Kini Narasimha 4

4 · ExlService Holdings, Inc. · Filed Mar 3, 2026

AI-generated summary of this filing

Updated Mar 3, 2026

ExlService (EXLS) EVP Kini Narasimha Exercises RSUs, Sells Shares

What Happened

Kini Narasimha, Executive Vice President of ExlService Holdings (EXLS), had 5,587 restricted stock units (RSUs) vest and convert into 5,587 shares on Feb 27, 2026 (reported as a derivative conversion, code M).
To satisfy tax withholding, 2,853 of those shares were withheld/sold at $30.99 per share for a proceeds/withholding amount of $88,414 (code F). The RSU conversion shows an acquisition at $0.00 per share because RSUs convert one-for-one into common stock without a cash exercise price.
Net shares retained from this vesting event: 5,587 converted − 2,853 withheld = 2,734 net shares added to the insider’s holdings.

Key Details

Transaction date: February 27, 2026; Form 4 filed March 3, 2026 (timely — filed within two business days).
Prices and amounts: 5,587 RSUs converted at $0.00; 2,853 shares withheld/sold at $30.99 for $88,414.
Net shares received from vesting: 2,734.
Footnotes: F1 notes RSUs convert one-for-one to common stock; F2 states the prior-day Nasdaq closing price is used for tax reporting/withholding; F3 shows these RSUs were part of a 22,348-share grant vesting in four annual installments (25% vested each year, with the 25% tranche vesting on Feb 27, 2026).
Filing timeliness: Not late (filed within the SEC’s two-business-day window).

Context

This was a routine RSU vesting with shares withheld to cover taxes (a common, administrative transaction), not an open-market sale initiated for investment reasons.
Code notes: M = conversion/exercise of a derivative (here, RSU conversion); F = shares disposed to satisfy tax withholding.
The filing does not disclose the insider’s total holdings after the transaction in the provided excerpt; reported net increase from this vesting was 2,734 shares.

Form 4

Period: 2026-02-27

Executive Vice President

Transactions

Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]
2026-02-27+5,587→ 214,601 total
Tax Payment
Common Stock, par value $0.001 per share
[F2]
2026-02-27$30.99/sh−2,853$88,414→ 211,748 total
Exercise/Conversion
Restricted Stock Units
[F1][F3]
2026-02-27−5,587→ 11,174 total
→ Common Stock, par value $0.001 per share (5,587 underlying)

Footnotes (3)

[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 27, 2024, the reporting person was granted 22,348 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 27, 2025, an additional 25 percent of the restricted stock units became vested on February 27, 2026, an additional 25 percent of the restricted stock units will vest on February 27, 2027, and the remaining balance of 25 percent of the restricted stock units will vest on February 27, 2028.

Signature

/s/ Ajay Ayyappan, Attorney-in-Fact|2026-03-03

1 file