4//SEC Filing
AYYAPPAN AJAY 4
Accession 0001628280-26-003326
CIK 0001297989other
Filed
Jan 22, 7:00 PM ET
Accepted
Jan 23, 5:11 PM ET
Size
7.9 KB
Accession
0001628280-26-003326
Research Summary
AI-generated summary of this filing
ExlService (EXLS) EVP Ayyappan Ajay Exercises RSUs, Receives 5,093 Shares
What Happened
Ayyappan Ajay, EVP & General Counsel and Corporate Secretary of ExlService Holdings, exercised/converted vested restricted stock units (derivative transaction) and received 5,093 shares on January 21, 2026. Those shares were issued at an effective price basis of $41.64 per share (total value ≈ $212,073). At the same time, 6,670 shares were surrendered/disposed with a $0 proceeds code — representing shares withheld in connection with settlement/tax withholding.
Key Details
- Transaction date: January 21, 2026. Filing date: January 23, 2026 (no late-filing flag shown in the Form 4).
- Acquired: 5,093 shares at $41.64 each (total value ≈ $212,073).
- Disposed: 6,670 shares at $0.00 (withheld/surrendered as part of settlement/tax withholding).
- Shares owned after the transaction: Not specified in the provided filing.
- Footnotes:
- F1: The issued shares relate to RSUs that vested March 31, 2024 but were settled Jan 21, 2026; administrative delay led to a reduction in shares issued due to applicable U.S. tax rules.
- F2: Some units arise from a share-matching plan tied to officer stock purchases.
- F3: The RSUs trace to a March 31, 2022 grant (20,025 RSUs pre-split) with vesting in installments (33% vested 3/31/2024; remaining 67% vested 3/31/2025); this transaction settles the 2024 vesting tranche.
Context
- This was not an open-market buy or sale signaling new cash flow; it reflects settlement of vested RSUs. The 6,670-share disposition at $0 is a common tax/settlement withholding, not a market sale.
- For retail investors, such settlements are routine compensation events and do not by themselves indicate the insider is increasing or decreasing a market exposure beyond normal tax/settlement mechanics.
Insider Transaction Report
Form 4
AYYAPPAN AJAY
EVP & Gen Counsel/Corp. Sec'y.
Transactions
- Exercise/Conversion
Common Stock, par value $0.001 per share
[F1]2026-01-21$41.64/sh+5,093$212,073→ 52,613 total - Exercise/Conversion
Restricted Stock Units
[F2][F3]2026-01-21−6,670→ 0 total→ Common Stock, par value $0.001 per share (6,670 underlying)
Footnotes (3)
- [F1]Represents the shares of common stock of ExlService Holdings, Inc. (the "Company") issued in respect of the reporting person's restricted stock units that vested as of March 31, 2024, but which were settled as of January 21, 2026. Due to administrative delay in settlement, the number of shares of common stock issued to the reporting person was reduced based on applicable U.S. tax rules and regulations.
- [F2]Represents restricted stock units received under a share matching plan in connection with the officer's purchase of common stock, par value $0.001 per share of ExlService Holdings, Inc.
- [F3]On March 31, 2022, the reporting person was granted 20,025 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.
Signature
/s/ Ajay Ayyappan|2026-01-23
Documents
Issuer
ExlService Holdings, Inc.
CIK 0001297989
Entity typeother
Related Parties
1- filerCIK 0001762098
Filing Metadata
- Form type
- 4
- Filed
- Jan 22, 7:00 PM ET
- Accepted
- Jan 23, 5:11 PM ET
- Size
- 7.9 KB