Jetley Vivek 4
4 · ExlService Holdings, Inc. · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
EXLS President Vivek Jetley Receives 9,450 Shares (RSU Conversion)
What Happened
- Vivek Jetley, President of ExlService Holdings, had restricted stock units convert into 9,450 shares of EXLS common stock on February 17, 2026 (two conversions: 5,050 and 4,400 shares).
- To cover tax withholding related to the vesting, 5,227 shares were surrendered/withheld (2,793 shares and 2,434 shares) at $30.04 per share, generating cash value of $83,902 and $73,117 respectively (total withheld value ≈ $157,019).
- This was not an open-market purchase or a voluntary sale by Jetley but a routine RSU vesting/conversion with shares withheld to satisfy tax obligations.
Key Details
- Transaction date: 2026-02-17. Price used for tax withholding: $30.04 per share (closing price prior day).
- Shares acquired via conversion: 9,450 (5,050 + 4,400). Shares withheld/disposed for taxes: 5,227 (2,793 + 2,434).
- Net shares added to Jetley’s holdings from this event: 4,223 shares (9,450 − 5,227).
- Shares owned after the transaction: not disclosed in the Form 4 filing.
- Relevant footnotes: RSUs convert one-for-one into common stock (F1); tax withholding was computed using prior-day Nasdaq close per the company’s 2018 Omnibus Incentive Plan (F2). The converted units trace to awards granted Feb 16, 2022 and Feb 15, 2023 with scheduled vesting (F3, F4).
- Filing timeliness: Form 4 filed Feb 19, 2026 for transactions on Feb 17, 2026 (appears timely).
Context
- This was a vesting/conversion event (derivative conversion — Form 4 code M) followed by share-withholding to satisfy tax liabilities (code F). That is effectively a "sell-to-cover" / withholding for taxes and is a routine compensation event rather than a market-driven buy or sell.
- For retail investors: such conversions increase insider share ownership (net +4,223 shares here) but the withheld shares do not reflect a decision to liquidate beyond tax obligations.
Insider Transaction Report
Form 4
Jetley Vivek
President of EXL
Transactions
- Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-02-17+5,050→ 419,659 total - Tax Payment
Common Stock, par value $0.001 per share
[F2]2026-02-17$30.04/sh−2,793$83,902→ 416,866 total - Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-02-17+4,400→ 421,266 total - Tax Payment
Common Stock, par value $0.001 per share
[F2]2026-02-17$30.04/sh−2,434$73,117→ 418,832 total - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-02-17−5,050→ 0 total→ Common Stock, par value $0.001 per share (5,050 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F4]2026-02-17−4,400→ 4,400 total→ Common Stock, par value $0.001 per share (4,400 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 16, 2022, the reporting person was granted 4,040 (pre-split) restricted stock units, vesting in four 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 twenty-five percent of the restricted stock units became vested on February 16, 2024, an additional twenty-five percent of the restricted stock units became vested on February 16, 2025; and the remaining balance of twenty-five percent of the restricted stock units became vested on February 16, 2026.
- [F4]On February 15, 2023, the reporting person was granted 3,520 (pre-split) restricted stock units, vesting in four 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 twenty-five percent of the restricted stock units became vested on February 15, 2025, an additional twenty-five percent of the restricted stock units became vested on February 15, 2026; and the remaining balance of twenty-five percent of the restricted stock units will vest on February 15, 2027.
Signature
/s/ Ajay Ayyappan, Attorney-in-Fact|2026-02-19