Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 27

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 RSUs as of December 31, 2024612,065 $99.63 RSUs as of April 1, 20231,050,646 $95.46 Issued94,286 87.60 Forfeitures(32,682)90.82 Vested(266,883)94.38 RSUs as of December 31, 2023845,367 $95.09 Compensation expenses for the Company associated with both equity-classified and liability-classified awards totaled $45,586 and $43,974 for the three months ended December 31, 2024 and 2023, respectively, and $123,982 and $126,123 for the nine months ended December 31, 2024 and 2023, respectively.As of December 31, 2024 and 2023, there was $421,133 and $460,973, respectively, of total unrecognized compensation cost related to unvested share awards granted under the 2016 Incentive Plan. These costs are recognized over a weighted average period of 1.2 years and 3.2 years, as of December 31, 2024 and 2023, 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 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