LOS ANGELES, CA - Houlihan Lokey, Inc. (NYSE:HLI), a global investment bank, has amended its incentive award plan, impacting the number of shares available for issuance to employees under the plan. The board of directors approved the changes on Thursday, reducing the available shares for future awards.
The second amendment to the Amended and Restated Houlihan Lokey, Inc. 2016 Incentive Award Plan now sets the aggregate number of shares of common stock available for issuance at 8,000,000, effective from the date of the board's decision. Additionally, the plan will see an increase in the number of shares available for issuance on April 1, 2025. The increase will be the lesser of 6,540,659 shares, six percent of the Class A and Class B common stock outstanding as of March 31, 2025, or a smaller amount determined by the board.
This adjustment aligns with the company's strategy to manage its equity compensation pool effectively. The incentive award plan is a common tool for companies to attract, retain, and motivate employees by aligning their interests with those of the company’s shareholders.
The filing with the Securities and Exchange Commission (SEC) includes the full text of the amendment, which provides further details on the terms of the equity compensation plan moving forward. This information is based on a press release statement and reflects the latest corporate governance actions taken by the company.
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