Houlihan Lokey counsel sells 1,000 shares at $140
HOULIHAN LOKEY, INC.
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Form Type
4
Rhea-AI Filing Summary
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.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
3 txns
Insider
CRAIN CHRISTOPHER M
Role
GENERAL COUNSEL
Sold
1,000 shs ($140K)
Approx. gross sale proceeds
$140K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | CLASS B COMMON STOCK F1 | 1,000 | $0.00 | $0.00 |
| Conversion | CLASS A COMMON STOCK F1 | 1,000 | $0.00 | $0.00 |
| Sale | CLASS A COMMON STOCK | 1,000 | $140.15 | $140K |
| Holding | CLASS B COMMON STOCK F1, F2 | -- | -- | -- |
Holdings After Transaction:
CLASS B COMMON STOCK — 0 contracts (Direct);
CLASS A COMMON STOCK — 0 shares (Direct);
CLASS B COMMON STOCK — 51,328 contracts (Indirect, BY HL VOTING TRUST)
Footnotes (2)
- 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. The shares are held by the HL Voting Trust (the "Voting Trust"). The reporting person retains investment control and dispositive power over the shares deposited into the Voting Trust.
Key Figures
Class B shares converted: 1,000 shares
Class A shares acquired via conversion: 1,000 shares
Class A shares sold: 1,000 shares
+3 more
6 metrics
Class B shares converted
1,000 shares
Class B Common Stock converted into Class A on September 10, 2026
Class A shares acquired via conversion
1,000 shares
Class A Common Stock received from Class B conversion on September 10, 2026
Class A shares sold
1,000 shares
Sale of Class A Common Stock on September 10, 2026
Sale price per Class A share
$140.15 per share
Sale of 1,000 Class A shares on September 10, 2026
Indirect Class B holdings via HL Voting Trust
51,328 shares
Indirect Class B Common Stock position reported after the transactions
Underlying Class A shares from indirect Class B
51,328 shares
One-for-one conversion potential from Class B to Class A via HL Voting Trust
Key Terms
Class B Common Stock, Class A Common Stock, HL Voting Trust, Final Conversion Date, +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
"converted 1,000 shares of Class B Common Stock into 1,000 shares of 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.
HL Voting Trust financial
"The shares are held by the HL Voting Trust (the "Voting Trust")."
Final Conversion Date regulatory
"automatically upon the Final Conversion Date (as defined in the Issuer's Registration Statement"
Registration Statement on Form S-1 regulatory
"as defined in the Issuer's Registration Statement on Form S-1, as amended"
A registration statement on Form S-1 is a detailed filing a company submits to the U.S. securities regulator to register new shares for public sale; it includes a plain-language prospectus, financial statements, business description and risk factors. For investors it matters because it provides the official, comprehensive blueprint of the offering — like an owner’s manual — allowing buyers to assess risks, inspect financial health and compare valuation before deciding to invest.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did HLI’s General Counsel report on this Form 4?
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 the same day.
Does the HLI Form 4 indicate use of a Rule 10b5-1 trading plan?
No. The Form 4 indicates no Rule 10b5-1 trading plan for these transactions; the document-level checkbox is not marked as being made pursuant to such a plan.
What indirect holdings in HLI does Christopher M. Crain report after the transaction?
Crain reports 51,328 shares of Class B Common Stock held indirectly through the HL Voting Trust, convertible into 51,328 shares of Class A Common Stock on a one-for-one basis.
What is the conversion feature of HLI’s Class B Common Stock mentioned in the Form 4?
The Form 4 notes that 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, and that Class B has no expiration date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
