Narasimha Kini - Feb 19, 2022 Form 4 Insider Report for ExlService Holdings, Inc. (EXLS)

Role: EVP, Emerging Bus Unit Leader
Signature: /s/ Lazbart Oseni, Attorney-in-Fact
Stock symbol: EXLS
Transactions as of: Feb 19, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/23/2022, 04:59 PM
Previous filing: Feb 18, 2022
Next filing: Feb 24, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EXLS	Common Stock, par value $0.001 per share	Options Exercise	$0	+588	+2.77%	$0.00	21.8K	Feb 19, 2022	Direct	F1
transaction	EXLS	Common Stock, par value $0.001 per share	Options Exercise	$0	+585	+2.68%	$0.00	22.4K	Feb 20, 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	EXLS	Restricted Stock Units	Options Exercise	$0	-588	-33.35%	$0.00	1.18K	Feb 19, 2022	Common Stock, par value $0.001 per share	588	$0.00	Direct	F1, F2
transaction	EXLS	Restricted Stock Units	Options Exercise	$0	-585	-50%	$0.00	585	Feb 20, 2022	Common Stock, par value $0.001 per share	585	$0.00	Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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	On February 19, 2020, the reporting person was granted 2,350 restricted stock units, vesting in four annual installments beginning on the first anniversary of the grant date. 25 percent of the restricted stock units became vested on February 19, 2021, an additional twenty-five percent of the restricted stock units became vested on February 19, 2022, an additional twenty-five percent of the restricted stock units became will vest on February 19, 2023, and the remaining balance of twenty-five percent of the restricted stock units will vest on February 19, 2024.
F3	On February 20, 2019, the reporting person was granted 2,340 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 20, 2020, an additional 25 percent of the restricted stock units became vested on February 20, 2021, an additional 25 percent of the restricted stock units became vested on February 20, 2022, and the remaining balance of 25 percent of the restricted stock units will vest on February 20, 2023.