<SEC-DOCUMENT>0001193125-22-129098.txt : 20220429
<SEC-HEADER>0001193125-22-129098.hdr.sgml : 20220429
<ACCEPTANCE-DATETIME>20220428213320
ACCESSION NUMBER:		0001193125-22-129098
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		7
FILED AS OF DATE:		20220429
DATE AS OF CHANGE:		20220428
EFFECTIVENESS DATE:		20220429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HOULIHAN LOKEY, INC.
		CENTRAL INDEX KEY:			0001302215
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				952770395
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-264558
		FILM NUMBER:		22869694

	BUSINESS ADDRESS:	
		STREET 1:		HOULIHAN LOKEY, INC.
		STREET 2:		10250 CONSTELLATION BLVD., 5TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		310.553.8871

	MAIL ADDRESS:	
		STREET 1:		HOULIHAN LOKEY, INC.
		STREET 2:		10250 CONSTELLATION BLVD., 5TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HOULIHAN LOKEY HOWARD & ZUKIN INC
		DATE OF NAME CHANGE:	20040902
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>d305343ds8.htm
<DESCRIPTION>S-8
<TEXT>
<HTML><HEAD>
<TITLE>S-8</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>As filed with the United States Securities and Exchange Commission on April&nbsp;28, 2022
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration
<FONT STYLE="white-space:nowrap">No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> </B></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES
AND EXCHANGE COMMISSION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT STYLE="white-space:nowrap">S-8</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>REGISTRATION STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>UNDER </I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>THE
SECURITIES ACT OF 1933 </I></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>HOULIHAN LOKEY, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">95-2770395</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(State or other jurisdiction of<BR>incorporation or organization)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(I.R.S. Employer<BR>Identification No.)</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>10250 Constellation Blvd., 5th Floor</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Los Angeles, CA</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>90067</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2016 INCENTIVE AWARD PLAN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Full title of the plan) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Christopher
M. Crain, Esq. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>General Counsel </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>10250 Constellation Blvd., 5th Floor </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Los Angeles, CA 90067 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name and address of agent for service) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(310) <FONT STYLE="white-space:nowrap">788-5200</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Telephone number, including area code, of agent for service) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Copies to: </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Steven B. Stokdyk, Esq. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Brent T. Epstein, Esq. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Latham&nbsp;&amp; Watkins LLP </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>10250 Constellation Blvd., Suite 1100 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Los Angeles, CA 90067 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(424) <FONT STYLE="white-space:nowrap">653-5500</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether
the Registrant is a large accelerated filer, an accelerated filer, a <FONT STYLE="white-space:nowrap">non-accelerated</FONT> filer, a smaller reporting company, or an emerging growth company. See the definitions of &#147;large accelerated
filer,&#148; &#147;accelerated filer,&#148; &#147;smaller reporting company,&#148; and &#147;emerging growth company&#148; in Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Exchange Act. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="17%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="58%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="20%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Large&nbsp;accelerated&nbsp;filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Accelerated filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"><FONT STYLE="white-space:nowrap">Non-accelerated</FONT> filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Smaller&nbsp;reporting&nbsp;company</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Emerging growth company</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;7(a)(2)(B) of the Securities Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXPLANATORY NOTE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Registrant is filing the Registration Statement for the purpose of registering an additional 10,000,000 shares of Class&nbsp;A Common
Stock and 10,000,000 shares of Class&nbsp;B Common Stock to be issued pursuant to the 2016 Plan (resulting from automatic annual increases pursuant to the &#147;evergreen&#148; provision of the 2016 Plan, as reduced by the Registrant&#146;s board of
directors in its discretion pursuant to the 2016 Plan). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">These shares being registered pursuant to this Registration Statement are the
same class as other securities for which an earlier Registration Statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-206337)</FONT> (the &#147;Prior Registration Statement&#148;) was
filed with the Securities and Exchange Commission (the &#147;Commission&#148;) on August&nbsp;12, 2015 relating to offers and sales of 9,810,898 shares of Class&nbsp;A Common Stock and 9,810,898 shares of Class&nbsp;B Common Stock under the 2016
Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with General Instruction E of Form <FONT STYLE="white-space:nowrap">S-8,</FONT> this Registration Statement
incorporates by reference and makes a part hereof the contents of the Prior Registration Statement to the extent not modified or superseded hereby or by any subsequently filed document incorporated by reference herein or therein. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART II </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;3. Incorporation of Documents by Reference. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following documents, which have been filed by the Company with the Commission pursuant to the Securities Exchange Act of 1934, as amended
