Company: HLI
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001302215-25-000084
Chunk: 44

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 44
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 above the fiscal year 2024 base year revenue, as reported in its Consolidated Statements of Comprehensive Income in the Annual Report on Form 10-K for the applicable fiscal year. The time-based restricted stock awards are subject to vesting over four years in equal installments in May of each of 2025 – 2028.

(3) Because one-quarter of the PSAs is earned or not earned based on the revenue result for the applicable fiscal year and there is no ability to earn more or less, there are no thresholds or maximums for the PSAs.

(4) The amounts reported represent the aggregate grant date fair value of the restricted stock awards and PSAs awarded to our named executive officers in fiscal 2025, calculated in accordance with ASC Topic 718. The ASC Topic 718 grant date fair value of the restricted stock awards and PSAs was determined based on the closing price of our common stock on the grant date and with respect to both the restricted stock awards and PSAs assuming the applicable condition with respect to such vesting date is satisfied. The grant date fair value for the PSAs is therefore based on the maximum performance level. The amounts reported in this column reflect the accounting cost for the restricted stock awards and PSAs and do not necessarily correspond to the actual economic value that may be received by our named executive officers upon settlement of such restricted stock awards and PSAs. We provide information regarding the assumptions used to calculate the value of all stock awards made to executive officers in Note 14 - Employee Benefit Plans to our audited consolidated financial statements included in our Form 10-K.

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#### Outstanding Equity Awards at Fiscal Year‑End
The following table summarizes the number of shares of our Class B common stock underlying outstanding equity incentive plan awards for each named executive officer as of March 31, 2025.

| Name                 |     |                                                             |     | Grant Date   |     |                                                                      |     | Stock Awards |     |                                                                                                            |     |           |     |                                                                                                                            |     |       |     |         |
|                      |     | Number of Shares or Units of Stock That Have Not Vested (#) |     |              |     | Market Value of Shares or Units of Stock That Have Not Vested ($)(1) |     |              |     | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(7) |     |           |     | Equity Incentive Plan Awards: Market or Payout Value