Kini Narasimha 4

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.