(the &#147;<U>Exchange Act</U>&#148;), are incorporated by reference in, and shall be deemed to be a part of, this Registration Statement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Company&#146;s Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1302215/000130221521000027/hli-20210331.htm">Form
 <FONT STYLE="white-space:nowrap">10-K</FONT></A> for the fiscal year ended March&nbsp;31, 2021; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the Company&#146;s
Quarterly Reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the fiscal quarters ended <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1302215/000130221521000078/hli-20210630.htm">June&nbsp;30,
2021</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1302215/000130221521000087/hli-20210930.htm">September&nbsp;
30, 2021</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1302215/000130221522000007/hli-20211231.htm">December&nbsp;31, 2021</A>; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the Company&#146;s Current Reports on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed with the Commission on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1302215/000130221521000075/hli-20210803.htm">August&nbsp;3,
 2021</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1302215/000119312521279421/d166387d8k.htm">September&nbsp;22, 2021</A>; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) the Company&#146;s Proxy Statement for the Registrant&#146;s 2021 Annual Meeting of Stockholders, on <A HREF="http://www.sec.gov/Archives/edgar/data/1302215/000130221521000072/hli2021-def14a.htm">Schedule
 14A</A>, filed with the Commission on July&nbsp;28, 2021; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) the description of the Class&nbsp;A Common Stock
contained in the Company&#146;s Registration Statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1302215/000110465915058088/a15-9360_98a12b.htm">Form <FONT STYLE="white-space:nowrap">8-A</FONT></A> filed with the Commission on
August&nbsp;10, 2015 (File <FONT STYLE="white-space:nowrap">No.&nbsp;001-37537),</FONT> together with any amendment thereto filed with the Commission for the purpose of updating such description. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All reports and other documents filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act
after the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered pursuant to this Registration Statement have been sold or which deregisters all securities then remaining unsold, shall be deemed
to be incorporated by reference herein and to be a part hereof from the date of filing of such documents or reports. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this
Registration Statement, any document or any statement contained in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded to the extent that a subsequently filed document or a statement
contained therein, or in any other subsequently filed document which also is or is deemed to be incorporated by reference, modifies or supersedes such document or such statement in such document. Any statement so modified or superseded shall not be
deemed, except as so modified or superseded, to constitute a part of this Registration Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;6. Indemnification of Directors and
Officers. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subsection (a)&nbsp;of Section&nbsp;145 of the General Corporation Law of the State of Delaware (the &#147;DGCL&#148;),
empowers a corporation to indemnify any person who was or is a party or who is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an
action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a
</P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&#146; fees), judgments, fines and amounts
paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of
the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the person&#146;s conduct was unlawful. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subsection (b)&nbsp;of Section&nbsp;145 empowers a corporation to indemnify any person who was or is a party or is threatened to be made a
party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person acted in any of the capacities set forth above, against expenses (including
attorneys&#146; fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the
best interests of the corporation, except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of
Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity
for such expenses which the Court of Chancery or such other court shall deem proper. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;145 further provides that to the extent
a director or officer of a corporation has been successful on the merits or otherwise in the defense of any action, suit or proceeding referred to in subsections (a)&nbsp;and (b)&nbsp;of Section&nbsp;145, or in defense of any claim, issue or matter
therein, such person shall be indemnified against expenses (including attorneys&#146; fees) actually and reasonably incurred by such person in connection therewith; that indemnification provided for by Section&nbsp;145 shall not be deemed exclusive
of any other rights to which the indemnified party may be entitled; and the indemnification provided for by Section&nbsp;145 shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director,
officer, employee or agent and shall inure to the benefit of such person&#146;s heirs, executors and administrators. Section&nbsp;145 also empowers the corporation to purchase and maintain insurance on behalf of any person who is or was a director,
officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability
asserted against such person and incurred by such person in any such capacity, or arising out of his status as such, whether or not the corporation would have the power to indemnify such person against such liabilities under Section&nbsp;145. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Article Tenth of the Company&#146;s amended and restated certificate of incorporation provides for indemnification by the Company of members
of the Company&#146;s board of directors, members of committees of the Company&#146;s board of directors and of the Company&#146;s other committees, and the Company&#146;s executive officers, and allows the Company to provide indemnification for the
Company&#146;s other officers and the Company&#146;s agents and employees, and those serving another corporation, partnership, joint venture, trust or other enterprise at the Company&#146;s request, in each case to the maximum extent permitted by
the DGCL. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has also entered into separate indemnification agreements with each of the Company&#146;s directors which are in
