Ajay Ayyappan - 27 Feb 2026 Form 4 Insider Report for ExlService Holdings, Inc. (EXLS)

Reporting relationship: EVP & Gen Counsel/Corp. Sec'y.
Issuer ticker: EXLS
Reported as of: 27 Feb 2026
Net transaction value: -$116,910
SEC form: 4
Accepted by SEC: 03 Mar 2026, 17:40:35 UTC
Prior SEC filing: 25 Feb 2026
Next SEC filing: 22 May 2026
Source filing: View source filing
Reporting owner signature: /s/ Ajay Ayyappan

Key filing fact

Ajay Ayyappan filed Form 4 for ExlService Holdings, Inc. (EXLS) on 03 Mar 2026.

Key facts

This page summarizes Ajay Ayyappan's Form 4 filing for ExlService Holdings, Inc. (EXLS).
4 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 03 Mar 2026, 17:40.

Change

Previous filing in this sequence was filed on 25 Feb 2026.
Current net transaction value: -$116,910.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001762098 Primary reporting owner

AYYAPPAN AJAY

Relationship: EVP & Gen Counsel/Corp. Sec'y.
Address: 320 PARK AVENUE, 29TH FLOOR, NEW YORK
Signature: /s/ Ajay Ayyappan
Signature date: 03 Mar 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

EXLS transaction

Common Stock, par value $0.001 per share

Options Exercise

Transaction value: $0
Shares: +3,991
Change %: +7.4%
Price: $0.000000
Shares after: 57,892
Date: 27 Feb 2026
Ownership: Direct
Footnotes: F1

EXLS transaction

Common Stock, par value $0.001 per share

Tax liability

Transaction value: $65,885
Shares: -2,126
Change %: -3.7%
Price: $30.99
Shares after: 55,766
Date: 27 Feb 2026
Ownership: Direct
Footnotes: F2

EXLS transaction

Common Stock, par value $0.001 per share

Sale

Transaction value: $51,025
Shares: -1,679
Change %: -3%
Price: $30.39
Shares after: 54,087
Date: 02 Mar 2026
Ownership: Direct
Footnotes: F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

EXLS transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -3,991
Change %: -33%
Price: $0.000000
Shares after: 7,982
Date: 27 Feb 2026
Ownership: Direct
Underlying class: Common Stock, par value $0.001 per share
Underlying amount: 3,991
Exercise price
Footnotes: F1, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 4 footnotes

Footnote 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.

Footnote 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.

Footnote F3

This sale was made pursuant to a 10b5-1 plan previously entered into by the reporting person on August 11, 2025.

Footnote F4

On February 27, 2024, the reporting person was granted 15,964 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 27, 2025, an additional 25 percent of the restricted stock units became vested on February 27, 2026, an additional 25 percent of the restricted stock units will vest on February 27, 2027, and the remaining balance of 25 percent of the restricted stock units will vest on February 27, 2028.