CRAIN CHRISTOPHER M 4

What Happened Christopher M. Crain, General Counsel of Houlihan Lokey, was granted 3,197 shares of Class B Common Stock on May 21, 2026 under the company's 2016 Incentive Award Plan (grant reported as a derivative acquisition at $0.00). The same 3,197 Class B shares were deposited into the HL Voting Trust that day (reported as a deposit/disposition). The grant vests in four equal annual installments following the grant date and the reported acquisition value is $0.

Key Details

• Transaction date: May 21, 2026; Form 4 filed May 22, 2026 (appears timely).
• Grant: 3,197 shares of Class B Common Stock, acquisition price reported $0.00 (derivative award).
• Deposit: 3,197 Class B shares deposited into the HL Voting Trust (disposition code Z); reporting person retains investment and dispositive power.
• Vesting: Shares vest in four equal annual installments (per filing footnote).
• Conversion: Class B Common Stock is convertible 1-for-1 into Class A Common Stock (per filing footnote).
• Shares owned after transaction: not specified in the filing.

Context This filing records an equity award (not an open‑market buy or sale) and a deposit into the company’s voting trust. Awards and voting-trust deposits are routine corporate actions and do not by themselves indicate a personal buy/sell market signal.