Form 4: Scott Beiser Executes Houlihan Lokey Stock Sale

Houlihan Lokey Co-Chairman Scott Beiser converted and sold 6,265 shares of Class A Common Stock on May 21, 2026.

Summary

• Scott L. Beiser, Co-Chairman of Houlihan Lokey, Inc., converted 6,265 shares of Class B Common Stock into Class A Common Stock.
• Following the conversion, the reporting person sold the 6,265 shares of Class A Common Stock in the open market.
• The shares were sold at a weighted average price of $150.26 per share, with individual transaction prices ranging from $149.83 to $150.89.
• The transaction resulted in the reporting person holding zero direct shares of Class A Common Stock following the sale, though he retains indirect interest via the HL Voting Trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it represents routine executive liquidity rather than a strategic shift or distress signal.

Positives

• The transaction was executed at a strong market price of $150.26 per share, reflecting current valuation levels for HLI.

Negatives

• The sale represents a divestment of direct holdings by a key executive and Co-Chairman.

Risks

• Future sales by insiders could potentially signal a lack of confidence or a desire to reduce exposure to the company's equity.

Future Outlook

No specific forward-looking guidance was provided in this regulatory filing regarding company operations or future financial performance.

Management Comments

• The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the range upon request.

Industry Context

StockSavvy.ai notes that insider selling by high-level executives at investment banks is common for liquidity purposes and does not necessarily indicate a negative outlook on the firm's operational health.

Comparison to Industry Standards

• The conversion of Class B to Class A shares is a standard mechanism for liquidity in dual-class share structures common among financial services firms.
• The sale volume is relatively small compared to the total holdings of the Co-Chairman, which is typical for executive portfolio rebalancing.

Related Party Transactions

• The reporting person is a trustee of the HL Voting Trust, which holds 787,651 shares of Class B Common Stock.

Stakeholder Impact

• Minimal impact on shareholders as the sale volume is small relative to total outstanding shares.

Next Steps

• Monitor future Form 4 filings for additional insider activity.

Key Dates

Keywords

Houlihan Lokey, HLI, Insider Trading, Form 4, Scott Beiser, Equity Sale