Company: HLI
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001302215-25-000024
Chunk: 128

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-05-15
Form: 10-K
Item: Item 9
Chunk 128
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, 2022, our board of directors approved the registration of an additional 10,000,000 shares of Class A Common Stock and 10,000,000 shares of Class B Common Stock to be issued pursuant to the 2016 Incentive Plan.

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Table of ContentsHOULIHAN LOKEY, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)(In thousands, except share data or as otherwise stated)

Note 15 — Stockholders' Equity 

There are two classes of authorized Company common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion rights. Each share of Class A common stock is entitled to one vote per share, and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock may be converted into one share of Class A common stock at the option of its holder and will be automatically converted into one share of Class A common stock upon transfer thereof, subject to certain exceptions.Class A Common Stock    During the year ended March 31, 2025, the Company issued 5,248 shares to non-employee directors, and 1,699,118 shares were converted from Class B to Class A. During the year ended March 31, 2024, the Company issued 6,609 shares to non-employee directors, and 1,942,078 shares were converted from Class B to Class A. As of March 31, 2025, there were 53,753,606 Class A shares held by the public and 68,583 Class A shares held by non-employee directors. As of March 31, 2024, there were 52,283,576 Class A shares held by the public and 64,935 Class A shares held by non-employee directors.Class B Common StockAs of March 31, 2025, there were 16,021,106 Class B shares held by the HL Voting Trust. As of March 31, 2024, there were 16,746,676 Class B shares held by the HL Voting Trust.DividendsPreviously declared dividends related to unvested shares of $22,790 and $22,883 were unpaid as of March 31, 2025 and 2024,