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

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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,438 $99.55 Compensation expenses for the Company associated with both equity-classified and liability-classified awards totaled $42,220 and $33,071 for the three months ended June 30, 2025 and 2024, respectively.As of June 30, 2025 and 2024, there was $435,951 and $412,184, 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 2.5 years and 2.6 years, as of June 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

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.Class A Common StockDuring the three months ended June 30, 2025 and 2024, there were 3,998 and 5,248 shares issued to non-employee directors, and 552,818 and 608,084 shares were converted from Class B to Class A, respectively.As of June 30, 2025, there were 54,258,196 Class A shares held by the public and 71,981 Class A shares held by non-employee directors