,152,656 | 5,650,767 | 2,172,302 | 98.21% | Passed |
| 2021 | 2021-05-19 | 306,651,473 | 6,646,205 | 1,783,368 | 97.88% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-05-21 | 95.52%a |
| 2025 | 2025-05-21 | 95.52%b |
| 2024 | 2024-05-17 | 69.31%c |
a. Approved under the standard stated in the filing — “We are asking shareholders to approve the following resolution at the Annual Meeting: "RESOLVED, that the compensation paid to the Company's NEOs, as disclosed pursuant to Item 402 of Regulation S-K, described in the CD&A, Summary Compensation Table for 2025, and the related compensation tables and narrative in the Proxy Statement for the Company's 2026 Annual Shareholders' Meeting, is hereby APPROVED." 40 | Hecla Mining Company Table of Contents MANAGEMENT PROPOSALS Required Vote The advisory vote on NEO compensation in 2025 requires the affirmative vote of a majority of votes cast at the Annual Meeting (with abstentions and broker non-votes not counted as votes cast), whether in person or by proxy.”.
b. Approved under the standard stated in the filing — “Advisory Vote on Executive Compensation * -- Majority of votes cast | Abstentions: No”.
c. Approved under the standard stated in the filing — “Advisory Vote on Executive Compensation * -- Majority of votes cast | Abstentions: No”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 14 : 1 |
|---|---|
| CEO total compensation | $1,677,964 |
| Median employee compensation | $117,782 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (34 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Rob Krcmarov. DEF 14A, filed 2026-04-10. Section “Summary Compensation Table for 2025” · page 69. As printed: 5,453,167. View filing ↗
- Section 01, Michael Clary. DEF 14A, filed 2026-04-10. Section “Summary Compensation Table for 2025”. As printed: 3,314,621. View filing ↗
- Section 01, Carlos Aguiar. DEF 14A, filed 2026-04-10. Section “Summary Compensation Table for 2025”. As printed: 1,840,266. View filing ↗
- Section 01, Russell Lawlar. DEF 14A, filed 2026-04-10. Section “Summary Compensation Table for 2025”. As printed: 1,795,633. View filing ↗
- Section 01, David Sienko. DEF 14A, filed 2026-04-10. Section “Summary Compensation Table for 2025”. As printed: 1,697,142. View filing ↗
- Section 03, Rob Krcmarov RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Michael Clary RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Rob Krcmarov RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Russell Lawlar RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Rob Krcmarov RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Carlos Aguiar RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. View filing ↗
- Section 03, David Sienko RSU. DEF 14A, filed 2026-04-10. Section “Grants of Plan-Based Awards for 2025” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-10. Section “CEO Pay Ratio”. As printed: 14 : 1. View filing ↗
- Section 08, Catherine J. Boggs. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 327,815. View filing ↗
- Section 08, Stephen F. Ralbovsky. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 267,815. View filing ↗
- Section 08, Charles B. Stanley. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 267,815. View filing ↗
- Section 08, Alice Wong. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 267,815. View filing ↗
- Section 08, Mark P. Board. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 260,315. View filing ↗
- Section 08, Jill Satre. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 252,815. View filing ↗
- Section 08, Dean R. Gehring. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 200,315. View filing ↗
- Section 08, George R. Johnson. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 65,000. View filing ↗
- Section 08, Rob Krcmarov. DEF 14A, filed 2026-04-10. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-22. Item 5.07 · say-on-pay result. As reported: 95.52% (votes for as printed: 421,646,575). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-22. Item 5.07 · say-on-pay result. As reported: 95.52% (votes for as printed: 347,914,524). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-21. Item 5.07 · say-on-pay result. As reported: 69.31% (votes for as printed: 266,467,414). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 870,000 + equity 1,034,705 + all other 5,000 = 1,909,705, summed across the director compensation table rows.
- Coeur Mining Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Coeur Mining Inc.'s own proxy. As printed: 6,646,601. View filing ↗
- Hecla Mining (subject), Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Hecla Mining's own proxy. As printed: 5,453,167. View filing ↗
- Royal Gold, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in Royal Gold, Inc.'s own proxy. As printed: 5,230,084. View filing ↗
- Section 10a, Royal Gold, Inc. reciprocity. DEF 14A. Royal Gold, Inc. names Hecla Mining in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, SSR Mining Inc. reciprocity. DEF 14A. SSR Mining Inc. names Hecla Mining in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Coeur Mining Inc. reciprocity. DEF 14A. Coeur Mining Inc. names Hecla Mining in its own disclosed peer group (read from its most recent proxy). View filing ↗