{"url_path":"/sec/hlne/10-k/2026/item-5","section_key":"item-5","section_title":"Item 5 Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-05-21","source_url":"https://www.sec.gov/Archives/edgar/data/1433642/0001433642-26-000019-index.html","accession_number":"0001433642-26-000019","cik":"0001433642","ticker":"HLNE","issuer_name":"Hamilton Lane INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1433642/0001433642-26-000019-index.html","primary_entity_key":"0001433642","primary_entity_name":"Hamilton Lane INC"},"word_count":886,"has_tables":true,"body_markdown":"Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities\n\nShares of our Class A common stock trade on the Nasdaq Global Select Market under the symbol “HLNE”.\n\nThere is no established public trading market for our Class B common stock. Class B common stock may not be transferred independently of the corresponding Class B units, which are subject to significant restrictions on transfer as set forth in the HLA Operating Agreement. Holders of Class B common stock are entitled to receive only the par value ($0.001) of the Class B common stock upon exchange of the corresponding Class B unit pursuant to the exchange agreement.\n\nHolders of Record\n\nAs of May 19, 2026, there were five stockholders of record of our Class A common stock. The number of record holders does not include persons who held shares of our Class A common stock in nominee or “street name” accounts through brokers. As of May 19, 2026, there were 26 stockholders of record of our Class B common stock.\n\nDividend Policy\n\nWe declared a quarterly dividend of $0.54 per share of Class A common stock to record holders in each quarter of fiscal 2026. On May 21, 2026, we declared a quarterly dividend of $0.60 per share of Class A common stock to record holders at the close of business on June 18, 2026. The payment date will be July 7, 2026. We do not pay dividends on our Class B common stock.\n\nThe declaration and payment by us of any future dividends to holders of our Class A common stock is at the sole discretion of our board of directors. Our board intends to cause us to continue to pay a comparable cash dividend on a quarterly basis. Subject to funds being legally available, we intend to cause HLA to make pro rata distributions to its members, including us, in an amount at least sufficient to allow us to pay all applicable taxes, to make payments under the tax receivable agreement, and to pay our corporate and other overhead expenses, including dividend payments to our stockholders.\n\n80\n\nStock Performance Graph\n\nThe following graph and table depict the total return to stockholders from the closing price on March 31, 2021 through March 31, 2026, relative to the performance of the S&P 500 Index and the Dow Jones U.S. Asset Managers Index. The graph and table assume $100 invested on March 31, 2021, and dividends reinvested in the security or index.\n\nThe performance graph and table are not intended to be indicative of future performance. The performance graph and table shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any of the Company’s filings under the Securities Act or the Exchange Act.\n\n3/31/213/31/223/31/233/31/243/31/253/31/26\n\nHamilton Lane Incorporated$100.00 $88.69 $86.93 $135.02 $178.55 $117.02 \n\nS&P 500100.00 115.63 106.67 138.53 149.08 172.23 \n\nDow Jones US Asset Managers Index100.00 106.70 93.61 120.24 132.05 127.88 \n\n81\n\nIssuer Purchases of Equity Securities\n\nThe following table provides information about our repurchase activity with respect to shares of our Class A common stock for the quarter ended March 31, 2026:\n\nPeriodTotal\nNumber of\nShares\nPurchasedAverage Price\nPaid per\nShare\nTotal Number of\n\nShares\n\nPurchased as\n\nPart of Publicly\n\nAnnounced\n\nPlans or\n\nPrograms(2)\n\nMaximum Approximate\n\nDollar Value of\n\nShares\n\nthat May Yet Be\n\nPurchased Under the\n\nPlans or Programs(2)\n\nJanuary 1-31, 2026\n— $— — $50,000,000 \n\nFebruary 1-28, 2026\n92,950 $107.56 92,950 $40,000,000 \n\nMarch 1-31, 2026(1)\n144,958 $94.90 106,050 $30,000,000 \n\nTotal237,908 199,000 $30,000,000 \n\n(1) Total shares purchased in March 2026 includes 38,908 shares of Class A common stock tendered by employees as payment of taxes withheld on the vesting of restricted stock granted under the Amended and Restated Hamilton Lane Incorporated 2017 Equity Incentive Plan (the “2017 Equity Plan”).\n\n(2) On November 6, 2018, we announced that our board of directors authorized a program to repurchase, in the aggregate, up to 6% of the outstanding shares of our Class A common stock as of the date of the authorization, not to exceed $50 million (the “Stock Repurchase Program”). Our board of directors re-approved the Stock Repurchase Program in December 2024. The authorization provides us the flexibility to repurchase shares in the open market or in privately negotiated transactions from time to time, based on market conditions and other factors, and expires 12 months after the date of the first acquisition under the authorization, which occurred on February 20, 2026. During the three months ended March 31, 2026, we repurchased 199,000 shares of our Class A common stock under the Stock Repurchase Program at a weighted-average price of $100.43 per share, for an aggregate purchase price of approximately $20.0 million under the Stock Repurchase Program. On May 21, 2026, we announced that our board of directors had approved an increase in the authorization under the Stock Repurchase Program to permit us to purchase up to $100 million of our Class A common stock, net of amounts already repurchased under the pre-existing authorization, with no share count or duration limitations. As of May 21, 2026, the total repurchase capacity available under the Stock Repurchase Program authorization was approximately $80.0 million."}