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EMPLOYEE BENEFIT PLANS
 3 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
EMPLOYEE BENEFIT PLANS Employee Benefit Plans
Share-Based Incentive Plans
Awards of restricted shares and restricted stock units ("RSU"s) have been and will be made under the Amended and Restated Houlihan Lokey, Inc. 2016 Incentive Award Plan (the "2016 Incentive Plan"), which became effective in August 2015 and was amended in October 2024. Equity-based incentive awards issued under the 2016 Incentive Plan generally vest over a four-year period.
Excess tax benefits of $14 and $31 were recognized during the three months ended June 30, 2026 and 2025, respectively, as a component of the provision for income taxes.
Activity in equity-classified share awards under the 2016 Incentive Plan during the three months ended June 30, 2026 and 2025 is as follows:
Unvested Share AwardsShares
Weighted Average
Grant Date
Fair Value per Share
Balance, April 1, 20263.0 $128.91 
Granted1.4 151.53 
Vested(1.5)111.84 
Forfeited/Repurchased(0.1)111.72 
Balance, June 30, 20262.8 $148.79 
Balance, April 1, 20253.7 $99.02 
Granted1.1 173.13 
Vested(1.6)91.74 
Forfeited/Repurchased(0.1)100.64 
Balance, June 30, 20253.1 $128.29 

Activity in RSU awards under the 2016 Incentive Plan during the three months ended June 30, 2026 and 2025 is as follows:
Restricted Stock UnitsRSUs
Weighted Average Grant Date Fair Value per RSU
RSUs as of April 1, 20260.4 $120.74 
Issued0.2 151.78 
Vested(0.3)107.33 
Forfeitures— — 
RSUs as of June 30, 20260.3 $151.50 
RSUs as of April 1, 20250.7 $107.39 
Issued0.1 173.14 
Vested(0.4)102.20 
Forfeitures— — 
RSUs as of June 30, 20250.4 $119.86 

Compensation expenses for the Company associated with equity awards granted pursuant to the 2016 Incentive Plan totaled $45 and $42 for the three months ended June 30, 2026 and 2025, respectively.
As of June 30, 2026 and 2025, there was $497 and $436, respectively, of total unrecognized compensation cost related to unvested share awards granted under the 2016 Incentive Plan. These costs will be recognized over a weighted average period of approximately 2.0 years and 2.5 years, as of June 30, 2026 and 2025, respectively.