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STOCKHOLDERS' EQUITY
 6 Months Ended
Sep. 30, 2022
Equity [Abstract]  
STOCKHOLDERS' EQUITY Stockholders' Equity
There are two classes of authorized HL, Inc. common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion rights. Each share of Class A common stock is entitled to one vote per share, and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock may be converted into one share of Class A common stock at the option of its holder and will be automatically converted into one share of Class A common stock upon transfer thereof, subject to certain exceptions.
Class A Common Stock

During the three months ended September 30, 2022 and 2021, no shares were issued to non-employee directors and 231,367 and 384,632 shares were converted from Class B to Class A, respectively. During the six months ended September 30, 2022 and 2021, 6,739 and 6,512 shares were issued to non-employee directors, respectively, and 497,859 and 1,103,085 shares were converted from Class B to Class A, respectively.

As of September 30, 2022, there were 49,722,549 Class A shares held by the public and 58,326 Class A shares held by non-employee directors. As of September 30, 2021, there were 50,872,848 Class A shares held by the public and 54,157 Class A shares held by non-employee directors.

Class B Common Stock

As of September 30, 2022 and 2021, there were 18,874,122 and 17,348,305 of Class B shares held by the HL Voting Trust, respectively.

Dividends

Previously declared dividends related to unvested shares of $12,003 and $6,480 were unpaid as of September 30, 2022 and 2021, respectively.

Stock Subscriptions Receivable

Employees of the Company periodically issued notes receivable to the Company documenting loans made by the Company to such employees for the purchase of restricted shares of the Company.
Share Repurchases

In April 2022, the board of directors authorized an increase to the existing July 2021 share repurchase program, which provides for share repurchases of a new aggregate amount of up to $500.0 million of the Company's Class A common stock and Class B common stock.

During the three months ended September 30, 2022 and 2021, the Company repurchased 9,731 and 490 shares, respectively, of Class B common stock, to satisfy $70 and an immaterial amount of required withholding taxes in connection with the vesting of restricted awards, respectively. During the three months ended September 30, 2022, the Company repurchased 100,257 shares of its outstanding Class A common stock at a weighted average price of $81.74 per share, excluding commissions, for an aggregate purchase price of $8,195. During the three months ended September 30, 2021, the Company repurchased an additional 548,896 shares of its outstanding Class A common stock at a weighted average price of $82.78 per share, excluding commissions, for an aggregate purchase price of $45,437.

During the six months ended September 30, 2022 and 2021, the Company repurchased 506,462 and 455,402 shares, respectively, of Class B common stock, to satisfy $42,191 and $33,700 of required withholding taxes in connection with the vesting of restricted awards, respectively. During the six months ended September 30, 2022, the Company repurchased 577,287 shares of its outstanding Class A common stock at a weighted average price of $84.72 per share, excluding commissions, for an aggregate purchase price of $48,905. During the six months ended September 30, 2021, the Company repurchased an additional 1,428,034 shares of its outstanding Class A common stock at a weighted average price of $79.06 per share, excluding commissions, for an aggregate purchase price of $112,904.