AJAY AYYAPPAN - 27 Jan 2025 Form 4 Insider Report for ExlService Holdings, Inc. (EXLS)

Role: EVP & Gen Counsel/Corp. Sec'y.
Signature: /s/ Ajay Ayyappan
Issuer symbol: EXLS
Transactions as of: 27 Jan 2025
Transactions value $: -$923,537
Form type: 4
Filing time: 29 Jan 2025, 17:13:14 UTC
Previous filing: 22 Jan 2025
Next filing: 12 Feb 2025
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	+14K	+34.16%	$0.00	55K	27 Jan 2025	Direct	F1
transaction	EXLS	Common Stock, par value $0.001 per share	Tax liability	-$375K	-7.62K	-13.86%	$49.14	47.4K	27 Jan 2025	Direct	F1, F2
transaction	EXLS	Common Stock, par value $0.001 per share	Options Exercise	$0	+21K	+44.3%	$0.00	68.3K	27 Jan 2025	Direct	F1
transaction	EXLS	Common Stock, par value $0.001 per share	Tax liability	-$549K	-11.2K	-16.35%	$49.14	57.2K	27 Jan 2025	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The reporting person's shares of common stock, par value $0.001 per share (the "Common Stock") reported in this report were earned pursuant to the performance restricted stock units ("PRSUs") of ExlService Holdings, Inc. (the "Company") granted on February 16, 2022. Such shares of Common Stock were deemed earned on January 27, 2025 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2024
F2	Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive 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.

Content

The reporting person's shares of common stock, par value $0.001 per share (the "Common Stock") reported in this report were earned pursuant to the performance restricted stock units ("PRSUs") of ExlService Holdings, Inc. (the "Company") granted on February 16, 2022. Such shares of Common Stock were deemed earned on January 27, 2025 based on the Compensation Committee of the Board of Directors administering the award certifying the achievement of performance targets applicable to the PRSUs for the performance period ending on December 31, 2024

Pursuant to the ExlService Holdings, Inc. 2018 Omnibus Incentive 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.