addition to the Company&#146;s indemnification obligations under the Company&#146;s amended and restated certificate of incorporation. These indemnification agreements may require us, among other things, to indemnify the Company&#146;s directors
against expenses and liabilities that may arise by reason of their status as directors, subject to certain exceptions. These indemnification agreements may also require the Company to advance any expenses incurred by the Company&#146;s directors as
a result of any proceeding against them as to which they could be indemnified and to obtain and maintain directors&#146; and officers&#146; insurance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company maintains standard policies of insurance under which coverage is provided (a)&nbsp;to the Company&#146;s directors and officers
against loss arising from claims made by reason of breach of duty or other wrongful act and (b)&nbsp;to the Company with respect to payments which may be made by the Company to such officers and directors pursuant to the above indemnification
provision or otherwise as a matter of law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;102(b)(7) of the DGCL provides that a corporation&#146;s certificate of
incorporation may contain a provision eliminating or limiting the personal liability of a director to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director;<I>&nbsp;provided</I>&nbsp;that such provision
shall not eliminate or limit the liability of a director (i)&nbsp;for any breach of the director&#146;s duty of loyalty to the corporation or its stockholders, (ii)&nbsp;for acts or omissions not in good faith or which involve intentional misconduct
or a knowing violation of law, (iii)&nbsp;under Section&nbsp;174 of the DGCL, or (iv)&nbsp;for any transaction from which the director derived an improper personal benefit. The Company&#146;s amended and restated certificate provides for such
limitation of liability. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any underwriting agreement or distribution agreement that the registrant enters into with
any underwriters or agents involved in the offering or sale of any securities registered hereby may require such underwriters or dealers to indemnify the registrant, some or all of its directors and officers and its controlling persons, if any, for
specified liabilities, which may include liabilities under the Securities Act of 1933, as amended. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8. Exhibits. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following documents are filed as exhibits to this Registration Statement: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Description of
Exhibit</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1302215/000110465915061230/a15-18308_1ex3d1.htm">Amended and Restated Certificate of Incorporation of Houlihan Lokey, Inc. (incorporated herein by reference to Exhibit 3.1 to the Company&#146;s
 Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed on August&nbsp;21, 2015). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>4.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1302215/000110465915061230/a15-18308_1ex3d2.htm">Amended and Restated Bylaws of Houlihan Lokey, Inc. (incorporated herein by reference to Exhibit 3.2 to the Company&#146;s Current Report
 on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed on August&nbsp;21, 2015). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>5.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d305343dex51.htm">Opinion of Latham&nbsp;&amp; Watkins LLP. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d305343dex231.htm">Consent of KPMG LLP. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.2*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d305343dex51.htm">Consent of Latham&nbsp;&amp; Watkins LLP (included in Exhibit 5.1). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>24.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="#sig">Powers of Attorney (included on the signature page of the Registration Statement). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1#</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1302215/000130221517000048/hli-8k091917ex101.htm">Amended and Restated Houlihan Lokey, Inc. 2016 Incentive Award Plan.(incorporated herein by reference to Exhibit 10.1 to the Company&#146;s
 Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed on September&nbsp;25, 2017). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.2#</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1302215/000119312517315524/d466877dex101.htm">Amendment to Amended and Restated Houlihan Lokey, Inc. 2016 Incentive Award Plan .(incorporated herein by reference to Exhibit 10.1 to the Company&#146;s
Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed on October&nbsp;20, 2017). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.3#</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1302215/000091205715000220/a2225580zex-10_13.htm">Form of Restricted Stock Award Agreement under the Houlihan Lokey, Inc. 2016 Incentive Award Plan (incorporated herein by reference to Exhibit
10.13 to the Company&#146;s Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> (Registration <FONT STYLE="white-space:nowrap">No.&nbsp;333-206337)</FONT> filed on August&nbsp;3, 2015) </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.4#</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1302215/000091205715000220/a2225580zex-10_14.htm">Form of Restricted Stock Unit Award Agreement under the Houlihan Lokey, Inc. 2016 Incentive Annual Plan (incorporated herein by reference
 to Exhibit 10.14 to the Company&#146;s Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> (Registration <FONT STYLE="white-space:nowrap">No.&nbsp;333-206337)</FONT> filed on August&nbsp;3, 2015) </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>107*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d305343dexfilingfees.htm">Filing Fee Table </A></TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Filed herewith. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">#</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Indicates management contract or compensatory plan. </P></TD></TR></TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable grounds to believe that it meets all of
the requirements for filing on Form <FONT STYLE="white-space:nowrap">S-8</FONT> and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Los Angeles, California on the 28th day of
April, 2022. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>HOULIHAN LOKEY INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Scott L. Beiser</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Scott L. Beiser</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><I>Chief Executive Officer</I></TD></TR>
