Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 87

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 8
Chunk 87
---
831,122 64,411,668 65,563,605 64,258,216 Weighted average number of incremental shares pertaining to unvested restricted stock and issuable in respect of unvested restricted stock units, as calculated using the treasury stock method2,929,837 3,474,633 2,994,720 3,638,086 Weighted average shares of common stock outstanding — diluted68,760,959 67,886,301 68,558,325 67,896,302 Basic earnings per share$1.45 $1.10 $4.24 $3.10 Diluted earnings per share$1.39 $1.04 $4.05 $2.93 

Note 14 — Employee Benefit Plans

Defined Contribution PlansThe Company sponsors a 401(k) defined contribution savings plan for its domestic employees and defined contribution retirement plans for its international employees. The Company contributed approximately $3,352 and $3,471 to these plans during the three months ended December 31, 2024 and 2023, respectively, and $9,758 and $9,583 during the nine months ended December 31, 2024 and 2023, respectively.Share-Based Incentive PlansAwards of restricted shares and restricted stock units have been and will be made under the Amended and Restated Houlihan Lokey, Inc. 2016 Incentive Award Plan (the "2016 Incentive Plan"), which became effective in August 2015 and was amended in October 2017. Under the 2016 Incentive Plan, it is anticipated that the Company will continue to grant cash and equity-based incentive awards to eligible service providers in order to attract, motivate and retain the talent necessary to operate the Company's business. Equity-based incentive awards issued under the 2016 Incentive Plan generally vest over a four-year period. Restricted shares of Class A common stock were granted under the 2016 Incentive Plan to (i) six independent directors in the first quarter of the fiscal year ended March 31, 2024, at $87.60 per share and (ii) six independent directors in the first quarter of the fiscal year ending March 31, 2025, at $134.08 per share.No excess tax benefit was recognized during the three months ended December 31, 2024 and 2023. An excess