Houlihan Lokey vs Rothschild & Co

8-K Financial Filing Analysis for Houlihan Lokey (2026-09-22)

Houlihan Lokey reported several key governance and leadership actions following its annual stockholder meeting on September 16, 2026. Stockholders approved the Second Amended and Restated 2016 Incentive Award Plan, which sets the reserved share pool at 12 million shares, reinstates an annual evergreen replenishment at a reduced 1% rate (down from 6%), and eliminates the fixed plan expiration date. Additionally, the company announced the election of Thomas Reichert to the Board as an independent Class I director effective October 1, 2026, receiving a $120,000 initial restricted stock grant. In executive leadership changes, General Counsel Christopher M. Crain retired to transition into a Corporate Senior Advisor role, and Prabha Sipi Bhandari was appointed as Chief Legal Officer and Secretary.

• Stockholders approved the Second Amended and Restated 2016 Incentive Award Plan, establishing a 12 million share reserve and resetting annual evergreen dilution increases to 1% (down from 6%).
• Thomas Reichert was elected as an independent Class I director effective October 1, 2026, receiving a $120,000 restricted stock grant vesting over three years.
• Christopher M. Crain retired as General Counsel to become Corporate Senior Advisor, with Prabha Sipi Bhandari appointed as Chief Legal Officer and Secretary on September 16, 2026.

Ad Tech's Public Market Woes: Investment Banker Explains Small-Cap Problem

At ExchangeWire's ATS London conference, investment banker Josh Wepman of Houlihan Lokey argued that the struggles of publicly-traded ad tech companies stem from their small market capitalizations, not performance. Most companies are too small to attract significant investment from index funds and mutual funds, with 'it's hard to be a $7 billion company' serving as a key quote. Deal activity has picked up to around $14 billion so far in 2026, but transactions are fewer and larger. Nick Macshane of Progress Partners noted extreme volatility in ad tech stocks, with some companies swinging 60% up or down, suggesting many should not be public. The article highlights take-private trends, mentioning Criteo's rumored buyout, and companies like DoubleVerify, LiveRamp, and Integral Ad Science moving off public markets. It also notes enterprise interest from Salesforce, Adobe, ServiceNow, Workday, Databricks, Snowflake, and OpenAI.

• Josh Wepman, MD at Houlihan Lokey, says public ad tech companies are too small for index/mutual funds to invest meaningfully.
• Public ad tech stocks have underperformed broader tech indices, with declining multiples through 2025-2026.
• Deal activity reached approximately $14 billion so far in 2026, spread across fewer, larger deals.

Rothschild & Co appoints Pablo Hernandez Schmidt-Tophoff as Head of Energy Services & Decarbonization, North America

Rothschild & Co today announced that Pablo Hernandez Schmidt-Tophoff has joined its Global Advisory business as Managing Director, Head of Houston and Head of Energy Services & Decarbonization, North America.

Rothschild & Co appoints Pablo Hernandez Schmidt-Tophoff as Head of Energy Services & Decarbonization

Rothschild & Co today announced that Pablo Hernandez Schmidt-Tophoff has joined its Global Advisory business as Managing Director, Head of Houston and Head of Energy Services & Decarbonization, North

Entrepreneur Networking Dinner

Rothschild & Co Wealth Management UK recently hosted an intimate networking dinner to encourage the conversations and connections that rarely happen in the day-to-day demands of building a business.