</TABLE></DIV>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="sig"></A>POWER OF ATTORNEY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>KNOW ALL PERSONS BY THESE PRESENTS</I>, that each person whose signature appears below hereby constitutes and appoints J. Lindsey Alley and
Christopher M. Crain, and each of them, as his or her true and lawful <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorney-in-fact</FONT></FONT> and agent with full power of substitution, for him or her in any and all
capacities, to sign any and all amendments to this registration statement (including post-effective amendments or any abbreviated registration statement and any amendments thereto filed pursuant to Rule 462(b) under the Securities Act of 1933, as
amended, increasing the number of securities for which registration is sought), and to file the same, with all exhibits thereto and other documents in connection therewith, with the SEC, granting unto said <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">attorney-in-fact,</FONT></FONT> proxy, and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as
he or she might or could do in person, hereby ratifying and confirming all that said <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorney-in-fact,</FONT></FONT> proxy and agent, or his substitute, may lawfully do or cause to be
done by virtue hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following
persons in the capacities and on the dates indicated. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="33%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="20%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Signature</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Title</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Date</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Scott L. Beiser</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Chief Executive Officer and Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">Scott L. Beiser</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">(principal executive officer)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ J. Lindsey Alley</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Chief Financial Officer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">J. Lindsey Alley</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">(principal financial and accounting officer)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Irwin N. Gold</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Executive Chairman and Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">Irwin N. Gold</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Scott J. Adelson</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Co-President</FONT> and Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">Scott J. Adelson</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ David A. Preiser</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Co-President</FONT> and Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">David A. Preiser</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Ekpedeme M. Bassey</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">Ekpedeme M. Bassey</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Jacqueline B. Kosecoff</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">Jacqueline B. Kosecoff</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Robert A. Schriesheim</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">Robert A. Schriesheim</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Cyrus D. Walker</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">Cyrus D. Walker</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Paul A. Zuber</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">Paul A. Zuber</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Gillian B. Zucker</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center">Gillian B. Zucker</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>d305343dex51.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-5.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 5.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="58%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="28%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10250 Constellation Blvd., Suite 1100</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Los Angeles, California 90067</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel: +1.424.653.5500 Fax:
+1.424.653.5501</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">www.lw.com</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">


<IMG SRC="g305343img_page1.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">FIRM / AFFILIATE OFFICES</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="middle">April&nbsp;28,&nbsp;2022</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Austin</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Beijing</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Boston</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Brussels</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Century City</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chicago</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dubai</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">D&#252;sseldorf</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Frankfurt</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hamburg</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hong Kong</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Houston</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">London</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Los Angeles</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Madrid</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Milan</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moscow</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Munich</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Orange county</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paris</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Riyadh</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">San Diego</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">San Francisco</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Seoul</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Shanghai</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Silicon Valley</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Singapore</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel Aviv</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tokyo</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Washington, D.C.</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Houlihan Lokey, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">10250
