J. Lindsey Alley - Nov 2, 2021 Form 4 Insider Report for HOULIHAN LOKEY, INC. (HLI)

Role: Chief Financial Officer
Signature: J. Lindsey Alley
Stock symbol: HLI
Transactions as of: Nov 2, 2021
Transactions value $: -$1,169,300
Form type: 4
Date filed: 11/4/2021, 04:48 PM
Previous filing: May 28, 2021
Next filing: May 17, 2022

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	+10K		$0.00	10K	Nov 2, 2021	Direct	F1
transaction	HLI	CLASS A COMMON STOCK	Sale	-$1.17M	-10K	-100%	$116.93	0	Nov 2, 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	-10K	-100%	$0.00^*	0	Nov 2, 2021	CLASS A COMMON STOCK	10K		Direct	F1
holding	HLI	CLASS B COMMON STOCK						77.5K	Nov 2, 2021	CLASS A COMMON STOCK	77.5K		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	Per share price reflects the weighted average price in a series of open market sales on November 2, 2021 at prices ranging from $116.22 per share to $117.62 per share. The reporting person undertakes to provide to Houlihan Lokey, Inc., and security holder of Houlihan Lokey, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range identified in this footnote.
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.