HOULIHAN LOKEY, INC., DEF 14A filed on 7/26/2024
Proxy Statement (definitive)
v3.24.2
Cover
 12 Months Ended
Mar. 31, 2024
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Houlihan Lokey, Inc.
Entity Central Index Key 0001302215
v3.24.2
Pay vs Performance Disclosure
number in Millions
 12 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Mar. 31, 2022
USD ($)
Mar. 31, 2021
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Fiscal 2024 Pay Versus Performance Table
Fiscal YearSummary Compensation Table Total for PEO ($)(1)(2)Compensation Actually Paid to PEO ($)(4)Average Summary Compensation Table Total for Non-PEO Named Executive Officers ($)(1)(2)Average Compensation Actually Paid to Non-PEO Named Executive OfficersValue of Initial Fixed $100 Investment Based onNet Income ($)(in millions)Revenue ($)(in millions)
Total Shareholder Return ($)Peer Group Total Shareholder Return ($)(3)
20246,500,000 8,186,625 3,557,167 4,988,308 250220280 1,914 
20237,000,000 7,003,642 4,587,500 4,594,878 172165254 1,809 
202210,650,000 11,538,558 10,162,500 10,946,169 172192438 2,270 
20216,900,000 7,612,667 6,712,500 7,297,584 130167313 1,525 
      
Company Selected Measure Name evenue      
Named Executive Officers, Footnote Scott Beiser served as the Company’s Chief Executive Officer from 2003 to 2024, including all of fiscal 2024, and was the Principal Executive Officer (“PEO”) of the Company during fiscal years 2021 through 2024. The other Named Executive Officers for each fiscal year were Messrs. Alley, Gold, Adelson and Preiser.      
Peer Group Issuers, Footnote For the relevant fiscal year, represents the cumulative TSR of the S&P 500 Financials Index (“the Peer Group TSR”).      
PEO Total Compensation Amount $ 6,500,000 $ 7,000,000 $ 10,650,000 $ 6,900,000
PEO Actually Paid Compensation Amount $ 8,186,625 7,003,642 11,538,558 7,612,667
Adjustment To PEO Compensation, Footnote Compensation actually paid to our Named Executive Officers represents the "Total" compensation reported in the Summary Compensation Table for the applicable fiscal year, adjusted as set forth in the following table. As described above, awards under our annual bonus program are paid, in part, in the form of restricted stock that is granted in the fiscal year following the applicable performance year, which vests over a four-year period following the grant date. In accordance with SEC guidance, we disclose the dollar-denominated value of these awards in the "Non-Equity Incentive Compensation" column of the Summary Compensation Table with respect to the applicable performance year (rather than as "Stock Awards" for the year of grant); as such, we believe the awards are not required to be included in the adjustments to calculating compensation actually paid. However, in an effort to comply with the spirit of the SEC pay versus performance rules relating to the adjustments for outstanding equity awards, we have treated the restricted stock awards as equity awards and captured them as part of the adjustments below.
Fiscal YearSummary Compensation Table Total ($)Less: Stock Awards Granted for Fiscal Year ($)Add: Unvested Equity Awards Granted for Fiscal Year ($)Increase/(Decrease) in Value of Unvested Equity Awards Granted in Prior Fiscal Years ($)Increase/(Decrease) in Value of Equity Awards Vested During Fiscal Year ($)Compensation Actually Paid ($)(a)(b)(c)
Principal Executive Officer
20246,500,000 (1,050,000)1,050,000 1,658,694 27,931 8,186,625 
20237,000,000 (1,137,500)1,137,500 53,895 (50,253)7,003,642 
202210,650,000 (1,776,250)1,776,250 759,002 129,556 11,538,558 
20216,900,000 (1,338,000)1,338,000 463,549 249,118 7,612,667 
Other Named Executive Officers (Average)
20243,557,167 (591,063)591,063 1,405,485 25,656 4,988,308 
20234,587,500 (722,313)722,313 53,068 (45,690)4,594,878 
202210,162,500 (1,730,750)1,730,750 675,990 107,679 10,946,169 
20216,712,500 (1,339,875)1,339,875 405,259 179,825 7,297,584 
(a)Our NEOs did not participate in any Company pension plans during the covered fiscal years; therefore, there are no compensation adjustments for pension values or pension service costs.
(b)Our NEOs did not receive any dividends or dividend equivalents from the Company during the covered fiscal years that were not already reflected in the fair value of the corresponding dividend yielding awards received; therefore, there are no such related compensation adjustments.
(c)Our NEOs did not have any award forfeitures or accelerations during the covered fiscal years; therefore, there are no such related compensation adjustments.
      
