Company: HLI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001302215-25-000092
Chunk: 80

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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 share data or as otherwise stated)

The share awards are classified as equity awards at the time of grant unless the number of shares granted is unknown. Awards that are settleable in shares based upon a future determinable stock price are classified as liabilities until the price is established and the resulting number of shares is known, at which time they are re-classified from liabilities to equity awards. Activity in equity-classified share awards which relate to the 2016 Incentive Plan during the three months ended June 30, 2025 and 2024 was as follows:Unvested Share AwardsSharesWeighted AverageGrant DateFair ValueBalance, April 1, 20253,686,093 $99.02 Granted1,077,409 173.13 Vested(1,561,578)91.74 Forfeited/Repurchased(90,806)100.64 Balance, June 30, 20253,111,118 $128.29 Balance, April 1, 20244,519,024 $83.37 Granted912,625 134.08 Vested(1,607,736)80.09 Forfeited/Repurchased(131,618)177.11 Balance, June 30, 20243,692,295 $97.24 Activity in liability-classified share awards during the three months ended June 30, 2025 and 2024 was as follows:Awards Settleable in SharesFair ValueBalance, April 1, 2025$10,342 Offer to grant95 Converted to equity grants (unvested)(3,127)Share price determined-transferred to equity grants(4,703)Forfeited(1,070)Balance, June 30, 2025$1,537 Balance, April 1, 2024$17,184 Offer to grant1,625 Share price determined-converted to cash payments(5)Share price determined-transferred to equity grants(7,265)Forfeited(224)Balance, June 30, 2024$11,315 

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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)

Activity in Restricted Stock Unit awards during the three months ended June 30