SEC Filing Analysis: HOULIHAN LOKEY, INC. (HLI)

Executive Summary

• Trading Significance: Low
• Key Takeaway: The Co-Chairman made a charitable donation of 8,000 shares, a non-economic event that does not signal a change in market sentiment.
• Market Impact: Neutral. The transaction is a gift, not an open-market sale, and is too small to impact the stock.

Company Information

Field	Value
Company	HOULIHAN LOKEY, INC.
Ticker Symbol	HLI
CIK	0001302215
Industry	Investment Advice

Insider Information

Field	Value
Name	BEISER SCOTT L
CIK	0001649212
Title/Position	CO-CHAIRMAN
Relationship	Director, Officer, Ten Percent Owner

Transaction Details

This filing reports a sequence of transactions: a conversion followed by a gift.

Field	Value
Form Type	4
Transaction Date	2025-11-10
Transaction Code	G (Gift)
Security Type	CLASS A COMMON STOCK
Shares Involved	8,000
Price Per Share	$0.00
Total Value	$0
Shares Owned After (Direct Class A)	0
Ownership Type	Direct

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$0
% of Market Cap	0.0%
Shares Transacted	8,000
% of Shares Outstanding	0.015%
Post-Transaction Ownership (Indirect Class B)	800,413 shares (1.47% of outstanding)
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: Houlihan Lokey is a large-cap company with a market capitalization of $12.71 billion. A transaction with zero economic value is immaterial.
• Ownership Concentration: The insider maintains a significant indirect holding of 800,413 Class B shares (convertible to Class A) through a trust, representing approximately 1.47% of shares outstanding. The gift of 8,000 shares is a negligible change to this substantial position.
• Transaction Significance: The transaction's significance is low. It represents a tiny fraction (0.015%) of the company's outstanding shares and had no economic value to the insider, indicating it was for philanthropic purposes rather than a market-driven decision.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: The filing documents a charitable gift, not an open-market transaction. Such events do not provide a signal regarding the insider's outlook on the company's future performance.

Volume & Sentiment

• Expected Volume Impact: None. As this was not an open-market trade, it will not directly affect trading volume.
• Sentiment Indicator: Neutral. The action is philanthropic and does not imply bullish or bearish sentiment.

Additional Context

Transaction Notes

• Special Circumstances: The filing details a two-step process. First, the insider converted 8,000 shares of Class B Common Stock into an equal number of Class A Common Stock shares. Immediately following the conversion, the 8,000 Class A shares were disposed of as a charitable donation, for which no value was received, as noted in Footnote F2.