Houlihan Lokey, Inc. filings document the regulatory record of a NYSE-listed global investment bank with Class A common stock registered under the ticker HLI. Recent Form 8-K disclosures report quarterly and fiscal-year operating results, including segment information for Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.
The company’s filings also cover material agreements, capital-structure matters, and governance events. Disclosures include amendments to a voting trust agreement connected to common-stock voting arrangements, board composition changes, director election matters, advisory executive-compensation votes, auditor ratification, and other shareholder voting records.
Houlihan Lokey, Inc. identifies Prabha S. Bhandari as a reporting person and names her Chief Legal Officer & Secretary.
Houlihan Lokey, Inc. (HLI) reported outcomes from its September 16, 2026 annual meeting, including stockholder approval of the Second Amended and Restated 2016 Incentive Award Plan, which was previously adopted by the board and became effective as of that meeting. The plan governs equity and incentive compensation for eligible participants.
The board elected Thomas Reichert as an independent Class I director, effective October 1, 2026, with a term running to the 2028 annual meeting. He will join the Audit and Nominating and Corporate Governance Committees and received a $120,000 restricted stock award under the new plan, vesting over three years, with accelerated vesting upon death or disability.
The company announced a leadership transition in its top legal role: Christopher M. Crain retired as General Counsel and became Corporate Senior Advisor, while the board appointed Prabha Sipi Bhandari as Chief Legal Officer and Secretary, an executive officer role. Stockholders also re-elected three Class II directors and approved say-on-pay and auditor ratification, each by substantial majorities.
HOULIHAN LOKEY, INC. (HLI) reported that its General Counsel, Christopher M. Crain, converted 1,000 shares of Class B Common Stock into 1,000 shares of Class A Common Stock on September 10, 2026 and sold the 1,000 Class A shares at $140.15 per share. After these transactions, Crain continues to have indirect ownership of 51,328 shares of Class B Common Stock (convertible one-for-one into Class A) held through the HL Voting Trust, over which he retains investment control and dispositive power. No Rule 10b5-1 trading plan is reported.
HOULIHAN LOKEY, INC. (HLI) is the issuer of common stock for which officer Christopher Madison Crain has filed a notice to sell 1,000 shares under Rule 144. The shares have an indicated aggregate market value of $140,145 and are listed on the NYSE.
The shares to be sold were acquired on August 13, 2015 through restricted stock vesting under a registered plan in consideration for services rendered.
Houlihan Lokey, Inc. (HLI) announced a planned change to its board of directors. On September 3, 2026, director Gillian B. Zucker informed the board that she does not intend to stand for reelection when her term expires at the company’s 2026 Annual Meeting of Stockholders. The company states that Ms. Zucker’s decision is not the result of any disagreement with Houlihan Lokey regarding its operations, policies, or practices.
Houlihan Lokey, Inc. filed a prospectus supplement covering the potential resale from time to time of up to 255,422 shares of Class A common stock issuable upon conversion of an equal number of Class B shares held by former Waller Helms Advisors LLC members, and up to 109,656 shares of Class A common stock issuable upon conversion of Class B shares held by former members of 7 Mile Advisors, LLC. These shares arise from consideration and related instruments issued in the December 2024 Waller Helms acquisition and the December 2023 7MA acquisition, including performance-based issuances and convertible note conversions. All securities were previously registered for resale under an earlier Form S-3 that has been replaced by a new Form S-3 filed on August 10, 2026.
Houlihan Lokey, Inc. is registering 365,078 shares of Class A common stock for potential resale by existing stockholders. The company will not receive proceeds from these sales, though it will bear certain registration expenses. The shares are issuable on a one‑for‑one basis upon conversion of Class B common stock, primarily held by former owners of Waller Helms Advisors and 7 Mile Advisors acquired in 2024 and 2023, respectively. Under related registration rights agreements, Houlihan Lokey may later need to register additional Class A shares with values of up to $45.0 million and $12.3 million if post‑closing performance targets are met or certain convertible notes are converted. The firm has a dual‑class structure where Class B holds ten votes per share and represented about 74% of total voting power as of July 28, 2026, while Class A trades on the NYSE under the symbol HLI.
Houlihan Lokey, Inc. has filed an automatic shelf registration as a well-known seasoned issuer, allowing the company and certain selling securityholders to offer and sell shares of Class A common stock from time to time after effectiveness. The registration covers primary offerings by the company and resale offerings by existing holders, with specific amounts, prices, and terms to be set in future prospectus supplements for each takedown.
The company will receive proceeds only from its own sales of Class A shares, while it will not receive any proceeds from sales by selling securityholders. Houlihan Lokey has a dual-class structure: as of July 28, 2026, 54,197,538 shares of Class A and 15,688,962 shares of Class B common stock were outstanding. Each Class A share carries one vote, and each Class B share carries ten votes and is convertible into one Class A share, with automatic conversion in certain transfer and sunset scenarios tied to ownership thresholds and a defined Final Conversion Date.
The company is authorized to issue up to 2,000,000,000 shares of common stock (split evenly between Class A and Class B) and 5,000,000 shares of preferred stock, which the board may issue in series with customized rights that could affect voting and takeover dynamics. The prospectus also summarizes existing registration rights arrangements with HL Holders and with sellers from the Waller Helms and 7 Mile Advisors acquisitions, including potential future resales of additional Class A shares upon achievement of performance targets. The Class A stock is listed on the NYSE under the symbol HLI, and the last reported sale price on August 7, 2026 was $129.00 per share.
Houlihan Lokey’s Chief Financial Officer purchased 4,020 shares of Class A common stock in open‑market transactions on August 3, 2026. The filing reports a weighted average purchase price of $124.52 per share, with individual trades executed at prices ranging from $122.96 to $126.07 per share. Following this transaction, the officer directly owns 4,020 shares of the company’s Class A common stock. The transaction is marked as not made pursuant to a Rule 10b5‑1 trading plan, indicating a discretionary open‑market purchase.
Houlihan Lokey, Inc. reported revenues of $511 million and net income of $78 million for the three months ended June 30, 2026, decreases of (16)% and (20)%, respectively, from the prior-year period. Diluted earnings per common share were $1.15 versus $1.42 a year earlier. The compensation ratio was broadly stable at 64.3%, with compensation expenses moving in line with revenues.
Corporate Finance revenues declined to $303 million, a (24)% decrease driven by lower average fees on closed transactions. Financial Restructuring revenues were $119 million, down (8)% on fewer closed transactions, while Financial and Valuation Advisory revenues grew 13% to $89 million, increasing segment profit by 34%. Total segment profit was $154 million, offset by $76 million of corporate expenses and $8 million of net other income.
Cash, cash equivalents and investment securities totaled $797 million at June 30, 2026, and there were no borrowings outstanding under a $150 million revolving credit facility maturing in 2030. Operating activities used $336 million of cash, primarily due to bonus payments. The board declared a quarterly cash dividend of $0.70 per share of Class A and Class B common stock, and the company repurchased Class A common stock for an aggregate $50 million during the quarter.