Company: HLI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001302215-25-000111
Chunk: 70

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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Weighted AverageGrant DateFair ValueBalance as of April 1, 20253,686,093 $99.02 Granted1,090,173 173.36 Vested(1,562,307)91.73 Forfeited/Repurchased(153,599)107.64 Balance as of September 30, 20253,060,360 $128.78 Balance as of April 1, 20244,519,024 $83.37 Granted940,701 134.20 Vested(1,614,779)80.24 Forfeited/Repurchased(181,369)88.78 Balance as of September 30, 20243,663,577 $97.54 Activity in liability-classified share awards during the six months ended September 30, 2025 and 2024 was as follows:Awards Settleable in SharesFair ValueBalance as of April 1, 2025$10,342 Offer to grant95 Converted to equity grants (unvested)(3,127)Share price determined-transferred to equity grants(4,703)Forfeited(1,070)Balance as of September 30, 2025$1,537 Balance as of April 1, 2024$17,184 Offer to grant1,659 Share price determined-converted to cash payments(5)Share price determined-transferred to equity grants(7,265)Forfeited(317)Balance as of September 30, 2024$11,256 

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

Activity in Restricted Stock Unit awards during the six months ended September 30, 2025 and 2024 was as follows:Restricted Stock UnitsRSUsWeighted Average Grant Date Fair ValueRSUs as of April 1, 2025677,013 $107.39 Issued59,178 173.33 Forfeitures(6,231)93.78 Vested(295,942)102.20 RSUs as of September 30, 2025434,018 $120.11 RSUs as of April 1, 2024843,730