Houlihan Lokey co-chair sells 6,265 converted shares
Houlihan Lokey, Inc. director and co-chairman Scott L. Beiser converted and sold a small block of shares.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Houlihan Lokey, Inc. director and co-chairman Scott L. Beiser converted and sold a small block of shares. On May 21, 2026, he converted 6,265 shares of Class B common stock into Class A common stock and then sold the same 6,265 Class A shares in an open-market transaction at a weighted average price of $150.26 per share, within a range of $149.83 to $150.89 per share. Following these transactions, he reported no directly held Class A shares, while remaining a trustee of the HL Voting Trust with an indirect pecuniary interest in 787,651 shares of Class B common stock, which are convertible into Class A common stock on a one-for-one basis and have no expiration date.
Insider Trade Summary
Exercise and Sale: 6,265 shares ($941K approx. pre-tax spread)
Exercise and Sale
4 txns
Insider
BEISER SCOTT L
Role
CO-CHAIRMAN
Sold
6,265 shs ($941K)
Approx. gross sale proceeds
$941K
Approx. exercise cost
$0.00
Approx. pre-tax spread
$941K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | CLASS B COMMON STOCK | 6,265 | $0.00 | $0.00 |
| Conversion | CLASS A COMMON STOCK | 6,265 | $0.00 | $0.00 |
| Sale | CLASS A COMMON STOCK | 6,265 | $150.26 | $941K |
| holding | CLASS B COMMON STOCK | -- | -- | -- |
Holdings After Transaction:
CLASS B COMMON STOCK — 0 contracts (Direct);
CLASS A COMMON STOCK — 0 shares (Direct);
CLASS B COMMON STOCK — 787,651 contracts (Indirect, BY HL VOTING TRUST)
Footnotes (3)
- F1. Class B Common Stock is convertible into Class A Common Stock on a one-for-one basis at the option of the holder, upon any transfer, and automatically upon the Final Conversion Date (as defined in the Issuer's Registration Statement on Form S-1, as amended (No. 333-205610) concerning the Issuer's initial public offering). The Class B Common Stock has no expiration date.
- F2. Per share price reflects the weighted average price in a series of open market sales on May 21, 2026 at prices ranging from $149.83 per share to $150.89 per share. The reporting person undertakes to provide to Houlihan Lokey, Inc., and security holder of Houlihan Lokey, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range identified in this footnote.
- F3. The reporting person is a trustee of the HL Voting Trust (the "Voting Trust"). The trustees of the Voting Trust have shared voting control over the shares deposited into the Voting Trust. The reporting person has a pecuniary interest in and investment control over the shares reported herein.
Key Figures
Shares sold: 6,265 shares
Weighted average sale price: $150.26 per share
Sale price range: $149.83–$150.89 per share
+3 more
6 metrics
Shares sold
6,265 shares
Class A common stock sold on May 21, 2026
Weighted average sale price
$150.26 per share
Open-market sales on May 21, 2026
Sale price range
$149.83–$150.89 per share
Range of prices for 6,265 shares sold
Indirect Class B holdings
787,651 shares
Class B common stock held via HL Voting Trust
Conversion ratio
1:1
Class B common stock convertible into Class A common stock
Direct Class A holdings after
0 shares
Total Class A common stock held directly after transactions
Key Terms
Class B Common Stock, Class A Common Stock, derivative conversion, HL Voting Trust, +1 more
5 terms
Class B Common Stock financial
"Class B Common Stock is convertible into Class A Common Stock on a one-for-one basis"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A Common Stock financial
"Conversion of Class B Common Stock into Class A Common Stock on a one-for-one basis"
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.
derivative conversion financial
"transaction_action": "derivative conversion""
HL Voting Trust financial
"The reporting person is a trustee of the HL Voting Trust"
pecuniary interest financial
"The reporting person has a pecuniary interest in and investment control over the shares"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Scott L. Beiser report at Houlihan Lokey (HLI)?
Scott L. Beiser reported converting and then selling shares. He converted 6,265 Class B shares into Class A, then sold 6,265 Class A shares in an open-market transaction on May 21, 2026 at a weighted average price of $150.26 per share.
What are Scott L. Beiser’s remaining holdings in Houlihan Lokey (HLI) after this Form 4?
After these transactions, Scott L. Beiser reported no directly held Class A shares. He remains a trustee of the HL Voting Trust, with a pecuniary interest in 787,651 shares of Class B common stock held indirectly through the Voting Trust.
How is Houlihan Lokey (HLI) Class B common stock treated in this Form 4?
Class B common stock is described as convertible into Class A common stock on a one-for-one basis. Conversion can occur at the holder’s option, upon any transfer, and automatically on the defined Final Conversion Date. The Class B shares are stated to have no expiration date.
What is the HL Voting Trust mentioned in Scott L. Beiser’s Houlihan Lokey (HLI) filing?
The HL Voting Trust is an entity holding Houlihan Lokey shares, with trustees sharing voting control over deposited shares. Scott L. Beiser is a trustee, and the filing notes he has a pecuniary interest in and investment control over the shares reported as held through this Voting Trust.
AI-generated analysis. How Rhea-AI works. Not financial advice.
