Jetley Vivek 4

What Happened

• Vivek Jetley, President of ExlService Holdings (EXLS), had 9,579 restricted stock units (RSUs) vest and convert into common shares on February 27, 2026. The conversion was a one-for-one issuance of common stock from RSUs.
• To cover tax withholding, 5,298 of those shares were surrendered/withheld at a per-share price of $30.99, yielding a tax-withholding value of $164,185. The net shares delivered to Mr. Jetley from this vesting event were 4,281 shares (9,579 converted − 5,298 withheld).

Key Details

• Transaction date: February 27, 2026. Form 4 filed March 3, 2026 (reporting period 2026-02-27).
• Conversion: 9,579 RSUs converted to 9,579 common shares (derivative exercise/conversion, code M).
• Withholding/tax payment: 5,298 shares disposed to satisfy tax withholding at $30.99/share = $164,185 (code F).
• Net shares retained from the vesting: 4,281 shares.
• Footnotes: RSUs convert one-for-one to common stock; the company uses the prior trading day's closing price to compute tax withholding. The RSUs originated from a Feb 27, 2024 grant of 38,316 RSUs that vest in four annual installments (25% each year through 2028).
• Shares owned after the transaction were not provided in the excerpt of this filing.

Context

• This was a routine vesting and tax-withholding event (conversion of RSUs), not an open-market purchase or directed sale. Withholding shares to cover taxes is common and does not necessarily signal a change in insider conviction.
• Codes: M = exercise/conversion of derivatives (here, RSUs into common stock); F = shares withheld/used to pay taxes or exercise price.
• No indication in the provided data that this filing was late.