Houlihan Lokey, Inc. (NYSE:HLI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On October19, 2017, the board of directors of Houlihan Lokey, Inc. (the “Company”) approved an amendment (the “Amendment”) to the the Amended and Restated Houlihan Lokey, Inc. 2016 Incentive Award Plan (the “Plan”) reducing the number of shares of Company common stock available for issuance under the Plan by approximately 12.2million shares. Under the Amendment, the aggregate number of shares of common stock that are available for issuance under awards granted to the Plan is equal to the sum of (i) 8,000,000 and (ii)any shares of our ClassB common stock that are subject to awards under our Amended and Restated 2006 Incentive Compensation Plan that terminate, expire or lapse for any reason after October19, 2017.
The number of shares available for issuance will be increased annually beginning on April1, 2018 and ending on April1, 2025, by an amount equal to the lowest of:
| • | 6,540,659 shares of our ClassA common stock and ClassB common stock; |
| • | six percent of the shares of ClassA common stock and ClassB common stock outstanding on the final day of the immediately preceding fiscal year; and |
| • | such smaller number of shares as determined by the Board. |
A copy of the Amendment is filed as Exhibit 10.1 hereto and is incorporated by reference.
| Item 5.02. | Financial Statements and Exhibits. |
(d) Exhibits
|
Exhibit Number |
Exhibit Description |
| 10.1 | Amendment to Amended and Restated Houlihan Lokey, Inc. 2016 Incentive Award Plan |
EXHIBIT INDEX
HOULIHAN LOKEY, INC. ExhibitEX-10.1 2 d466877dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 AMENDMENT TO AMENDED AND RESTATED HOULIHAN LOKEY,…To view the full exhibit click here
About Houlihan Lokey, Inc. (NYSE:HLI)
Houlihan Lokey, Inc. is an independent investment bank that focuses on mergers and acquisitions (M&A), financings, financial restructurings and financial advisory services. The Company, through its offices in the United States, Europe, Asia and Australia, serves a set of clients across the world, including corporations, financial sponsors and government agencies. It operates through three segments: Corporate Finance, Financial Restructuring and Financial Advisory Services. The Corporate Finance activities include two categories: M&A and capital markets advisory. The Financial Restructuring segment advises on restructurings around the world. The Financial Advisory Services segment includes financial opinions, and a range of valuation and financial consulting services. The Company’s primary subsidiaries include Houlihan Lokey Capital, Inc., Houlihan Lokey Financial Advisors, Inc. and Houlihan Lokey EMEA, LLP.
