Jetley Vivek 4

What Happened
Vivek Jetley, President of ExlService Holdings (EXLS), exercised/converted derivative awards on Jan 21, 2026. He acquired 5,315 shares at $41.64 per share (total cash/payment = $221,317). At the same time 6,960 shares were reported as disposed at $0.00 — these represent shares withheld/settled (not an open-market sale) in connection with the RSU settlement and tax withholding.

Key Details

• Transaction date: January 21, 2026; Form 4 filed January 23, 2026 (appears timely).
• Acquired: 5,315 shares at $41.64 — total $221,317.
• Disposed: 6,960 shares at $0.00 (derivative withholding/settlement).
• Shares owned after transaction: Not disclosed in the provided excerpt.
• Footnotes:
  • F1: Shares issued from restricted stock units (RSUs) that vested March 31, 2024 but were settled Jan 21, 2026; the issued amount was reduced per U.S. tax withholding rules.
  • F3: The RSUs originate from a March 31, 2022 grant (20,885 RSUs adjusted for a 5-for-1 split) with vesting in installments; this settlement covers the portion that vested in 2024.
  • F2: References RSUs from a share matching plan (noted in the filing).
• Remarks note the company’s General Counsel is Mr. Ayyappan (administrative remark in filing).

Context
This was a derivative/RSU settlement and not an open-market buy or sale. The "disposed" line at $0.00 reflects shares withheld or surrendered to satisfy tax obligations on vesting, a common administrative step when RSUs are settled. Such transactions reflect compensation vesting rather than a directional bet on the stock.