Form 4: Houlihan Lokey Director Gillian Zucker Sells Shares Under 10b5-1 Trading Plan

Gillian Zucker, a director at Houlihan Lokey, sold 200 shares of Class A Common Stock at $187.46 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Gillian Zucker, a director at Houlihan Lokey, sold 200 shares of the company's Class A Common Stock.
• The sale occurred on November 13, 2024, at a price of $187.46 per share.
• The transaction was executed under a Rule 10b5-1 trading plan adopted by Ms. Zucker on May 21, 2024.
• Following the transaction, Ms. Zucker directly owns 6,401 shares of Houlihan Lokey stock.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of a stock sale by a director under a pre-arranged plan. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine disclosure of an insider transaction. It is common for corporate insiders to use 10b5-1 trading plans to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among corporate insiders at publicly traded companies, including those in the financial services sector like Houlihan Lokey.
• Similar filings are regularly made by directors and officers at companies like Goldman Sachs (GS), Morgan Stanley (MS), and Lazard (LAZ) when they execute pre-planned stock sales.
• The volume of shares sold is relatively small compared to the total outstanding shares of HLI, which is typical for routine insider sales.

Stakeholder Impact

• The sale is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors due to the small volume of shares sold and the pre-planned nature of the transaction.

Key Dates

Keywords

Houlihan Lokey, Gillian Zucker, insider trading, Form 4, stock sale, Rule 10b5-1, director, HLI