Director Cyrus D. Walker receives 996-share stock grant at Houlihan Lokey (NYSE: HLI)

Rhea-AI Filing Summary

Houlihan Lokey director Cyrus D. Walker received an equity grant of 996 shares of Class A common stock. The award was recorded at a price of $0.00 per share, indicating a grant or similar acquisition rather than an open-market purchase. Following this award, Walker directly owns 7,111 shares of Houlihan Lokey’s Class A common stock, giving a clearer view of his current equity stake in the company.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Walker Cyrus D.

Role null

Type	Security	Shares	Price	Value
Grant/Award	CLASS A COMMON STOCK	996	$0.00	--

Holdings After Transaction: CLASS A COMMON STOCK — 7,111 shares (Direct, null)

Footnotes (1)

Key Figures

Shares granted: 996 shares Grant price: $0.00 per share Shares owned after: 7,111 shares

3 metrics

Shares granted 996 shares Grant, award, or other acquisition on 2026-05-21

Grant price $0.00 per share Equity award, not open-market purchase

Shares owned after 7,111 shares Direct holdings following the reported transaction

Key Terms

Grant, award, or other acquisition, CLASS A COMMON STOCK, Form 4

3 terms

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

CLASS A COMMON STOCK financial

"security_title: CLASS A COMMON STOCK"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Walker Cyrus D.

(Last) (First) (Middle)

C/O HOULIHAN LOKEY, INC.

10250 CONSTELLATION BLVD., 5TH FLOOR

(Street)

LOS ANGELES CALIFORNIA 90067

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HOULIHAN LOKEY, INC. [ HLI ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
			Code	V	Amount	(A) or (D)	Price
CLASS A COMMON STOCK	05/21/2026		A		996	A	$0	7,111	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	J. Lindsey Alley, Attorney-in-Fact for Cyrus D. Walker	05/21/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Cyrus D. Walker report for HLI?

Cyrus D. Walker reported receiving 996 shares of Houlihan Lokey Class A common stock. The transaction was coded as a grant or award acquisition at $0.00 per share, indicating compensation-related equity rather than an open-market purchase.

Was the Houlihan Lokey (HLI) insider transaction a buy or a grant?

The transaction was a grant or award, not an open-market buy. It is coded as a “Grant, award, or other acquisition” with a transaction price of $0.00 per share, reflecting compensation rather than a cash purchase of stock.

How many Houlihan Lokey (HLI) shares does Cyrus D. Walker hold after this Form 4?

After receiving the 996-share grant, Cyrus D. Walker directly holds 7,111 shares of Houlihan Lokey Class A common stock. This figure represents his reported direct ownership position immediately following the transaction disclosed in the Form 4.

Does the HLI Form 4 show any stock sales by Cyrus D. Walker?

The Form 4 does not show any stock sales by Cyrus D. Walker. It reports only one transaction: an acquisition of 996 shares through a grant or award, with no dispose or sell transactions listed in the summary data.

Were any derivative securities involved in the latest HLI insider filing?

No derivative securities are reported in this insider filing. The transaction involves non-derivative Class A common stock only, and the derivative summary section is empty, indicating no options, warrants, or similar instruments were exercised or acquired in this report.