HLI Form 4: Director receives 483 restricted Class A shares

Rhea-AI Filing Summary

Houlihan Lokey (HLI): Form 4 insider equity grant. Director Ronald Scott Mund reported an award of 483 restricted shares of Class A common stock on 10/01/2025. The grant was recorded at a price of $0 per share under the company’s Amended and Restated 2016 Incentive Award Plan. These restricted shares vest in substantially equal installments on the first, second, and third anniversaries of the grant date, subject to continued service. Following the transaction, he beneficially owns 483 shares directly.

Insider Trade Summary

Net Buyer: 483 shares

Net Buy 1 txn

Insider Mund Ronald Scott

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	483	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 483 shares (Direct)

Footnotes (1)

1. F1. Represents the award of restricted shares of Class A Common Stock under the Company's Amended and Restated 2016 Incentive Award Plan that vest in substantially equal installments on the first, second and third anniversaries of the grant date, subject to the Reporting Person's continuing service through the applicable vesting date.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 10/14/2025 - 06:15 AM Learn about SEC filing dates

FAQ

What did HLI report in this Form 4?

A director, Ronald Scott Mund, received an award of 483 restricted shares of Class A common stock on 10/01/2025.

What is the grant price for the awarded shares?

The restricted shares were recorded at a price of $0 per share.

How do the restricted shares vest for HLI (HLI) director?

They vest in three substantially equal installments on the first, second, and third anniversaries of the grant date, subject to continued service.

How many HLI shares does the director own after the transaction?

He beneficially owns 483 shares directly following the reported transaction.

Under which plan were the shares granted?

The award was granted under the company’s Amended and Restated 2016 Incentive Award Plan.

What was the transaction code on the Form 4?

The transaction code was A (grant/acquisition).

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).

1. Name and Address of Reporting Person^*

Mund Ronald Scott

(Last) (First) (Middle)

C/O HOULIHAN LOKEY, INC.

10250 CONSTELLATION BLVD., 5TH FLOOR

(Street)

LOS ANGELES CA 90067

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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

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

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

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(1)	10/01/2025		A		483	A	$0(1)	483	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:

1. Represents the award of restricted shares of Class A Common Stock under the Company's Amended and Restated 2016 Incentive Award Plan that vest in substantially equal installments on the first, second and third anniversaries of the grant date, subject to the Reporting Person's continuing service through the applicable vesting date.

	/s/ Christopher Crain, Attorney-in-Fact for Ronald Scott Mund	10/13/2025
	** 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.