<SEC-DOCUMENT>0001302215-23-000024.txt : 20230517
<SEC-HEADER>0001302215-23-000024.hdr.sgml : 20230517
<ACCEPTANCE-DATETIME>20230517164006
ACCESSION NUMBER:		0001302215-23-000024
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230515
FILED AS OF DATE:		20230517
DATE AS OF CHANGE:		20230517

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PREISER DAVID A
		CENTRAL INDEX KEY:			0001122670
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37537
		FILM NUMBER:		23932344

	BUSINESS ADDRESS:	
		STREET 1:		685 THIRD AVENUE
		STREET 2:		15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2125823015

ISSUER:		

	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

	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>4
<SEQUENCE>1
<FILENAME>wf-form4_168435597424167.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0407</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-05-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001302215</issuerCik>
        <issuerName>HOULIHAN LOKEY, INC.</issuerName>
        <issuerTradingSymbol>HLI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001122670</rptOwnerCik>
            <rptOwnerName>PREISER DAVID A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O HOULIHAN LOKEY, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>10250 CONSTELLATION BLVD., 5TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>LOS ANGELES</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90067</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CO-PRESIDENT</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>CLASS B COMMON STOCK</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2023-05-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4467</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>89.04</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>CLASS A COMMON STOCK</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4467.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>529049</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>BY HL VOTING TRUST</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Class B Common Stock is convertible into Class A Common Stock on a one-for-one basis at the option of the holder, upon any transfer, and automatically upon the Final Conversion Date (as defined in the Issuer's Registration Statement on Form S-1, as amended (No. 333-205610)) concerning the Issuer's initial public offering.  The Class B Common Stock has no expiration date.</footnote>
        <footnote id="F2">Represents shares withheld to cover taxes upon the vesting of existing awards under the Issuer's 2016 Incentive Award Plan.</footnote>
        <footnote id="F3">The shares are held by the HL Voting Trust (the &quot;Voting Trust&quot;). The reporting person retains investment control and dispositive power over the shares deposited into the Voting Trust.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ J. Lindsey Alley, Attorney-in-Fact for David A. Preiser</signatureName>
        <signatureDate>2023-05-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
