Nicole Giannini - Mar 7, 2024 Form 4 Insider Report for Hamilton Lane INC (HLNE)

Role
10%+ Owner
Signature
/s/ Lauren Platko, attorney-in-fact
Stock symbol
HLNE
Transactions as of
Mar 7, 2024
Transactions value $
-$5,400,050
Form type
4
Date filed
3/11/2024, 05:29 PM
Next filing
Feb 14, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HLNE Class B Common Stock Other -$50 -50K -17.32% $0.00* 239K Mar 7, 2024 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HLNE Class B Units Other -$5.4M -50K -17.32% $108.00 239K Mar 7, 2024 Class A Common Stock 50K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person exchanged Class B Units (and corresponding shares of Class B common stock) with the Issuer pursuant to an exchange agreement (the "Exchange Agreement") entered into at the time of and in connection with a reorganization incident to the Issuer's initial public offering. At the Issuer's election, the exchange was settled in cash.
F2 The Class B common stock does not carry economic value beyond the right to receive the par value of such stock upon liquidation, dissolution or exchange of those shares. However, the Class B common stock entitles its holder to ten votes per share on every matter submitted to the Issuer's stockholders for a vote.
F3 Pursuant to the Exchange Agreement, the Class B Units of Hamilton Lane Advisors, L.L.C. ("HLA") are exchangeable, on a one-for-one basis, for shares of Class A common stock or, at the Issuer's election, for cash. Upon exchange of a Class B Unit, the corresponding share of Class B common stock will be redeemed at par value and cancelled. The Class B Units of HLA do not have an expiration date.

Remarks:

The reporting person is a member of a group that beneficially owns more than 10% of the Issuer's Class A common stock.