Jetley Vivek 4

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.