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

Executive Summary

• Trading Significance: Low
• Key Takeaway: The General Counsel of Houlihan Lokey made a charitable donation of 1,200 shares, a non-market transaction with minimal impact.
• Market Impact: Neutral. This is a personal financial decision (charity) and does not reflect a change in the insider's sentiment towards the company's future performance.

Company Information

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

Insider Information

Field	Value
Name	CRAIN CHRISTOPHER M
CIK	0001649160
Title/Position	GENERAL COUNSEL
Relationship	Officer

Transaction Details

Field	Value
Form Type	4
Transaction Date	2025-11-26
Transaction Code	G (Gift)
Security Type	CLASS A COMMON STOCK
Shares Involved	1,200
Price Per Share	$0.00
Total Value	$0
Shares Owned After	52,238 (Indirectly via Voting Trust)
Ownership Type	Indirect

Financial Impact Assessment

Transaction Materiality

Metric	Value
Transaction Value	$0
% of Market Cap	0.00%
Shares Transacted	1,200
% of Shares Outstanding	0.0022%
Post-Transaction Ownership	52,238 shares (0.096% of outstanding)
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: The transaction has a value of $0 and involves a number of shares representing an infinitesimal fraction of Houlihan Lokey's $12.61 billion market capitalization.
• Ownership Concentration: The insider's post-transaction ownership of 52,238 shares constitutes approximately 0.096% of total shares outstanding, which is not a significant concentration.
• Transaction Significance: The transaction is a charitable gift, not an open-market sale. Its size is well below any materiality threshold, making its significance low.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: Charitable gifts are typically unrelated to an insider's view on the company's stock performance. The transaction is too small to have any market impact.

Volume & Sentiment

• Expected Volume Impact: None. This was not an open-market transaction.
• Sentiment Indicator: Neutral. A gift does not provide a bullish or bearish signal.

Additional Context

Transaction Notes

• Special Circumstances: The filing indicates a two-step process. 1,200 shares of Class B Common Stock were converted into Class A Common Stock on a one-for-one basis (Code 'C'). Subsequently, these 1,200 Class A shares were disposed of as a charitable donation (Code 'G'). No value was received for the gift.