Non-PEO NEO Average Total Compensation Amount $ 3,557,167 4,587,500 10,162,500 6,712,500
Non-PEO NEO Average Compensation Actually Paid Amount $ 4,988,308 4,594,878 10,946,169 7,297,584
Adjustment to Non-PEO NEO Compensation Footnote Compensation actually paid to our Named Executive Officers represents the "Total" compensation reported in the Summary Compensation Table for the applicable fiscal year, adjusted as set forth in the following table. As described above, awards under our annual bonus program are paid, in part, in the form of restricted stock that is granted in the fiscal year following the applicable performance year, which vests over a four-year period following the grant date. In accordance with SEC guidance, we disclose the dollar-denominated value of these awards in the "Non-Equity Incentive Compensation" column of the Summary Compensation Table with respect to the applicable performance year (rather than as "Stock Awards" for the year of grant); as such, we believe the awards are not required to be included in the adjustments to calculating compensation actually paid. However, in an effort to comply with the spirit of the SEC pay versus performance rules relating to the adjustments for outstanding equity awards, we have treated the restricted stock awards as equity awards and captured them as part of the adjustments below.
Fiscal YearSummary Compensation Table Total ($)Less: Stock Awards Granted for Fiscal Year ($)Add: Unvested Equity Awards Granted for Fiscal Year ($)Increase/(Decrease) in Value of Unvested Equity Awards Granted in Prior Fiscal Years ($)Increase/(Decrease) in Value of Equity Awards Vested During Fiscal Year ($)Compensation Actually Paid ($)(a)(b)(c)
Principal Executive Officer
20246,500,000 (1,050,000)1,050,000 1,658,694 27,931 8,186,625 
20237,000,000 (1,137,500)1,137,500 53,895 (50,253)7,003,642 
202210,650,000 (1,776,250)1,776,250 759,002 129,556 11,538,558 
20216,900,000 (1,338,000)1,338,000 463,549 249,118 7,612,667 
Other Named Executive Officers (Average)
20243,557,167 (591,063)591,063 1,405,485 25,656 4,988,308 
20234,587,500 (722,313)722,313 53,068 (45,690)4,594,878 
202210,162,500 (1,730,750)1,730,750 675,990 107,679 10,946,169 
20216,712,500 (1,339,875)1,339,875 405,259 179,825 7,297,584 
(a)Our NEOs did not participate in any Company pension plans during the covered fiscal years; therefore, there are no compensation adjustments for pension values or pension service costs.
(b)Our NEOs did not receive any dividends or dividend equivalents from the Company during the covered fiscal years that were not already reflected in the fair value of the corresponding dividend yielding awards received; therefore, there are no such related compensation adjustments.
(c)Our NEOs did not have any award forfeitures or accelerations during the covered fiscal years; therefore, there are no such related compensation adjustments.
      
Compensation Actually Paid vs. Total Shareholder Return
Compensation Actually Paid versus Total Shareholder Return
The TSR amounts reported in the graph below assume an initial fixed investment of $100, and that all dividends, if any, were reinvested.


PvP 1.jpg
PvP 2.jpg
      
Total Shareholder Return Vs Peer Group
Compensation Actually Paid versus Total Shareholder Return
The TSR amounts reported in the graph below assume an initial fixed investment of $100, and that all dividends, if any, were reinvested.


PvP 1.jpg
PvP 2.jpg
      
Tabular List, Table
Pay Versus Performance Tabular List
We believe revenue represents the most important financial performance measure used by us to link compensation actually paid to our NEOs for the 2024 fiscal year.
      
Total Shareholder Return Amount $ 250 172 172 130
Peer Group Total Shareholder Return Amount 220 165 192 167
Net Income (Loss) $ 280,000,000 $ 254,000,000 $ 438,000,000 $ 313,000,000
Company Selected Measure Amount 1,914 1,809 2,270 1,525
PEO Name Scott Beiser      
Additional 402(v) Disclosure Amounts reported in this column represent (i) the total compensation reported in the SCT for the applicable year in the case of the PEO and (ii) the average of the total compensation reported in the SCT for the applicable year for our other Named Executive Officers excluding the PEO.      
Measure:: 1        
Pay vs Performance Disclosure        
Name evenue      
PEO | Equity Awards Granted During the Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (1,050,000) $ (1,137,500) $ (1,776,250) $ (1,338,000)
PEO | Equity Awards Granted During the Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,050,000 1,137,500 1,776,250 1,338,000
PEO | Equity Awards Granted in Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,658,694 53,895 759,002 463,549
PEO | Equity Awards Granted in Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 27,931 (50,253) 129,556 249,118
Non-PEO NEO | Equity Awards Granted During the Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (591,063) (722,313) (1,730,750) (1,339,875)
Non-PEO NEO | Equity Awards Granted During the Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 591,063 722,313 1,730,750 1,339,875
Non-PEO NEO | Equity Awards Granted in Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,405,485 53,068 675,990 405,259
Non-PEO NEO | Equity Awards Granted in Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 25,656 $ (45,690) $ 107,679 $ 179,825