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 July 20, 2017, the Board of Directors (the “Board”) of Houlihan Lokey, Inc. (the “Company”) adopted the Amended and Restated Houlihan Lokey, Inc. 2016 Incentive Award Plan (the “Amended Plan”).
The Amended Plan amends and restates the Company’s 2016 Incentive Award Plan (the “Original Plan”). In particular, the Amended Plan makes the following material changes to the Original Plan:
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Prohibits the payment of dividends or dividend equivalents with respect to awards granted under the Amended Plan until the applicable vesting conditions are satisfied and the award vests, unless otherwise determined by the plan administrator. |
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Permits net share tax withholding with respect to awards granted to the Amended Plan up to the maximum statutory withholding rates in the applicable jurisdiction. |
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Extends the term of the Original Plan for ten years until June 29, 2027. |
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Permits the Company to grant awards intended to be qualified performance based compensation under Section 162(m) of the Internal Revenue Code of 1986. |
The material changes to the Amended Plan described above do not purport to be a complete description of the Amended Plan, and are qualified in their entirety by reference to the complete text of the Amended Plan, which will be included in our proxy statement and filed with our upcoming Form 10-Q.
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. HOULIHAN LOKEY, INC. (NYSE:HLI) Recent Trading Information
HOULIHAN LOKEY, INC. (NYSE:HLI) closed its last trading session up +0.66 at 38.60 with 197,057 shares trading hands.