Constellation Blvd., 5th Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Los Angeles, CA 90067 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Registration Statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> with respect to 10,000,000 shares
of Class</U><U></U><U> A common stock, par value $0.001 per share, and 10,000,000 Shares of Class</U><U></U><U> B common stock, par value $0.001 per share, of Houlihan Lokey, Inc.</U> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To the addressees set forth above: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have
acted as special counsel to Houlihan Lokey, Inc., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), in connection with the preparation and filing by the Company on the date hereof with the Securities and Exchange Commission (the
&#147;<B><I>Commission</I></B>&#148;) of a Registration Statement (the &#147;<B><I>Registration Statement</I></B>&#148;) on Form <FONT STYLE="white-space:nowrap">S-8</FONT> under the Securities Act of 1933, as amended (the
&#147;<B><I>Act</I></B>&#148;), relating to the issuance of (i) up to 10,000,000 shares of Class A common stock of the Company, par value $0.001 per share (the &#147;<B><I>Class</I></B><B><I></I></B><B><I> A Common Stock</I></B>&#148;), and (ii) up
to 10,000,000 shares of Class B common stock of the Company, par value $0.001 per share (the &#147;<B><I>Class</I></B><B><I></I></B><B><I> B Common Stock</I></B>&#148; and, together with the Class A Common Stock, the
&#147;<B><I>Shares</I></B>&#148;), which may be issued pursuant to the Company&#146;s Amended and Restated 2016 Incentive Award Plan (the &#147;<B><I>2016 Plan</I></B>&#148;). This opinion is being furnished in connection with the requirements of
Item 601(b)(5) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or prospectuses forming a part thereof, other than
as expressly stated herein with respect to the issuance of the Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As such counsel, we have examined such matters of fact and
questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon the foregoing and upon certificates and other assurances of officers of the Company and others as to factual matters without
having independently verified such factual matters. We are opining herein only as to the General Corporation Law of the State of Delaware, as amended (the &#147;<B><I>DGCL</I></B>&#148;), and we express no opinion with respect to any other laws.
</P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>April&nbsp;28, 2022 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B> Page
 2
 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g305343img_page2.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the foregoing and the other matters set forth herein, it is our opinion that as of
the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the recipients thereof, and have been issued by the Company for legal consideration in excess of
par value in the circumstances contemplated by the 2016 Plan, assuming in each case that the individual issuances, grants or awards under the 2016 Plan are duly authorized by all necessary corporate action and duly issued, granted or awarded and
exercised in accordance with the requirements of law and the 2016 Plan (and the agreements duly adopted thereunder and in accordance therewith), the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the
Company, and such Shares will be validly issued, fully paid and <FONT STYLE="white-space:nowrap">non-assessable.</FONT> In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements
regarding uncertificated shares provided in the DGCL. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This opinion is for your benefit in connection with the Registration Statement and
may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit
that we are in the category of persons whose consent is required under Section&nbsp;7 of the Act or the rules and regulations of the Commission thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Sincerely, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">/s/ Latham &amp; Watkins LLP </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>d305343dex231.htm
<DESCRIPTION>EX-23.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-23.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 23.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g305343g95w20.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">KPMG LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Suite 1500 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">550 South Hope
Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Los Angeles, CA 90071-2629 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Consent of Independent Registered Public Accounting Firm </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We consent to the use of our report dated May&nbsp;21, 2021, with respect to the consolidated financial statements of Houlihan Lokey Inc., and the
effectiveness of internal control over financial reporting, incorporated herein by reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ KPMG LLP </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Los Angeles, California </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April&nbsp;28, 2022 </P>
<P STYLE="font-size:120pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:120pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:120pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:70pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">KPMG LLP, a Delaware limited liability partnership and a member firm of the </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">KPMG global organization of independent member firms affiliated with KPMG </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">International Limited, a private English company limited by guarantee. </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>4
<FILENAME>d305343dexfilingfees.htm
<DESCRIPTION>EX-FILING FEES
<TEXT>
<HTML><HEAD>
