Kini Narasimha 4

What Happened
Kini Narasimha, Executive Vice President of ExlService Holdings (EXLS), was credited with 26,116 shares of Common Stock on Jan 26, 2026 as performance restricted stock units (PRSUs) were deemed earned. To satisfy tax withholding on the award, 13,334 of those shares were surrendered (disposed) at $42.64 per share, generating withholding values of $196,101 and $372,460 (total ≈ $568,561). Net new shares retained by Narasimha after withholding: 12,782.

Key Details

• Transaction date: January 26, 2026; Form 4 filed January 28, 2026 (timely).
• Awards: 9,007 shares and 17,109 shares granted (total 26,116) — Code A (award/grant).
• Withholdings/tax payment: 4,599 shares and 8,735 shares surrendered at $42.64 each — Code F (tax withholding); totals $196,101 and $372,460 (combined ≈ $568,561).
• Shares owned after the reported transactions: not specified in the filing.
• Footnotes: (F1) PRSUs were granted Feb 15, 2023 and were certified as earned for the performance period ending Dec 31, 2025; (F2) the $42.64 per-share figure is the Nasdaq closing price used to compute tax withholding.
• Filing timeliness: Filed within the normal Form 4 window (not reported as late).

Context
This was an earned performance award (PRSUs) that vested upon committee certification; the surrendered shares were used solely to cover tax obligations (a common practice), not an open‑market sale. The remaining net shares (12,782) were retained by the insider. Awards and withholding transactions are routine compensation events and do not by themselves signal a deliberate buy or sell decision.