Vikas Bhalla - 21 Jan 2026 Form 4 Insider Report for ExlService Holdings, Inc. (EXLS)

Role
President of EXL
Signature
/s/ Ajay Ayyappan, Attorney-in-Fact
Issuer symbol
EXLS
Transactions as of
21 Jan 2026
Net transactions value
+$180,301
Form type
4
Filing time
23 Jan 2026, 17:11:17 UTC
Previous filing
05 Jan 2026
Next filing
28 Jan 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Bhalla Vikas President of EXL 320 PARK AVENUE, 29TH FLOOR, NEW YORK /s/ Ajay Ayyappan, Attorney-in-Fact 23 Jan 2026 0001373633

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 $282,944 +6,795 +5.5% $41.64 130,040 21 Jan 2026 Direct F1
transaction EXLS Common Stock, par value $0.001 per share Tax liability $102,643 -2,465 -1.9% $41.64 127,575 21 Jan 2026 Direct

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 -6,960 -100% $0.000000 0 21 Jan 2026 Common Stock, par value $0.001 per share 6,960 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the shares of common stock of ExlService Holdings, Inc. (the "Company") issued in respect of the reporting person's restricted stock units that vested as of March 31, 2024, but which were settled as of January 21, 2026. Due to administrative delay in settlement, the number of shares of common stock issued to the reporting person was reduced based on applicable U.S. tax rules and regulations.
F2 Represents restricted stock units received under a share matching plan in connection with the officer's purchase of common stock, par value $0.001 per share of ExlService Holdings, Inc. (the "Company").
F3 On March 31, 2022, the reporting person was granted 20,885 restricted stock units, after adjustment for the 5-for-1 forward stock split, effective August 1, 2023, vesting in two installment installments beginning on the second anniversary of the grant date. 33% of the restricted stock units became vested on March 31, 2024, and the remaining balance of 67% of the restricted stock units became vested on March 31, 2025. This transaction represents the settlement, as of January 21, 2026, of the shares that vested in 2024.

Remarks:

Mr. Ayyappan is the Company's General Counsel.