Company: HLI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001302215-25-000092
Chunk: 26

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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. As of June 30, 2024, there were 52,983,316 Class A shares held by the public and 70,183 Class A shares held by non-employee directors.Class B Common StockAs of June 30, 2025 and 2024, there were 16,004,974 and 16,456,793 Class B shares held by the HL Voting Trust, respectively.

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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)

DividendsPreviously declared dividends related to unvested shares of $13,274 and $15,840 were unpaid as of June 30, 2025 and 2024, respectively. 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 of June 30, 2025, shares with a value of $397,724 remained available for purchase under the program.During the three months ended June 30, 2025 and 2024, the Company repurchased 763,553 and 672,581 shares, respectively, of Class B common stock, to satisfy $137,051 and $100,993, respectively, of required withholding taxes in connection with the vesting of restricted awards. During the three months ended June 30, 2025, the Company repurchased 48,828 shares of its outstanding Class A common stock at a weighted average price of $159.94 per share, excluding commissions, for an aggregate purchase price of $7,810. There were no regular share repurchases made under the existing share repurchase program during the three months ended June 30, 2024.

Note 16 — Leases

Lessee ArrangementsOperating LeasesWe lease real estate and equipment used in operations from third parties. As of June 30, 2025, the remaining term of our operating leases ranged from 1 to 14 years with various automatic extensions.The following table outlines the maturity of our existing operating lease liabilities on a fiscal year-end basis as of June 30, 2025.Maturity of Operating LeasesOperating LeasesRemaining 202