French River 5 Ltd - 04 Sep 2025 Form 4 Insider Report for Hamilton Lane INC (HLNE)

Role: 10%+ Owner
Signature: FRENCH RIVER 5 LTD, By: /s/ Lauren Platko, attorney-in-fact
Issuer symbol: HLNE
Transactions as of: 04 Sep 2025
Net transactions value: -$21,976,500
Form type: 4
Filing time: 08 Sep 2025, 17:42:00 UTC
Previous filing: 25 Apr 2025
SEC: View on sec.gov

Reporting Owners (3)

Name	Relationship	Address	Signature	Signature date	CIK
French River 5 Ltd	10%+ Owner	C/O HAMILTON LANE INCORPORATED, 110 WASHINGTON STREET, SUITE 1300, CONSHOHOCKEN	FRENCH RIVER 5 LTD, By: /s/ Lauren Platko, attorney-in-fact	08 Sep 2025	0002065790
Oakville Number 2 Trust	10%+ Owner	C/O HAMILTON LANE INCORPORATED, 110 WASHINGTON STREET, SUITE 1300, CONSHOHOCKEN	OAKVILLE NUMBER 2 TRUST, By: /s/ Lauren Platko, attorney-in-fact	08 Sep 2025	0001699245
Rysaffe Trustee Co (CI) Ltd	10%+ Owner	C/O HAMILTON LANE INCORPORATED, 110 WASHINGTON STREET, SUITE 1300, CONSHOHOCKEN	RYSAFFE TRUSTEE CO (CI) LTD, By: /s/ Lauren Platko, attorney-in-fact	08 Sep 2025	0001699649

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HLNE	Class A Common Stock	Sale	$21,976,500	-150,000	-31%	$146.51	330,015	04 Sep 2025	Direct	F1
holding	HLNE	Class B Common Stock						7	04 Sep 2025	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
holding	HLNE	Class B Units						7	04 Sep 2025	Class A Common Stock	7		See Footnote	F3, F4

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

Explanation of Responses:

Id	Content
F1	Sold by the reporting person in a registered underwritten offering pursuant to an underwriting agreement dated September 4, 2025.
F2	The Issuer Class B common stock does not carry economic value beyond the right to receive the par value of such stock upon liquidation, dissolution or exchange of those shares. However, the Class B common stock entitles its holder to ten votes per share on every matter submitted to the Issuer's stockholders for a vote.
F3	Pursuant to an Exchange Agreement entered into in connection with a reorganization incident to the Issuer's initial public offering (the "Exchange Agreement"), the Class B Units of Hamilton Lane Advisors, L.L.C. are exchangeable, on a one-for-one basis, for shares of Class A common stock or, at the Issuer's election, for cash. Upon exchange of a Class B Unit, the corresponding share of Class B common stock will be redeemed at par value and cancelled. The Class B Units do not have an expiration date.
F4	The securities reported are owned indirectly by the Trust through HLA Investments, LLC.

Remarks:

This Form is filed by (i) French River 5 Limited, a wholly owned subsidiary of Oakville Number 2 Trust ("Trust') and transferee of securities previously owned by the Trust, (ii) the Trust and (iii) Rysaffe Trustee Company (CI) Limited ("Trustee"). The Trustee is the trustee of the Trust. The Reporting Persons are a member of a group that beneficially owns more than 10% of the Issuer's Class A Common Stock. Exhibit List: Exhibit 24 - Limited Power of Attorney