Form 4: Houlihan Lokey Officer Reports Stock Transaction

Paul Eric Siegert, Co-Chairman of Houlihan Lokey, Inc., reported a transaction involving Class B Common Stock, with shares withheld for tax purposes upon vesting.

Summary

• Paul Eric Siegert, Co-Chairman of Houlihan Lokey, Inc. (HLI), reported a transaction on May 15, 2026.
• The transaction involved 9,359 shares of Class B Common Stock.
• These shares were withheld to cover taxes upon the vesting of existing awards under the Issuer's 2016 Incentive Award Plan.
• The Class B Common Stock is convertible into Class A Common Stock on a one-for-one basis.
• Following the transaction, Siegert beneficially owns 375,298 shares of Class A Common Stock, held indirectly through the HL Voting Trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a standard insider transaction related to stock awards and tax obligations, with no immediate indication of significant positive or negative developments for the company.

Positives

• Vesting of awards indicates continued employee engagement and potential for future value realization.
• The withholding of shares for taxes is a standard procedure upon vesting, suggesting normal operational activity.

Negatives

• The withholding of shares for taxes represents a reduction in the net shares received by the reporting person.

Risks

• The Class B Common Stock is convertible into Class A Common Stock, which could lead to dilution if converted in large quantities.
• The shares are held by a Voting Trust, which may have implications for voting rights and control.

Future Outlook

The filing does not contain specific forward-looking statements or guidance. The conversion of Class B Common Stock to Class A Common Stock is subject to certain conditions and the option of the holder.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures for insider transactions. The details of this filing, specifically the tax withholding upon vesting of awards, are common occurrences for executives in the financial services industry, reflecting standard compensation practices.

Stakeholder Impact

• Shareholders: The transaction itself is a routine event and is unlikely to have a significant direct impact on the share price. However, the underlying vesting of awards suggests continued executive commitment.
• Employees: The vesting of awards and subsequent tax withholding is a standard part of employee compensation for executives.
• Management: The reporting person, Paul Eric Siegert, continues to hold a significant beneficial ownership of the company's stock.

Next Steps

• The Class B Common Stock can be converted into Class A Common Stock at the option of the holder upon any transfer, or automatically upon the Final Conversion Date.
• Further transactions by the reporting person will be subject to SEC reporting requirements.

Key Dates

Keywords

Houlihan Lokey, HLI, Form 4, Insider Trading, Stock Vesting, Tax Withholding, Class B Common Stock, Class A Common Stock, Voting Trust, SEC Filing