Cover
Cover | 12 Months Ended |
Mar. 31, 2023 | |
Document Information [Line Items] | |
Document Type | PRE 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | HAMILTON LANE INC |
Entity Central Index Key | 0001433642 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | |
Pay vs Performance Disclosure | |||
Pay vs Performance Disclosure, Table | Year Summary Compensation Table Total for PEO (1) ($) Compensation Actually Paid to PEO (2) ($) Average Summary Compensation Table Total for non-PEO NEOs (3) ($) Average Compensation Actually Paid to non-PEO NEOs (3) ($) Value of Initial Fixed $100 Investment Based on: Net Income (6) ($ millions) Fee Related Earnings (7) ($ millions) Total Shareholder Return (4) ($) Peer Group Total Shareholder Return (5) ($) 2023 658,386 658,386 3,088,962 3,099,481 141.70 171.52 109.12 158.81 2022 711,477 711,477 1,959,255 1,997,115 144.58 189.87 145.99 144.25 2021 853,803 1,091,877 2,183,114 2,870,381 163.01 174.17 98.02 130.04 | ||
Company Selected Measure Name | Fee Related Earnings (“FRE”) | ||
Named Executive Officers, Footnote | Mr. Giannini served as PEO in all reported years.The non-PEO NEOs were the following individuals for each of the fiscal years shown: 2023 – Mr. Varma, Mr. Hirsch, Mr. Delgado-Moreira and Ms. Gavalis; 2022 – Mr. Varma, Mr. Hirsch, Mr. Delgado-Moreira, Ms. Gavalis and Mr. Lucey; and 2021 – Mr. Varma, Mr. Hirsch, Mr. Delgado-Moreira and Mr. Lucey, collectively, our non-PEO NEOs for each covered year as reported in the “Total” column of the “Summary Compensation Table” in this and prior years’ proxy statements. | ||
Peer Group Issuers, Footnote | Total shareholder return (“TSR”) as calculated based on a fixed investment of $100 in our Class A common stock measured from the market close on March 31, 2020 (the last trading day of fiscal 2020) through and including the end of the fiscal year for each year reported in the table.Total shareholder return as calculated based on a fixed investment of $100 in the Dow Jones U.S. Asset Managers Index. | ||
PEO Total Compensation Amount | $ 658,386 | $ 711,477 | $ 853,803 |
PEO Actually Paid Compensation Amount | $ 658,386 | 711,477 | 1,091,877 |
Adjustment To PEO Compensation, Footnote | To calculate CAP, the following amounts were deducted from and added to Summary Compensation Table total compensation for each of the fiscal years shown for Mr. Giannini as well as for our non-PEO NEOs in accordance with the requirements of Item 402(v)(2)(iii): 2023 2022 2021 PEO Avg. Non-PEO NEOs PEO Avg. Non-PEO NEOs PEO Avg. Non-PEO NEOs Summary Compensation Table Total 658,386 3,088,962 711,477 1,959,255 853,803 2,183,114 Deduct amounts reported in the Stock Awards column of Summary Compensation Table (x) — 656,199 — 230,487 — 343,323 Add fair value (y) of current year equity awards at end of current fiscal year — 729,244 — 341,195 — 349,342 Add change in fair value (y) of prior years' equity awards that remained outstanding and unvested at end of current fiscal year — (15,720) — (57,354) — 357,387 Add change in fair value (y) of prior years' equity awards that vested during current fiscal year — (46,806) — (15,494) 238,074 323,861 CAP Total (z) 658,386 3,099,481 711,477 1,997,115 1,091,877 2,870,381 (x) Reflects the grant date fair value of equity-based awards as discussed in the Summary Compensation Table and the Grants of Plan-Based Awards table for each fiscal year shown. (y) Reflects the measurement date fair value of equity-based awards, measured in accordance with ASC Topic 718 and in accordance with the SEC’s methodology for determining CAP for each fiscal year shown. The valuation methods and underlying assumptions are consistent with those disclosed in our financial statements as of the grant date for each award, including awards subject to performance conditions which are valued at the probable outcome of the award at each measurement date, and are further described in “Compensation and Benefits” in Note 2, “Summary of Significant Accounting Policies” to our consolidated financial statements included in Item 8 of our 2023 Form 10-K. For performance stock awards, the grant date fair value reported is based upon the probable outcome of the performance conditions described in “—Compensation Discussion and Analysis—Determination of Compensation for Named Executive Officers—Compensation Elements—Equity Awards—2017 Equity Plan”. | ||
Non-PEO NEO Average Total Compensation Amount | $ 3,088,962 | 1,959,255 | 2,183,114 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 3,099,481 | 1,997,115 | 2,870,381 |