<TITLE>EX-FILING FEES</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 107 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><FONT STYLE="white-space:nowrap">EX-FILING</FONT> FEES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form <FONT STYLE="white-space:nowrap">S-8</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Form Type) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Houlihan Lokey, Inc.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Exact Name of Registrant as Specified in its Charter) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Table 1: Newly Registered Securities </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="17%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:7pt">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Security&nbsp;Type</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Security</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Class</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Title</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Fee</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Calculation</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Rule</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Amount</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Registered<SUP STYLE="font-size:85%; vertical-align:top">(1)(2)</SUP></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Proposed</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Maximum</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Offering</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Price&nbsp;Per</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Unit</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Maximum</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Aggregate</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Offering</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Price</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Fee</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Rate</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Amount&nbsp;of</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Registration</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman" ALIGN="center">Fee</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Equity</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Class&nbsp;A Common Stock, $0.001 par value</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Other<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10,000,000</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$84.85<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$848,500,000.00</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">0.0000927</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$78,655.95</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Equity</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Class&nbsp;B Common Stock, $0.001 par value</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Other<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10,000,000</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$84.85<SUP STYLE="font-size:85%; vertical-align:top">(3)</SUP></P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$848,500,000.00</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">0.0000927</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$78,655.95</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Total Offering Amounts</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1,697,000,000.00</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$157,311.90</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Total Fees Previously
Paid</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">&#151;</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Total Fee Offsets</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:2pt"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">&#151;</P>
<P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Net Fee Due</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$157,311.90</P> <P STYLE="font-size:1pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the &#147;<U>Securities
Act</U>&#148;), this Registration Statement shall also cover any additional shares of Registrant&#146;s Class&nbsp;A common stock, par value $0.001 per share (&#147;<U>Class</U><U></U><U>&nbsp;A Common Stock</U>&#148;), and the Registrant&#146;s
Class&nbsp;B common stock, par value $0.001 per share (&#147;<U>Class</U><U></U><U>&nbsp;B Common Stock</U>&#148;), that become issuable under the Amended and Restated Houlihan Lokey, Inc. 2016 Incentive Award Plan (the &#147;<U>2016 Plan</U>&#148;)
by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding shares of Class&nbsp;A Common Stock or Class&nbsp;B Common Stock.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The shares authorized for issuance under the 2016 Plan can be either in the form of Class&nbsp;A Common Stock
or Class&nbsp;B Common Stock (that is convertible to Class&nbsp;A Common Stock on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">one-for-one</FONT></FONT> basis), as determined by the Registrant. As a result, we have registered
the maximum number of shares of Class&nbsp;A Common Stock and the maximum number of Class&nbsp;B Common Stock that could be issued. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">For purposes of computing the registration fee only. Pursuant to Rule 457(h) of the Securities Act, the
Proposed Maximum Offering Price Per Share is based upon the average of the high and low prices of Class&nbsp;A Common Stock, as reported on the New York Stock Exchange on April 25, 2022, which was $84.85 per share. </P></TD></TR></TABLE>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g305343g95w20.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g305343g95w20.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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,50 !P .U>,>N?__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>g305343img_page1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g305343img_page1.jpg
M_]C_X  02D9)1@ ! 0$ R #(  #_X0 B17AI9@  34T *@    @  0$2  ,
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M?[29_P""7W[$_P#P4U_9TAFCT>3P?XE>;P1 %D\TZ;XF,=G%%!N,2AH;0P3
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M:=>:UX!\%:-X<U"?3Y'DM)[BSL8;>5XF=49HR\;%2RJ2",J#P/4@H QCCTH
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M$XOAO\'_ !G?^'M4\2^#HM06\NM#N);BPF^T:E=W2&-Y8HG.(YT!W(N&# 9
M#'Y*^-/_  3]_;__ &[/A-JGP>^-/Q?_ &<]!^%_B/[/;:[JO@G2=2?Q)?6\
M$\4AB"31Q01^;Y8WX8+CY0"C,#^J@&*0HI/W1^5 '&>#?V?_  CX*^$?A_P+
M!H.FW7A3PKI]II>EZ?>PB\CMK>U@6"%?WNXLRQJ%W'GKZG.DGP?\)1WFFW"^
M%_#JW&CHD=A*--AWV*HQ=1$=N4"L2P"XP23UKHJ* *^G:3:Z1:16]I:V]K;P
4*$CCAC")&HZ  < #T%6*** /_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>g305343img_page2.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g305343img_page2.jpg
M_]C_X  02D9)1@ ! 0$ R #(  #_X0 B17AI9@  34T *@    @  0$2  ,
M   !  $       #_X@Q824-#7U!23T9)3$4  0$   Q(3&EN;P(0  !M;G1R
M4D="(%A96B 'S@ "  D !@ Q  !A8W-P35-&5     !)14,@<U)'0@
M            ]M8  0    #3+4A0("
M                                 !%C<')T   !4    #-D97-C   !
