Kapoor Rohit 4

What Happened
Rohit Kapoor, Chairman & CEO of ExlService Holdings (EXLS), had 33,525 restricted stock units (RSUs) convert into common shares on February 28, 2026 (reported as derivative exercise/conversion). The filing shows an acquisition of 33,525 shares at $0.00 (conversion of RSUs) and a simultaneous disposition of 33,525 shares (also reported at $0.00, listed as a derivative transaction). The conversion amount equals 25% of a 134,100 RSU grant made on February 28, 2024 that vests in four annual installments.

Key Details

• Transaction date: February 28, 2026; Form 4 filed March 3, 2026 (Accession 0001628280-26-014085).
• Transaction type/code: M (exercise/conversion of derivative); acquisition 33,525 shares @ $0.00; disposition 33,525 shares @ $0.00.
• This conversion represents 25% of a 134,100 RSU award granted Feb 28, 2024 (footnote F8).
• Footnotes indicate the shares/RSUs are held across accounts and trusts (owned by Rohit Kapoor and several family trusts; see F2–F7).
• Shares owned after the transaction are not specified in the provided excerpt.
• Filing does not state the reason for the disposition (e.g., sale, tax withholding, or transfer).

Context

• A $0.00 acquisition here means RSUs converted into common stock on a one-for-one basis (footnote F1); the matching disposition is commonly used to satisfy tax withholding, sales, or transfers but the filing itself does not disclose the purpose.
• This is a vesting/conversion event rather than an open-market purchase or sale signaling a trading decision; purchases are typically interpreted as a stronger bullish signal than routine RSU vesting.