Form 4: Houlihan Lokey General Counsel Sells 500 Shares Under Pre-Arranged Trading Plan
Insider Transaction Report
Christopher M. Crain, General Counsel of Houlihan Lokey, Inc., sold 500 shares of Class A Common Stock for $173.02 per share on June 2, 2025, as part of a Rule 10b5-1 trading plan.
Summary
- Christopher M. Crain, General Counsel of Houlihan Lokey, Inc. (HLI), reported changes in beneficial ownership of the company's securities.
- On June 2, 2025, Mr. Crain converted 500 shares of Class B Common Stock into 500 shares of Class A Common Stock.
- Immediately following the conversion, he sold these 500 shares of Class A Common Stock at a price of $173.02 per share.
- These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on November 18, 2024.
- After these transactions, Mr. Crain directly owns 0 shares of Class A Common Stock.
- He continues to indirectly beneficially own 53,938 shares of Class B Common Stock through the HL Voting Trust, over which he retains investment control and dispositive power.
Sentiment
Score: 5
Explanation: Neutral. The transaction is a routine insider sale under a pre-arranged 10b5-1 plan, which is a common practice and does not inherently signal positive or negative sentiment about the company's future prospects.
Positives
- The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned and transparent transaction rather than an immediate reaction to new information.
Negatives
- An insider disposition of shares, even if pre-planned, reduces the direct ownership stake of a key executive.
Future Outlook
NA
Industry Context
This document is an insider transaction report specific to Houlihan Lokey and does not provide broader industry context or trends.
Stakeholder Impact
- Shareholders: The sale of shares by a General Counsel, while small and pre-planned, represents a slight reduction in direct insider alignment, though indirect ownership remains significant.
Key Dates
| Date | Description |
|---|---|
| 11/18/2024 | Date Rule 10b5-1 trading plan was adopted by Christopher M. Crain. |
| 06/02/2025 | Date of reported transactions (conversion of Class B to Class A Common Stock and subsequent sale of Class A Common Stock). |
| 06/03/2025 | Signature date of the Form 4 filing. |
Keywords
Houlihan Lokey, HLI, Form 4, Insider Trading, Stock Sale, Rule 10b5-1, Christopher M. Crain, General Counsel, Beneficial Ownership
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