BEISER SCOTT L 4
4 · HOULIHAN LOKEY, INC. · Filed May 21, 2026
Research Summary
AI-generated summary of this filing
Houlihan Lokey (HLI) 10% Owner Scott Beiser Sells 6,265 Shares
What Happened Scott L. Beiser, a 10% owner and trustee of the HL Voting Trust, converted 6,265 shares of Class B common stock into Class A common stock (one-for-one, no cash paid) and immediately sold those 6,265 Class A shares in open-market transactions on May 21, 2026. The sale produced aggregate proceeds of approximately $941,379 at a weighted-average price of $150.26 per share (sales ranged $149.83–$150.89 per share).
Key Details
- Transaction date: May 21, 2026 (filing date: May 21, 2026 — timely).
- Conversion: 6,265 Class B → 6,265 Class A shares; conversion had $0 consideration (per Form S-1 terms).
- Sale: 6,265 shares sold in open market at weighted avg $150.26; gross proceeds ≈ $941,379.
- Price range: $149.83–$150.89 (reporting person can provide breakdown of shares sold at each price).
- Shares owned after transaction: not specified in the provided filing excerpt.
- Filing notes: Beiser is a trustee of the HL Voting Trust and has shared voting control and a pecuniary interest in the reported shares.
Context
- The transaction is a conversion of convertible Class B shares followed by an immediate open-market sale — effectively a non-cash conversion then disposition. For retail investors, sales by large holders can be routine (liquidity or portfolio rebalancing) and do not necessarily signal change in company fundamentals.
- As a 10% owner and voting trust trustee, Beiser is a large stakeholder but not necessarily an executive trading on insider operational knowledge; disclosures note control and pecuniary interest.
Insider Transaction Report
Form 4
BEISER SCOTT L
DirectorCO-CHAIRMAN10% Owner
Transactions
- Conversion
CLASS A COMMON STOCK
[F1]2026-05-21+6,265→ 6,265 total - Sale
CLASS A COMMON STOCK
[F2]2026-05-21$150.26/sh−6,265$941,379→ 0 total - Conversion
CLASS B COMMON STOCK
[F1]2026-05-21−6,265→ 0 total→ CLASS A COMMON STOCK (6,265 underlying)
Holdings
- 787,651(indirect: By Trust)
CLASS B COMMON STOCK
[F1][F3]→ CLASS A COMMON STOCK (787,651 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]Per share price reflects the weighted average price in a series of open market sales on May 21, 2026 at prices ranging from $149.83 per share to $150.89 per share. The reporting person undertakes to provide to Houlihan Lokey, Inc., and security holder of Houlihan Lokey, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range identified in this footnote.
- [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.
Signature
/s/ J. Lindsey Alley, Attorney-in-Fact for Scott L. Beiser|2026-05-21