Christopher M. Crain - May 19, 2021 Form 4 Insider Report for HOULIHAN LOKEY, INC. (HLI)

Role: GENERAL COUNSEL
Signature: /s/ J. Lindsey Alley, Attorney-in-Fact for Christopher M. Crain
Stock symbol: HLI
Transactions as of: May 19, 2021
Transactions value $: $0
Form type: 4
Date filed: 5/21/2021, 04:40 PM
Previous filing: May 18, 2021
Next filing: May 28, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HLI	CLASS A COMMON STOCK	Conversion of derivative security	$0	+110		$0.00	110	May 19, 2021	Direct	F1
transaction	HLI	CLASS A COMMON STOCK	Gift	$0	-110	-100%	$0.00^*	0	May 19, 2021	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	HLI	CLASS B COMMON STOCK	Conversion of derivative security	$0	-110	-100%	$0.00^*	0	May 19, 2021	CLASS A COMMON STOCK	110		Direct	F1
holding	HLI	CLASS B COMMON STOCK						50.6K	May 19, 2021	CLASS A COMMON STOCK	50.6K		BY HL VOTING TRUST	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Class B common Stock is convertible into Class A Common Stock on a one-for-one basis at the option of the holder, upon any transfer and automatically upon the Final Conversion Date (as defined in the Issuer's Registration Statement on Form S-1, as amended (No. 333-205610)) concerning the Issuer's initial public offering. The Class B Common Stock has no expiration date.
F2	On May 19, 2021, the reporting person made a charitable donation of 110 shares of Class B Common Stock. No value was received for the donated shares.
F3	The shares are held by the HL Voting Trust (the "Voting Trust"). The reporting person retains investment control and dispositive power over the shares deposited into the Voting Trust.