Chhibbar Vishal 4

What Happened
Vishal Chhibbar, Executive Vice President of ExlService Holdings (EXLS), was granted 27,192 restricted stock units (RSUs) on Feb 19, 2026. On Feb 20, 2026, 4,004 RSUs converted into common shares at no exercise cost. To cover tax withholding related to the conversion, 2,427 shares were disposed at $30.41 per share, raising about $73,805. The filing was submitted on Feb 23, 2026.

Key Details

• Transactions reported:
  • 2026-02-19: Grant — 27,192 RSUs (derivative award) @ $0.00.
  • 2026-02-20: Conversion/exercise — 4,004 shares acquired (derivative) @ $0.00.
  • 2026-02-20: Tax withholding — 2,427 shares disposed @ $30.41, proceeds ~$73,805.
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes:
  • F1/F3: RSUs convert one-for-one into common stock on settlement.
  • F2: Company used the prior trading day's close to calculate tax withholding.
  • F4: The 27,192 RSUs vest in four equal annual installments beginning Feb 19, 2027 (with acceleration in certain events).
  • F5: A prior June 17, 2025 grant of 16,016 RSUs vested 25% (4,004 shares) on Feb 20, 2026 — explaining the 4,004-share conversion.
  • The filing notes additional performance-based RSUs granted on Feb 19, 2026 that are excluded from this report.
• Filing date: Feb 23, 2026. The report lists the above transactions dated Feb 19–20, 2026.

Context
These entries reflect standard RSU activity: an award grant, conversion/settlement of vested RSUs into shares, and shares withheld/sold to satisfy tax obligations (a routine administrative sale, not an open-market directional trade). The $0.00 exercise price indicates conversion of RSUs rather than purchase of optioned shares.