Jetley Vivek 4

4 · ExlService Holdings, Inc. · Filed Feb 23, 2026

AI-generated summary of this filing

Updated Feb 23, 2026

EXLS President Vivek Jetley Receives RSUs, Withholds Shares for Taxes

What Happened

Vivek Jetley, President of ExlService Holdings, received a grant of 45,324 restricted stock units (RSUs) on Feb 19, 2026. On Feb 20, 2026, 6,849 previously granted RSUs converted into common stock (one-for-one). To satisfy tax withholding, 3,788 of those shares were surrendered/sold at $30.41 per share, totaling $115,193. Net shares received from the conversion were 3,061 (6,849 converted minus 3,788 withheld).
Transaction codes: A = award/grant (45,324 RSUs); M = conversion/exercise of derivative (6,849 converted); F = payment of tax liability via share withholding (3,788 shares, $115,193).

Key Details

Transaction dates: RSU grant 2026-02-19; conversion and withholding 2026-02-20; Form 4 filed 2026-02-23 (timely).
Withholding price used: $30.41 per share (closing price on preceding trading day, per plan rules).
Net shares added from the conversion: 3,061 shares (6,849 converted less 3,788 withheld).
Shares owned after transaction: not disclosed in the supplied excerpt of the filing.
Notable footnotes: RSUs convert one-for-one into common stock; RSUs represent contingent rights and vest per the company plans. The 45,324 RSU grant vests in four equal annual installments beginning Feb 19, 2027. A prior June 17, 2025 grant of 27,396 RSUs vested 25% (6,849 shares) on Feb 20, 2026, which aligns with the conversion reported here. Performance-based RSUs granted Feb 19, 2026 were excluded from this report.

Context

This appears to be a standard RSU vest/settlement with share withholding to cover tax obligations (common practice). The filing shows conversion of vested RSUs and withholding for taxes rather than an open-market sale for investment purposes.
For retail investors: awards and routine withholding activity are common and do not necessarily indicate insider sentiment.

Form 4

Period: 2026-02-19

President of EXL

Transactions

Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]
2026-02-20+6,849→ 425,681 total
Tax Payment
Common Stock, par value $0.001 per share
[F2]
2026-02-20$30.41/sh−3,788$115,193→ 421,893 total
Award
Restricted Stock Units
[F3][F4]
2026-02-19+45,324→ 45,324 total
→ Common Stock, par value $0.001 per share (45,324 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F5]
2026-02-20−6,849→ 20,547 total
→ Common Stock, par value $0.001 per share (6,849 underlying)

Footnotes (5)

[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]Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.
[F4]The restricted stock units will vest in four equal annual installments, beginning on February 19, 2027. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2025 Omnibus Incentive Plan).
[F5]On June 17, 2025, the reporting person was granted 27,396 restricted stock units, vesting in four equal annual installments beginning on February 20, 2026. 25 percent of the restricted stock units became vested on February 20, 2026, an additional 25 percent of the restricted stock units will vest on February 20, 2027, an additional 25 percent of the restricted stock units will vest on February 20, 2028, and the remaining balance of 25 percent of the restricted stock units will vest on February 20, 2029.

Signature

/s/ Ajay Ayyappan, Attorney-in-Fact|2026-02-23

1 file