Form 4: Houlihan Lokey General Counsel Donates Shares

Houlihan Lokey's General Counsel, Christopher M. Crain, converted Class B shares to Class A and subsequently donated 1,200 Class B shares.

Summary

• Christopher M. Crain, General Counsel of Houlihan Lokey, Inc. (HLI), reported transactions on November 26, 2025.
• Converted 1,200 shares of Class B Common Stock into 1,200 shares of Class A Common Stock.
• Donated 1,200 shares of Class B Common Stock to a charitable organization, receiving no value for the donated shares.
• Following these transactions, Crain directly owns 1,200 shares of Class A Common Stock and indirectly owns 52,238 shares of Class B Common Stock through the HL Voting Trust.

Sentiment

Score: 5

Explanation: The filing reports a standard insider transaction involving a stock conversion and a charitable donation, which does not directly impact the company's operational or financial performance, thus maintaining a neutral sentiment.

Positives

• General Counsel Christopher M. Crain made a charitable donation of 1,200 shares of Class B Common Stock, demonstrating philanthropic activity.

Negatives

• No direct financial negatives for the company were identified in this filing.

Risks

• No new company-specific risks were identified in this insider transaction report.

Future Outlook

This filing, an insider transaction report, does not provide any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This insider transaction report details personal stock activities of an executive and does not provide information directly related to broader industry trends or competitive landscape.

Related Party Transactions

• The reporting person's indirect beneficial ownership of 52,238 Class B Common Stock shares is held by the HL Voting Trust.

Stakeholder Impact

• Shareholders: The charitable donation represents a minor disposition of shares by an insider, not a sale for profit, and the conversion is a technical change in share class. No significant impact on shareholder value is expected.
• Employees, Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this insider transaction report.

Key Dates

Recommendation

This Form 4 reports a routine insider transaction involving a stock conversion and a charitable donation. It does not provide any new information regarding the company's financial performance, strategic direction, or operational health that would warrant a change in investment recommendation. The transaction is a personal action by an executive and does not signal a change in company fundamentals.

Keywords

Houlihan Lokey, HLI, Form 4, insider transaction, stock conversion, charitable donation, Class A Common Stock, Class B Common Stock, Christopher M. Crain