Company: HLI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001302215-25-000111
Chunk: 71

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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$95.09 Issued68,601 134.08 Forfeitures(24,453)94.62 Vested(269,614)94.71 RSUs as of September 30, 2024618,264 $99.60 Compensation expenses for the Company associated with both equity-classified and liability-classified awards totaled $46,632 and $45,325 for the three months ended September 30, 2025 and 2024, respectively, and $88,852 and $78,396 for the six months ended September 30, 2025 and 2024, respectively.As of September 30, 2025 and 2024, there was $401,499 and $418,918, respectively, of total unrecognized compensation cost related to unvested share awards granted under the 2016 Incentive Plan. These costs will be recognized over a weighted average period of 2.4 years and 1.4 years, as of September 30, 2025 and 2024, respectively.On October 24, 2024, our board of directors approved an amendment (the “Amendment”) to the 2016 Incentive Plan reducing the number of shares of common stock available for issuance under the 2016 Incentive Plan. Under the Amendment, the aggregate number of shares of common stock available for issuance under awards granted pursuant to the 2016 Incentive Plan on or after October 24, 2024 was equal to 8.0 million. Pursuant to the Amendment, the number of shares available for issuance increased on April 1, 2025 by 4,231,218.

Note 15 — Stockholders' Equity

DividendsPreviously declared dividends related to unvested shares of $15,086 and $15,803 were unpaid as of September 30, 2025 and 2024, respectively.

15

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

Share RepurchasesIn April 2022, the board of directors authorized an increase to the existing July 2021 share repurchase program, which provides for share repurchases of a new aggregate amount of up to $500,000 of the Company's Class A common stock and Class B common stock. As