PANDIT VIKRAM S 4

What Happened

• Vikram S. Pandit, a director of ExlService Holdings, Inc. (EXLS), was granted 11,293 restricted stock units (RSUs) on 2026-06-16. The grant is reported as a derivative award (transaction code A) with an acquisition price of $0 in the Form 4 filing.
• This was an award (not a purchase or sale); the RSUs represent a contingent right to receive one share of common stock per unit upon settlement.

Key Details

• Transaction date: 2026-06-16; Form 4 filed: 2026-06-18 (timely filing).
• Amount: 11,293 RSUs; reported acquisition price: $0 (standard for RSU grants).
• Shares owned after transaction: not specified in the provided summary of the filing.
• Footnotes: F1 clarifies each RSU converts to one share upon settlement. F2 outlines vesting/settlement rules — RSUs vest on the earlier of (i) the first anniversary of the grant, (ii) the end of his board term if not re-elected, or (iii) a Change in Control; settlement occurs on death, a Change in Control, or 180 days after ceasing Board service (except on death).
• Transaction code A = Award/Grant (derivative); no indication of a 10b5-1 plan or tax-withholding sale in this filing.

Context

• RSU awards are compensation and do not reflect an open-market purchase or sale; they become shares only if/when vesting and settlement conditions are met.
• Because this is an award to a director and not an immediate purchase or sale, it should be viewed as routine compensation rather than a direct insider market signal.