ORIX CORP — Director's Dealing 2017

Sep 15, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HOULIHAN LOKEY, INC. (HLI)
CIK: 0001302215
Period of Report: 2017-09-12

Reporting Person: ORIX HLHZ Holding LLC (10% Owner)
Reporting Person: ORIX CORP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-09-12	Class A Common Stock	S	500000	$36.1452	Disposed	2500000	Direct
2017-09-13	Class A Common Stock	S	32300	$36.54	Disposed	2467700	Direct
2017-09-14	Class A Common Stock	S	154460	$36.5687	Disposed	2313240	Direct

Footnotes

F1: Reflects a weighted average sale price of $36.1452 per share, at prices ranging from $36.00 to $37.00 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F2: Reflects a weighted average sale price of $36.54 per share, at prices ranging from $36.35 to $36.925 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F3: Reflects a weighted average sale price of $36.5687 per share, at prices ranging from $36.52 to $36.745 per share. The Reporting Person will provide, upon request by
the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each
separate price.

F4: Owned directly by ORIX HLHZ Holding LLC. Also owned indirectly, through subsidiaries, by ORIX Corporation.