SEC FORM 4

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

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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^*

DOBBS GLENN

(Last)

(First)

(Middle)

905 W. RIVERSIDE AVE., SUITE 311

(Street)

SPOKANE

99201

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
MINES MANAGEMENT INC [ MGN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/13/2016

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/13/2016		D		2,063,481	D	⁽¹⁾	0	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to Buy)	$0.2	09/13/2016		D			4,762	⁽²⁾	02/19/2018	Common Stock	4,762	⁽¹²⁾⁽¹³⁾	0	D
Stock Options (Right to Buy)	$0.57	09/13/2016		D			40,000	⁽³⁾	12/31/2018	Common Stock	40,000	⁽¹²⁾⁽¹⁴⁾	0	D
Stock Options (Right to Buy)	$0.57	09/13/2016		D			60,000	⁽⁴⁾	06/01/2019	Common Stock	60,000	⁽¹²⁾⁽¹⁵⁾	0	D
Stock Options (Right to Buy)	$0.91	09/13/2016		D			50,000	⁽⁵⁾	11/30/2019	Common Stock	50,000	⁽¹²⁾⁽¹⁶⁾	0	D
Stock Options (Right to Buy)	$0.91	09/13/2016		D			50,000	⁽⁶⁾	04/15/2020	Common Stock	50,000	⁽¹²⁾⁽¹⁷⁾	0	D
Stock Options (Right to Buy)	$0.54	09/13/2016		D			116,667	⁽⁷⁾	04/01/2020	Common Stock	116,667	⁽¹²⁾⁽¹⁸⁾	0	D
Stock Options (Right to Buy)	$0.54	09/13/2016		D			116,668	⁽⁸⁾	02/12/2021	Common Stock	116,668	⁽¹²⁾⁽¹⁹⁾	0	D
Stock Options (Right to Buy)	$0.54	09/13/2016		D			33,332	⁽⁹⁾	04/01/2020	Common Stock	33,332	⁽¹²⁾⁽²⁰⁾	0	D
Stock Options (Right to Buy)	$0.54	09/13/2016		D			33,333	⁽¹⁰⁾	02/12/2021	Common Stock	33,333	⁽¹²⁾⁽²¹⁾	0	D
Stock Options (Right to Buy)	$0.28	09/13/2016		D			67,859	⁽¹¹⁾	02/12/2021	Common Stock	67,859	⁽¹²⁾⁽²²⁾	0	D

Explanation of Responses:

1. Common stock disposed of pursuant to the Agreement and Plan of Merger, dated as of May 23, 2016, as amended on June 29, 2016 and July 29, 2016, among Mines Management, Inc. ("Mines Management"), Hecla Mining Company ("Hecla"), and HL Idaho Corp. ("Merger Sub"), whereby Merger Sub was merged with and into Mines Management (the "Merger") and each share of common stock of Mines Management was converted into 0.2218 (the "Exchange Rate") of a share of Hecla common stock, resulting in the receipt of 457,680 shares of Hecla common stock plus cash paid in lieu of fractional shares. The closing price of Hecla common stock on September 13, 2016, the effective date of the Merger, was $5.40.

2. The option was granted on 02/19/2013 and vested 100% on 02/19/2013.

3. The option was granted on 07/19/2013 and vested 100% on 12/31/2013.

4. The option was granted on 07/19/2013 and vested 100% on 06/01/2014.

5. The option was granted on 6/11/2014 and vested 100% on 11/30/2014.

6. The option was granted on 6/11/2014 and vested 100% on 04/15/2015.

7. The option was granted on 12/12/2014 and vested 100% on 04/01/2015.

8. The option was granted on 12/12/2014 and vested 100% on 02/12/2016.

9. The option was granted on 12/12/2014 and vested 100% on 04/01/2015.

10. The option was granted on 12/12/2014 and vested 100% on 02/12/2016.

11. The option was granted on 10/27/2015 and vested 100% on 02/12/2016.

12. The option was cancelled in connection with the Merger in consideration for shares of Hecla common stock (with cash being paid in lieu of fractional shares) representing the value equal to the difference between (x) the product of the Exchange Rate and the closing price of Hecla common stock on the date prior to the effective date of the Merger and (y) the option exercise price. The closing price of Hecla common stock on September 13, 2016, the effective date of the Merger, was $5.40.

13. The Hecla common stock issued had a value of $5,163.07.

14. The Hecla common stock issued had a value of $28,568.88.

15. The Hecla common stock issued had a value of $42,853.32.

16. The Hecla common stock issued had a value of $18,711.10.

17. The Hecla common stock issued had a value of $18,711.10.

18. The Hecla common stock issued had a value of $82,826.15.

19. The Hecla common stock issued had a value of $82,826.89.

20. The Hecla common stock issued had a value of $24,806.41.

21. The Hecla common stock issued had a value of $24,807.15.

22. The Hecla common stock issued had a value of $68,145.50.

	/s/ Glenn Dobbs	09/13/2016
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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