Ajay Ayyappan - 26 Jan 2026 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
26 Jan 2026
Net transactions value
-$820,823
Form type
4
Filing time
28 Jan 2026, 17:09:57 UTC
Previous filing
23 Jan 2026
Next filing
19 Feb 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
AYYAPPAN AJAY EVP & Gen Counsel/Corp. Sec'y. 320 PARK AVENUE, 29TH FLOOR, NEW YORK /s/ Ajay Ayyappan 28 Jan 2026 0001762098

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 Award $0 +6,957 +13% $0.000000 59,570 26 Jan 2026 Direct F1
transaction EXLS Common Stock, par value $0.001 per share Tax liability $164,079 -3,848 -6.5% $42.64 55,722 26 Jan 2026 Direct F1, F2
transaction EXLS Common Stock, par value $0.001 per share Award $0 +13,216 +24% $0.000000 68,938 26 Jan 2026 Direct F1
transaction EXLS Common Stock, par value $0.001 per share Tax liability $311,656 -7,309 -11% $42.64 61,629 26 Jan 2026 Direct F1, F2
transaction EXLS Common Stock, par value $0.001 per share Sale $226,089 -5,316 -8.6% $42.53 56,313 27 Jan 2026 Direct F3
transaction EXLS Common Stock, par value $0.001 per share Sale $118,999 -2,798 -5% $42.53 53,515 27 Jan 2026 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 15, 2023. Such shares of Common Stock were deemed earned on January 26, 2026, based on the Compensation and Talent Management 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, 2025.
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.
F3 This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on August 11, 2025.