---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-337079"
form_type: "8-K"
ticker: "HLI"
cik: "0001302215"
company_name: "HOULIHAN LOKEY, INC."
filed_at: "2025-12-30T23:59:59+00:00"
generated_at: "2026-05-16T11:57:47.578526+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Houlihan Lokey amends voting trust agreement; revises termination and excess share voting

## Summary
- Termination provisions revised: trust ends 10 years after all Class B converts or when trust holds <5% of outstanding shares.
- If trust holds >30% after conversion, trustees must vote excess shares proportionally with other stockholders.
- Former employees not employed for 12+ months may have shares released from trust after conversion date.
- Employees may withdraw shares for pledging, hedging, or monetization transactions allowed under insider trading policy.
- Special Committee of disinterested directors unanimously approved the amendment.

## SEC filing metadata
- accession: 0001193125-25-337079
- form_type: 8-K
- ticker: HLI
- cik: 0001302215
- company_name: HOULIHAN LOKEY, INC.
- filed_at: 2025-12-30T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1302215/000119312525337079/0001193125-25-337079-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1302215/000119312525337079/d58863d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-337079
- JSON: https://secwatch.observer/filing/0001193125-25-337079.json
- Plain text: https://secwatch.observer/filing/0001193125-25-337079.txt

## Key facts
- Material Agreements
  HOULIHAN LOKEY, INC. entered into A&R Voting Trust Agreement with the trustees named therein (effective 2025-12-30).
  - Action: entry
  - Counterparty: the trustees named therein
  - Effective: 2025-12-30
  source text: On December 30, 2025, Houlihan Lokey, Inc. (the “Company”) entered into an amended and restated voting trust agreement (the “A&R Voting Trust Agreement”), by and among the Company and the trustees named therein (collectively, the “Trustees”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1302215/000119312525337079/0001193125-25-337079-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.