Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 90

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 8
Chunk 90
---
 for issuance under the 2016 Incentive Plan. Under the Amendment, the aggregate number of shares of common stock that are available for issuance under awards granted pursuant to the 2016 Incentive Plan on or after October 24, 2024 is equal to 8.0 million.In addition, the number of shares available for issuance will be increased on April 1, 2025 by an amount equal to the lowest of:•6,540,659 shares of our Class A common stock and Class B common stock;•Six percent of the shares of Class A common stock and Class B common stock outstanding on March 31, 2025, assuming the conversion of any shares of preferred stock, and including shares issuable upon the exercise or payment of stock options, warrants and other equity securities with respect to which shares have not actually been issued; and•such smaller number of shares as determined by our board of directors, which may be issued as shares of Class A common stock or shares of Class B common stock, as determined by the Administrator in its sole discretion and to the extent such class of common stock exists from time to time.

 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.

19

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

Class A Common StockDuring the three months ended December 31, 2024 and 2023, there were no shares issued to non-employee directors and 611,795 and 461,684 shares were converted from Class B to Class A, respectively. During the nine months ended December 31, 2024 and 2023, 5,248 and 6,609 shares were issued to non-employee