[Form 4] Hamilton Lane INC Insider Trading Activity

Rhea-AI Filing Summary

Hamilton Lane Inc. (HLNE) reports a Form 4 showing that director Leslie F. Varon was issued 666 shares of Class A common stock on 09/16/2025 as restricted stock under the company’s Amended and Restated 2017 Equity Incentive Plan in consideration of board service. The award was granted at no cash price and the shares vest one year from the transaction date. After the grant, the reporting person beneficially owns 9,658 shares of Class A common stock, held directly. The Form 4 was filed by one reporting person and signed via attorney-in-fact on 09/18/2025.

Positive

• 666 Class A restricted shares issued to director Leslie F. Varon on 09/16/2025
• Shares vest one year from the transaction date, per the filing
• Post-transaction direct beneficial ownership reported as 9,658 shares

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation in equity form; restricted shares vest in one year and increase direct holdings to 9,658 shares.

The filing documents a standard director compensation event where 666 Class A restricted shares were issued to Leslie F. Varon for board service under the 2017 Equity Incentive Plan. The grant price is $0, indicating a service-based award rather than a purchase, and shares vest one year after the 09/16/2025 grant date. This is a common practice to align board members with shareholder interests while using time-based vesting to encourage continued service. The filing is procedural and contains no other changes to control or additional derivative instruments.

Securities Analyst

TL;DR: Minor insider equity grant reported; holdings post-transaction are disclosed as 9,658 direct shares.

The Form 4 shows the issuance of 666 Class A shares to a director, reported with transaction code A (acquisition). The disclosure includes the post-transaction beneficial ownership figure of 9,658 shares and confirms direct ownership. No derivative securities or disposals are reported. From a market-impact perspective, this is a routine disclosure without material effect on control or capital structure based on the information provided in the filing.

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
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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^*

VARON LESLIE F

(Last) (First) (Middle)

C/O HAMILTON LANE INCORPORATED

110 WASHINGTON STREET, SUITE 1300

(Street)

CONSHOHOCKEN PA 19428

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Hamilton Lane INC [ HLNE ]

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)
09/16/2025

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	09/16/2025		A		666(1)	A	$0	9,658	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 number of shares issued to the reporting person pursuant to an award of restricted stock under the Issuer's Amended and Restated 2017 Equity Incentive Plan in consideration of the reporting person's service on the board of directors of the Issuer. The shares vest one year from the transaction date.

Remarks:

	/s/ Lauren Platko, attorney-in-fact	09/18/2025
	** 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.

FAQ

What transaction did Leslie F. Varon report on the HLNE Form 4?

The Form 4 reports an acquisition (code A) of 666 Class A restricted shares on 09/16/2025 issued under the 2017 Equity Incentive Plan.

How many shares does the reporting person beneficially own after the transaction?

The filing states the reporting person beneficially owns 9,658 shares of Class A common stock following the reported transaction.

When do the restricted shares vest?

The restricted shares vest one year from the transaction date of 09/16/2025, per the explanation in the Form 4.

Was any cash paid for the shares reported on the Form 4?

The transaction is reported with a price of $0, indicating the shares were issued as an award rather than purchased.

Who signed the Form 4 filing and when?

The Form 4 was signed by /s/ Lauren Platko, attorney-in-fact on 09/18/2025.