Adjustment to Non-PEO NEO Compensation Footnote | To calculate CAP, the following amounts were deducted from and added to Summary Compensation Table total compensation for each of the fiscal years shown for Mr. Giannini as well as for our non-PEO NEOs in accordance with the requirements of Item 402(v)(2)(iii): 2023 2022 2021 PEO Avg. Non-PEO NEOs PEO Avg. Non-PEO NEOs PEO Avg. Non-PEO NEOs Summary Compensation Table Total 658,386 3,088,962 711,477 1,959,255 853,803 2,183,114 Deduct amounts reported in the Stock Awards column of Summary Compensation Table (x) — 656,199 — 230,487 — 343,323 Add fair value (y) of current year equity awards at end of current fiscal year — 729,244 — 341,195 — 349,342 Add change in fair value (y) of prior years' equity awards that remained outstanding and unvested at end of current fiscal year — (15,720) — (57,354) — 357,387 Add change in fair value (y) of prior years' equity awards that vested during current fiscal year — (46,806) — (15,494) 238,074 323,861 CAP Total (z) 658,386 3,099,481 711,477 1,997,115 1,091,877 2,870,381 (x) Reflects the grant date fair value of equity-based awards as discussed in the Summary Compensation Table and the Grants of Plan-Based Awards table for each fiscal year shown. (y) Reflects the measurement date fair value of equity-based awards, measured in accordance with ASC Topic 718 and in accordance with the SEC’s methodology for determining CAP for each fiscal year shown. The valuation methods and underlying assumptions are consistent with those disclosed in our financial statements as of the grant date for each award, including awards subject to performance conditions which are valued at the probable outcome of the award at each measurement date, and are further described in “Compensation and Benefits” in Note 2, “Summary of Significant Accounting Policies” to our consolidated financial statements included in Item 8 of our 2023 Form 10-K. For performance stock awards, the grant date fair value reported is based upon the probable outcome of the performance conditions described in “—Compensation Discussion and Analysis—Determination of Compensation for Named Executive Officers—Compensation Elements—Equity Awards—2017 Equity Plan”. | ||
Compensation Actually Paid vs. Total Shareholder Return | |||
Compensation Actually Paid vs. Net Income | |||
Compensation Actually Paid vs. Company Selected Measure | |||
Total Shareholder Return Vs Peer Group | |||
Tabular List, Table | Most Important Performance Measures • Fee Related Earnings | ||
Total Shareholder Return Amount | $ 141,700,000 | 144,580,000 | 163,010,000 |
Peer Group Total Shareholder Return Amount | 171,520,000 | 189,870,000 | 174,170,000 |
Net Income (Loss) | $ 109,120,000 | $ 145,990,000 | $ 98,020,000 |
Company Selected Measure Amount | 158,810,000 | 144,250,000 | 130,040,000 |
PEO Name | Mr. Giannini | ||
Additional 402(v) Disclosure | Net Income” as reported in our Annual Report on Form 10-K for the fiscal years ended March 31, 2023, 2022, and 2021. | ||
Measure:: 1 | |||
Pay vs Performance Disclosure | |||
Name | Fee Related Earnings | ||
Non-GAAP Measure Description | For purposes of Item 402(v)(2)(iii), we have identified Fee Related Earnings (“FRE”) as our Company-Selected Measure. FRE is described in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations”—“Non-GAAP Financial Measures” of our 2023 Form 10-K. For a reconciliation of FRE to our Net Income for the relevant periods, please see Appendix A. | ||
PEO | Equity Awards Granted During the Year, Grant Date Fair Value [Member] | |||
Pay vs Performance Disclosure | |||
Adjustment to Compensation, Amount | $ 0 | $ 0 | $ 0 |
PEO | Equity Awards Granted During the Year, Fair Value at Year End [Member] | |||
Pay vs Performance Disclosure | |||
Adjustment to Compensation, Amount | 0 | 0 | 0 |
PEO | Equity Awards Granted in Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure | |||
Adjustment to Compensation, Amount | 0 | 0 | 0 |
PEO | Equity Awards Granted in Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure | |||
Adjustment to Compensation, Amount | 0 | 0 | 238,074 |
Non-PEO NEO | Equity Awards Granted During the Year, Grant Date Fair Value [Member] | |||
Pay vs Performance Disclosure | |||
Adjustment to Compensation, Amount | 656,199 | 230,487 | 343,323 |
Non-PEO NEO | Equity Awards Granted During the Year, Fair Value at Year End [Member] | |||
Pay vs Performance Disclosure | |||
Adjustment to Compensation, Amount | 729,244 | 341,195 | 349,342 |
Non-PEO NEO | Equity Awards Granted in Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure | |||
Adjustment to Compensation, Amount | (15,720) | (57,354) | 357,387 |
Non-PEO NEO | Equity Awards Granted in Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure | |||
Adjustment to Compensation, Amount | $ (46,806) | $ (15,494) | $ 323,861 |