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^*

CLAYTON RONALD W

(Last)

(First)

(Middle)

6500 N. MINERAL DRIVE, SUITE 200

(Street)

COEUR D'ALENE

83815-9408

(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)
	VP - North American Operations

3. Date of Earliest Transaction (Month/Day/Year)
11/13/2003

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	11/13/2003		S		4,028	D	$6.7296	0	D
Common Stock	11/13/2003		M		85,000	A	$3.48	85,000	D
Common Stock	11/13/2003		M		40,000	A	$5.185	125,000	D
Common Stock	11/13/2003		M		30,000	A	$4.075	155,000	D
Common Stock	11/13/2003		M		4,104	A	$3.582	159,104	D
Common Stock	11/13/2003		M		4,855	A	$3.645	163,959	D
Common Stock	11/13/2003		M		2,644	A	$3.717	166,603	D
Common Stock	11/13/2003		S		166,603	D	$6.5843	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	$3.48	11/13/2003		M			85,000	08/05/2003⁽¹⁾	05/09/2005	Common Stock	85,000	$0	121,603	D
Stock Options	$5.185	11/13/2003		M			40,000	01/09/2003	01/31/2005	Common Stock	40,000	$0	81,603	D
Stock Options	$4.075	11/13/2003		M			30,000	05/08/2003	05/08/2008	Common Stock	30,000	$0	51,603	D
Stock Options	$3.582	11/13/2003		M			4,104	05/15/2003⁽²⁾	11/15/2009	Common Stock	4,104	$0	47,499	D
Stock Options	$3.645	11/13/2003		M			4,855	08/21/2003⁽³⁾	02/21/2010	Common Stock	4,855	$0	42,644	D
Stock Options	$3.717	11/13/2003		M			2,644	11/12/2003⁽⁴⁾	05/12/2010	Common Stock	2,644	$0	40,000	D
Stock Options⁽⁵⁾	$6.219	11/14/2003		A		7,681		05/14/2004	11/14/2010	Common Stock	7,681	$0.691	47,681	D

Explanation of Responses:

1. 56,100 options vested on October 1, 2002 and the remaining 28,900 options vested on August 5, 2003

2. Discounted stock options purchased through the Key Employee Deferred Compensation Plan

3. Discounted stock optons purchased through the Key Employee Deferred Compensation Plan

4. Discounted stock options purchased through the Key Employee Deferred Compensation Plan

5. Stock option units acquired under the Key Employee Deferred Compensation Plan pursuant to the election made to convert cash amount in investment account under the Key Employee Deferred Compensation Plan into discounted stock options

Remarks:

	Ronald W. Clayton	11/17/2003
	** 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).
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