BEISER SCOTT L 4
4 · HOULIHAN LOKEY, INC. · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Houlihan Lokey (HLI) 10% Owner Scott Beiser Sells 6,497 Shares
What Happened
Scott L. Beiser, a 10% owner of Houlihan Lokey, had 6,497 shares (derivative Class B common stock) withheld/disposed to cover tax liabilities related to vested awards. The shares were valued at $150.35 each for a total of $976,824. The transaction is reported as code "F" (payment of exercise price or tax liability).
Key Details
- Transaction date: 2026-05-15; Filing date: 2026-05-19 (filed 4 days after the transaction — appears late relative to the two-business-day Form 4 deadline).
- Shares involved: 6,497 shares disposed/withheld. Price per share: $150.35. Total value: $976,824.
- Security type: Class B Common Stock (derivative); footnote indicates Class B is convertible to Class A on a one-for-one basis.
- Footnotes of note:
- F2: Shares were withheld to cover taxes upon vesting of existing awards under the Issuer’s 2016 Incentive Award Plan.
- F1: Class B common stock converts to Class A one-for-one; Class B has no expiration date.
- F3: Beiser is a trustee of the HL Voting Trust, with shared voting control and a pecuniary interest in the shares reported.
- Post-transaction shares owned: not specified in the provided filing details.
Context
This was a tax-withholding disposition of vested award shares (transaction code F), not an open-market sale indicating a directional bet. As a 10% owner and trustee of a voting trust, Beiser’s filing reflects institutional/insider plan mechanics (withholding to meet tax obligations) rather than a discretionary sale. Late filing reduces timeliness of public disclosure but does not by itself indicate improper trading.
Insider Transaction Report
- Tax Payment
CLASS B COMMON STOCK
[F1][F2][F3]2026-05-15$150.35/sh−6,497$976,824→ 793,916 total(indirect: By Trust)→ CLASS A COMMON STOCK (6,497 underlying)
Footnotes (3)
- [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]Represents shares withheld to cover taxes upon the vesting of existing awards under the Issuer's 2016 Incentive Award Plan.
- [F3]The reporting person is a trustee of the HL Voting Trust (the "Voting Trust"). The trustees of the Voting Trust have shared voting control over the shares deposited into the Voting Trust. The reporting person has a pecuniary interest in and investment control over the shares reported herein.