Kapoor Rohit 4

What Happened

• Rohit Kapoor, Chairman & CEO of ExlService Holdings (EXLS), had restricted stock units (RSUs) convert into common stock on February 17, 2026. The Form 4 shows conversions (derivative exercises, code M) of 31,455 and 26,120 shares — a total of 57,575 shares — at $0.00 per share (zero cash exercise price because these were vested RSUs). Matching "Disposed" entries indicate those shares were immediately transferred to entities/owners referenced in the filing (see footnotes).

Key Details

• Transaction date: February 17, 2026; reported on Form 4 filed February 19, 2026 (timely filing).
• Price: $0.00 per share (conversion of vested RSUs); total cash value on exercise: $0.
• Shares involved: 31,455 and 26,120 shares (total 57,575).
• Disposition: Shares were transferred (disposed) immediately after conversion to parties/vehicles identified in footnotes (various trusts and accounts owned by or for Kapoor).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Relevant footnotes: F1 explains RSUs convert one-for-one into common stock. F2–F7 identify ownership of transferred shares by Rohit Kapoor and several family trusts. F8 and F9 describe the original RSU grants (grants from 2022 and 2023 that vested in part in February 2026).

Context

• These transactions reflect RSU vesting and conversion, not an open‑market purchase or cash sale. The zero price and immediate transfers suggest vesting distribution and reallocation to family/ownership vehicles (common for executive compensation and estate planning), not a cash exit. Such conversions are routine forms of compensation and do not by themselves signal a buy or sell opinion by the insider.