secwatch.observer — SEC 8-K summary
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Issuer:     HOULIHAN LOKEY, INC. (HLI)
CIK:        0001302215
Form:       8-K
Filed at:   2025-12-30T23:59:59+00:00
Accession:  0001193125-25-337079
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1302215/000119312525337079/0001193125-25-337079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1302215/000119312525337079/d58863d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-337079

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