SIEGERT PAUL ERIC 4

What Happened
Paul Eric Siegert, Co‑Chairman of Houlihan Lokey, had 9,359 Class B shares withheld on May 15, 2026 to cover tax withholding related to vested awards under the Issuer’s 2016 Incentive Award Plan. The shares are recorded at $150.35 each, for a total value of approximately $1,407,126. This was a tax-withholding disposition of derivative shares (code F), not an open‑market sale.

Key Details

• Transaction date: 2026-05-15; filing date (Form 4): 2026-05-19 (timely filed).
• Shares involved: 9,359 Class B Common Stock withheld. Price per share: $150.35; total value ≈ $1,407,126.
• Transaction code: F (shares withheld to satisfy tax liability upon vesting).
• Security: Class B Common Stock (convertible 1:1 into Class A Common Stock; no expiration).
• Ownership after transaction: not specified in the provided filing excerpt.
• Additional note: shares are held in the HL Voting Trust; Siegert retains investment and dispositive power over voting‑trust shares.

Context
This was a standard tax‑withholding event tied to the vesting of awards (not a voluntary open‑market sale). Such withholdings are routine and generally reflect tax obligations rather than an expression of sentiment about the company. The Class B shares are convertible into Class A shares per the company’s IPO registration terms.