Christopher M. Crain - Feb 28, 2023 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: Feb 28, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/1/2023, 03:16 PM
Previous filing: May 31, 2022
Next filing: May 17, 2023

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	+190		$0.00	190	Feb 28, 2023	Direct	F1
transaction	HLI	CLASS A COMMON STOCK	Gift	$0	-190	-100%	$0.00^*	0	Feb 28, 2023	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	-190	-100%	$0.00^*	0	Feb 28, 2023	CLASS A COMMON STOCK	190		Direct	F1
holding	HLI	CLASS B COMMON STOCK						58K	Feb 28, 2023	CLASS A COMMON STOCK	58K		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 February 28, 2023, the reporting person made a charitable donation of 190 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.