Kini Narasimha 4
4 · ExlService Holdings, Inc. · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
ExlService (EXLS) EVP Kini Narasimha Exercises RSUs, Shares Withheld for Taxes
What Happened
- Kini Narasimha, Executive Vice President of ExlService Holdings (EXLS), had restricted stock units convert into 6,530 shares on February 17, 2026 (exercise/conversion entries). To satisfy tax withholding, 3,334 of those shares were withheld/disposed at $30.04 per share for a total withholding value of $100,153. The RSUs converted at an exercise price of $0 (they are conversions of restricted stock units, not option purchases).
Key Details
- Transaction date: February 17, 2026; Form 4 filed February 19, 2026 (timely).
- Conversion: 6,530 shares created from RSU conversion (3,300 + 3,230).
- Tax withholding/dispositions: 1,685 shares @ $30.04 = $50,617; 1,649 shares @ $30.04 = $49,536; total withheld = 3,334 shares, ~$100,153.
- Net shares retained from this vesting event (6,530 − 3,334): 3,196 shares (calculated from reported entries).
- Exercise price shown as $0.00 (RSU conversion).
- Footnotes: RSUs convert one-for-one into common stock (F1); company uses prior-day Nasdaq closing price to compute withholding (F2). The reported RSUs stem from grants made Feb 16, 2022 and Feb 15, 2023 with multi-year vesting schedules (F3–F4).
- Filing timeliness: not indicated as late; appears filed within the normal reporting window.
Context
- These entries reflect routine RSU vesting and share withholding to cover tax liabilities (code F), not an open-market sell by the insider. The conversion entries are coded as derivative exercises/conversions (M) because restricted stock units became common shares. This is common compensation-related activity and does not by itself indicate a buy or sell signal beyond the vesting event.
Insider Transaction Report
Form 4
Kini Narasimha
Executive Vice President
Transactions
- Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-02-17+3,300→ 207,055 total - Tax Payment
Common Stock, par value $0.001 per share
[F2]2026-02-17$30.04/sh−1,685$50,617→ 205,370 total - Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-02-17+3,230→ 208,600 total - Tax Payment
Common Stock, par value $0.001 per share
[F2]2026-02-17$30.04/sh−1,649$49,536→ 206,951 total - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-02-17−3,230→ 3,230 total→ Common Stock, par value $0.001 per share (3,230 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-02-17−3,300→ 0 total→ Common Stock, par value $0.001 per share (3,300 underlying)
Footnotes (4)
- [F1]Restricted stock units of ExlService Holdings, Inc. (the "Company") convert into common stock, par value $0.001 per share (the "Common Stock") on a one-for-one basis.
- [F2]Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan, pursuant to which such restricted stock units were granted, the closing price of the Common Stock on the Nasdaq Global Select Market on the preceding day is used for purposes of computing tax reporting and withholding.
- [F3]On February 15, 2023, the reporting person was granted 2,584 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 15, 2024, an additional 25 percent of the restricted stock units became vested on February 15, 2025, an additional 25 percent of the restricted stock units became vested on February 15, 2026, and the remaining balance of 25 percent of the restricted stock units will vest on February 15, 2027.
- [F4]On February 16, 2022, the reporting person was granted 2,640 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 16, 2023, an additional 25 percent of the restricted stock units became vested on February 16, 2024, an additional 25 percent of the restricted stock units became vested on February 16, 2025, and the remaining balance of 25 percent of the restricted stock units became vested on February 16, 2026.
Signature
/s/ Ajay Ayyappan, Attorney-in-Fact|2026-02-19