Company: HLI
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001302215-25-000084
Chunk: 47

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 47
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 compensation of Mr. Adelson, who served as our CEO since June 10, 2024, to that of our median compensated employee for fiscal 2025. Because Mr. Adelson’s compensation did not change materially due to his promotion, we did not annualize his compensation as CEO. As set forth in the Summary Compensation Table, Mr. Adelson’s annual compensation for fiscal 2025 was $11,329,033. The total annual compensation of the employee identified as our median compensated employee (excluding our CEO) for fiscal 2025 was $208,000. The ratio of Mr. Adelson’s total compensation for fiscal 2025 to the total compensation of our median compensated employee was approximately 54 to 1.

To identify our median compensated employee for purposes of this pay ratio disclosure, we first determined who constituted our full-time, part-time, and temporary employees other than Mr. Adelson as of December 31, 2024. We ranked the annual compensation of this employee population based on compensation reportable on IRS Form W-2 in the United States and comparable tax reporting documents in other countries. After identifying the median compensated employee from this ranking who was employed with the Company as of March 31, 2025, we calculated annual total compensation for such employee during fiscal 2025 using the same methodology we use for our CEO as set forth in the Summary Compensation Table above.

This pay ratio is a reasonable estimate calculated in a manner consistent with SEC rules based on our payroll and employment records and the methodology described above. The SEC rules for identifying the median compensated employee and calculating the pay ratio based on his or her annual total compensation allow companies to use a variety of methodologies, to apply certain exclusions, and to make reasonable estimates and assumptions that reflect their compensation practices. As such, the pay ratio reported by other companies may not be comparable to the pay ratio we report above, as other companies may have different employment and compensation practices and may use different methodologies, exclusions, estimates and assumptions to calculate their own pay ratios.

The information disclosed in this section was developed and is provided solely to comply with specific legal requirements. We do not use this information in managing our Company and the Compensation Committee does not consider this in any of its deliberations.

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### PAY VERSUS PERFORMANCE
Provided below is the Company’s “Pay Versus Performance” disclosure, which includes the relationship between “compensation actually paid” (“CAP”) to the individuals who served as our Principal Executive Officer (“PEO”)