Houlihan Lokey Inc SEC Filings

Irwin N. Gold, identified as Co-Chairman and a 10% owner of Houlihan Lokey, Inc., reported transactions dated 09/16/2025. The filing shows a sale of 6,811 Class A common shares in open market transactions at a weighted average price of $202.75 per share (sales ranged from $202.50 to $203.04). Following those sales the reporting person held 0 direct Class A shares. On the same date the reporting person acquired 6,811 Class B common shares; Class B shares are convertible one-for-one into Class A shares. The filing also discloses indirect beneficial ownership of 1,071,385 Class A shares through the HL Voting Trust, where the reporting person is a trustee with shared voting control.

Houlihan Lokey (HLI) Form 144 summary: An insider filed a notice to sell 6,811 common shares on or about 09/16/2025 through Morgan Stanley Smith Barney on the NYSE, with an aggregate market value reported at $1,380,898.92. The shares were acquired on 05/15/2025 as restricted stock that vested under a registered plan tied to services rendered.

The filing also reports a prior sale by the IRWIN N GOLD FAMILY TRUST of 5,000 shares on 06/30/2025 for gross proceeds of $914,028.50. The filer certifies they are not aware of undisclosed material adverse information about the issuer.

Christopher M. Crain, General Counsel of Houlihan Lokey, Inc. (HLI), reported insider transactions dated 09/02/2025. The Form 4 shows he acquired 500 shares of Class B common stock and simultaneously sold 500 shares of Class A common stock at $196.22 per share. After the transactions Crain directly beneficially owns 0 Class A shares; he retains indirect beneficial ownership of 53,438 Class A shares through the HL Voting Trust where he retains investment control and dispositive power. The sale was executed under a Rule 10b5-1 trading plan adopted on 11/18/2024.

Form 144 filed for Houlihan Lokey, Inc. (HLI) reporting a proposed sale of 500 common shares through Morgan Stanley Smith Barney LLC on the NYSE with an aggregate market value of $99,625.00. The shares were acquired from the issuer as RSA on 05/15/2024 and the filing lists an approximate sale date of 09/02/2025. The filer reports 54,369,453 shares outstanding for the class and indicates no securities sold in the past three months. Several metadata fields such as filer name/CIK and the specific account holder are not provided in the disclosed tables.

Houlihan Lokey's Amendment No. 29 to Schedule 13D reports that the HL Voting Trust (with trustees Scott Adelson, Scott Beiser and Irwin Gold) controls voting power over 16,212,105 Class B shares, representing 22.9% of the company on an as-converted basis. The filing discloses a net decrease of 565,622 Class B shares in the trust between September 20, 2024 and August 26, 2025, driven by conversions to Class A shares (some sold or donated), forfeitures, tax-withholdings, equity awards issued and vested, repurchases, and other issuance activity. Individual trustees retain dispositive power only over the Class B shares each directly owns (Adelson: 878,921; Beiser: 808,413; Gold: 1,078,196), including specified unvested amounts. No other material contracts or arrangements with the issuer are reported.

Paul Eric Siegert, Co-Chairman and officer of Houlihan Lokey, Inc. (HLI), reported transactions on 08/27/2025 involving Class A and Class B common stock. The filing shows a conversion activity that resulted in the acquisition of 40,000 Class A shares and a contemporaneous sale of 40,000 Class A shares at a weighted average price of $199.95 per share, leaving the reporting person with 0 direct Class A shares after the sale. The report also discloses beneficial indirect ownership of 384,657 Class A shares held through the HL Voting Trust, with the reporting person retaining investment and dispositive control over those trust shares. The form is signed by an attorney-in-fact on behalf of Siegert and includes conversion details that Class B converts one-for-one into Class A.

Houlihan Lokey (HLI) submitted a Form 144 notifying the proposed sale of 40,000 shares of common stock through Morgan Stanley Smith Barney LLC on the NYSE, with an aggregate market value of $7,997,848.00 and an approximate sale date of 08/27/2025. The shares were acquired as restricted stock vesting under a registered plan: 20,016 shares vested on 05/15/2023 and 19,984 shares vested on 05/15/2024, with payment described as services rendered. The filer reports no sales in the past three months and affirms no undisclosed material adverse information.

Houlihan Lokey (HLI) – Form 4 filed 08 Aug 2025

CEO & Director Scott J. Adelson reported an internal, zero-cost transfer of 57,200 Class B shares on 05 Aug 2025. The shares were moved from Adelson’s direct holding to a revocable family trust (Form 4 codes Z & G – exempt/non-open-market). Class B shares are convertible into Class A on a 1-for-1 basis and carry no expiration date. The shares remain subject to the HL Voting Trust, so voting control is unchanged.

Post-transaction beneficial ownership

• Direct: 57,200 Class B (derivative on 57,200 Class A)
• Indirect – Revocable trust: 57,200 Class B
• Indirect – HL Voting Trust: 878,921 Class B

No shares were sold or purchased in the open market and no consideration was received, indicating no immediate economic impact on Adelson’s exposure or on public float. The filing is largely administrative and does not signal a change in insider sentiment.