Company: HLI
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001302215-25-000084
Chunk: 49

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 49
---
     |                                                         | 1,339,875 |     |                                                                                          |   405,259 |     |                                                                             | 179,825 |     |                                         |  7,297,584 |

(a) Our NEOs did not participate in any Company pension plans during the covered fiscal years; therefore, there are no compensation adjustments for pension values or pension service costs.

(b) Our NEOs did not receive any dividends or dividend equivalents from the Company during the covered fiscal years that were not already reflected in the fair value of the corresponding dividend yielding awards received; therefore, there are no such related compensation adjustments.

(c) Our NEOs did not have any award forfeitures or accelerations during the covered fiscal years; therefore, there are no such related compensation adjustments.

| 33 |

Narrative Disclosure to Pay Versus Performance Table

### Relationship Between Financial Performance Measures
The graphs below compare the compensation actually paid to our PEOs and the average of the compensation actually paid to our remaining NEOs, with (i) our cumulative TSR, (ii) our Peer Group TSR, (iii) our net income, and (iv) our revenue, in each case, for the 2021, 2022, 2023, 2024 and 2025 fiscal years.

Compensation Actually Paid versus Total Shareholder Return

The TSR amounts reported in the graph below assume an initial fixed investment of $100 on April 1, 2020, and that all dividends, if any, were reinvested.

| 34 |

| 35 |

#### Pay Versus Performance Tabular List
We believe revenuerepresents the most important financial performance measure used by us to link compensation actually paid to our NEOs for the 2025 fiscal year.

| 36 |

### STOCK OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The following table sets forth information with respect to the beneficial ownership of our common stock, as of July 24, 2025, for:

• each person known by us to beneficially own more than 5% of our Class A common stock or Class B common stock;

• each of our named executive officers, directors, and director nominees; and

• all of our executive officers and directors as a group.

The number of shares of our common stock beneficially owned by each stockholder is determined under rules issued by the SEC and includes voting or investment power with respect to securities. Under these rules, beneficial ownership includes any shares of our common stock as