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

Role: Executive Vice President & CFO
Signature: /s/ Lazbart Oseni, Attorney-in-Fact
Issuer symbol: EXLS
Transactions as of: 19 Feb 2022
Net transactions value: -$30,377
Form type: 4
Filing time: 23 Feb 2022, 17:02:29 UTC
Previous filing: 18 Feb 2022
Next filing: 15 Mar 2022
SEC: View on sec.gov

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	+1,091	+20%	$0.000000	6,593	19 Feb 2022	Direct	F1
transaction	EXLS	Common Stock, par value $0.001 per share	Tax liability	$30,377	-266	-4%	$114.20	6,327	19 Feb 2022	Direct	F2

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	-1,091	-33%	$0.000000	2,183	19 Feb 2022	Common Stock, par value $0.001 per share	1,091		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	The reporting person's restricted stock units reported in this report vested on February 19, 2022. Under the Company's 2018 Amendment and Restatement of the 2006 Omnibus Award 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 19, 2020, the reporting person was granted 4,365 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 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.