Carter Todd J 4
4 · HOULIHAN LOKEY, INC. · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Houlihan Lokey Director Todd J. Carter Withholds 13,707 Shares for Taxes
What Happened
Todd J. Carter, a director of Houlihan Lokey, had 13,707 shares (Class B common stock) disposed/withheld to cover taxes related to vested awards. The shares were valued at $150.35 each, for a total of about $2,060,847. This was a tax-withholding action (transaction code F), not an open-market sale.
Key Details
- Transaction date: 2026-05-15; Filing date: 2026-05-19 (filed on time within required reporting window).
- Shares withheld/disposed: 13,707 at $150.35 per share; aggregate value ≈ $2,060,847.
- Shares owned after transaction: Not specified in the filing.
- Footnotes of note:
- F2: These shares were withheld to cover taxes upon the vesting of existing awards under the 2016 Incentive Award Plan.
- F1: Class B common stock is convertible into Class A on a one-for-one basis (per the S-1).
- F3: Some shares are held in the HL Voting Trust; the reporting person retains investment and dispositive power.
- Transaction type explanation: Code F indicates payment of tax liability via share withholding (not a market sale).
Context
Tax-withholding by an issuer is routine when equity awards vest and does not necessarily indicate the insider is selling shares into the market. This was a derivative/award-related withholding (cashless-type settlement) rather than a discretionary sale or purchase. The Class B shares involved are convertible to Class A on a one-for-one basis and some holdings reside in the HL Voting Trust while the director retains control.
Insider Transaction Report
- Tax Payment
CLASS B COMMON STOCK
[F1][F2][F3]2026-05-15$150.35/sh−13,707$2,060,847→ 76,198 total(indirect: By Trust)→ CLASS A COMMON STOCK (13,707 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 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.