MA    &QW='!T   !\    !1B:W!T   "!    !1R6%E:   "&    !1G6%E:
M   "+    !1B6%E:   "0    !1D;6YD   "5    '!D;61D   "Q    (AV
M=65D   #3    (9V:65W   #U    "1L=6UI   #^    !1M96%S   $#
M "1T96-H   $,     QR5%)#   $/   " QG5%)#   $/   " QB5%)#   $
M/   " QT97AT     $-O<'ER:6=H=" H8RD@,3DY."!(97=L971T+5!A8VMA
M<F0@0V]M<&%N>0  9&5S8P         2<U)'0B!)14,V,3DV-BTR+C$
M         !)S4D="($E%0S8Q.38V+3(N,0
M                                        6%E:(        /-1  $
M   !%LQ865H@                     %A96B        !OH@  ./4   .0
M6%E:(        &*9  "WA0  &-I865H@        )*    ^$  "VSV1E<V,
M        %DE%0R!H='1P.B\O=W=W+FEE8RYC:               %DE%0R!H
M='1P.B\O=W=W+FEE8RYC:
M                      !D97-C         "Y)14,@-C$Y-C8M,BXQ($1E
M9F%U;'0@4D="(&-O;&]U<B!S<&%C92 M('-21T(              "Y)14,@
M-C$Y-C8M,BXQ($1E9F%U;'0@4D="(&-O;&]U<B!S<&%C92 M('-21T(
M                        9&5S8P         L4F5F97)E;F-E(%9I97=I
M;F<@0V]N9&ET:6]N(&EN($E%0S8Q.38V+3(N,0              +%)E9F5R
M96YC92!6:65W:6YG($-O;F1I=&EO;B!I;B!)14,V,3DV-BTR+C$
M                         '9I97<      !.D_@ 47RX $,\4  /MS  $
M$PL  UR>     5A96B       $P)5@!0    5Q_G;65A<P         !
M                     H\    "<VEG(     !#4E0@8W5R=@        0
M    !0 *  \ %  9 !X (P H "T ,@ W #L 0 !% $H 3P!4 %D 7@!C &@
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M)UUX7<E>&EYL7KU?#U]A7[-@!6!78*I@_&%/8:)A]6))8IQB\&-#8Y=CZV1
M9)1DZ64]99)EYV8]9I)FZ&<]9Y-GZ6@_:)9H[&E#:9II\6I(:I]J]VM/:Z=K
M_VQ7;*]M"&U@;;EN$FYK;L1O'F]X;]%P*W"&<.!Q.G&5<?!R2W*F<P%S77.X
M=!1T<'3,=2AUA77A=CYVFW;X=U9WLW@1>&YXS'DJ>8EYYWI&>J5[!'MC>\)\
M(7R!?.%]07VA?@%^8G["?R-_A'_E@$> J($*@6N!S8(P@I*"](-7@[J$'82
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MX-Z'#X>\(W7B%K6232[6&*"*([+>"&*29%@3;*Z,ZDL003Q[_&GE1JO7:,4
M.HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** /
"_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
