ExlService director granted 7,705 restricted stock units

Mehta Kamini H reported acquisition or exercise transactions in this Form 4 filing.

Accepted by SEC EDGAR 07/20/2026 - 04:05 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Mehta Kamini H reported acquisition or exercise transactions in this Form 4 filing.

ExlService Holdings, Inc. director Kamini H Mehta received a grant of 7,705 restricted stock units linked to the company’s common stock. Each unit represents a right to one share and vests upon the earlier of the first anniversary, specified board-term events, or a Change in Control, with settlement tied to defined separation or control-change triggers.

Insider Trade Summary

Grant/Award: 7,705 shares

Grant/Award 1 txn

Insider Mehta Kamini H

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units F1, F2	7,705	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 7,705 contracts (Direct)

Holdings Before and After: Restricted Stock Units, 0 to 7,705 contracts (Direct)

Footnotes (2)

1. F1. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.
2. F2. The restricted stock units vest upon the earlier of (i) the first anniversary of the date of grant, (ii) the date on which the reporting person's term as a member of the Board of Directors of ExlService Holdings, Inc. (the "Board") expires if the reporting person is not subsequently elected to a new term on the Board, and (iii) the occurrence of a "Change in Control", as defined in the ExlService Holdings, Inc. 2025 Omnibus Incentive Plan (the "Plan"), and such awards settle upon the earlier of (i) the reporting person's death, (ii) the occurrence of a "Change of Control", as defined in the Plan and (iii) the date that is 180 days following the date on which the reporting person ceases to serve as a member of the Board for any reason other than due to such reporting person's death or, if later, the date of the reporting person's separation from service.

Key Figures

Restricted stock units granted: 7,705 units Grant price per unit: $0.0000 per unit RSUs held after transaction: 7,705 units +1 more

4 metrics

Restricted stock units granted 7,705 units Grant to director Kamini H Mehta on 2026-07-16

Grant price per unit $0.0000 per unit Equity award reported with no cash exercise price

RSUs held after transaction 7,705 units Total restricted stock units following the reported grant

Underlying common shares 7,705 shares Each restricted stock unit represents one share upon settlement

Key Terms

Restricted Stock Units, Change in Control, Omnibus Incentive Plan

3 terms

Restricted Stock Units financial

"security_title: "Restricted Stock Units""

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Change in Control regulatory

"the occurrence of a "Change in Control", as defined in the ... Plan"

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

Omnibus Incentive Plan regulatory

"as defined in the ExlService Holdings, Inc. 2025 Omnibus Incentive Plan"

An omnibus incentive plan is a single, flexible program a company uses to give employees and executives different types of pay tied to performance — for example stock options, restricted shares, cash bonuses and other awards — all governed by one set of rules. It matters to investors because it determines how many new shares may be created, how leaders are motivated and how much the company will spend on compensation over time; think of it as a master toolbox that affects both costs and the total share supply.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What transaction did Kamini H Mehta report for ExlService (EXLS)?

Kamini H Mehta reported the grant of 7,705 restricted stock units tied to ExlService common stock on July 16, 2026. The award is recorded as a direct acquisition, and her reported post-transaction holdings equal the same 7,705 restricted stock units.

How many ExlService (EXLS) shares are underlying Kamini H Mehta’s new award?

The grant covers 7,705 restricted stock units, each representing a contingent right to receive one share of ExlService common stock upon settlement. In total, the award is tied to 7,705 underlying shares of common stock, subject to the plan’s vesting and settlement conditions.

What is the vesting schedule for Kamini H Mehta’s EXLS restricted stock units?

The restricted stock units vest upon the earlier of the first anniversary of the grant date, the expiration of her Board term if not re-elected, or a Change in Control as defined in ExlService’s 2025 Omnibus Incentive Plan.

When do Kamini H Mehta’s ExlService (EXLS) restricted stock units settle?

The units settle upon the earlier of the reporting person’s death, a defined Change of Control, or generally 180 days after she ceases serving on the Board (or later separation), in each case as specified in the 2025 Omnibus Incentive Plan.

Was Kamini H Mehta’s EXLS equity award reported under a Rule 10b5-1 plan?

No. The filing’s Rule 10b5-1 checkbox is not checked, and the transaction is coded as an "A" grant or award acquisition. The disclosure presents this as director compensation rather than trading under a pre-arranged 10b5-1 plan.

What ownership type is reported for Kamini H Mehta’s EXLS restricted stock units?

The filing classifies the 7,705 restricted stock units as direct ownership, indicated by the "D" ownership code. No indirect holding entity (such as a trust or LLC) is referenced for this award, so the position is reported in her own name.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Mehta Kamini H

(Last) (First) (Middle)

C/O EXLSERVICE HOLDINGS, INC

320 PARK AVENUE, 29TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ExlService Holdings, Inc. [ EXLS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	07/16/2026		A		7,705		(2)	(2)	Common Stock, par value $0.001 per share	7,705	$0	7,705	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.

2. The restricted stock units vest upon the earlier of (i) the first anniversary of the date of grant, (ii) the date on which the reporting person's term as a member of the Board of Directors of ExlService Holdings, Inc. (the "Board") expires if the reporting person is not subsequently elected to a new term on the Board, and (iii) the occurrence of a "Change in Control", as defined in the ExlService Holdings, Inc. 2025 Omnibus Incentive Plan (the "Plan"), and such awards settle upon the earlier of (i) the reporting person's death, (ii) the occurrence of a "Change of Control", as defined in the Plan and (iii) the date that is 180 days following the date on which the reporting person ceases to serve as a member of the Board for any reason other than due to such reporting person's death or, if later, the date of the reporting person's separation from service.

Remarks:

Mr. Ayyappan is the Company's General Counsel.

	/s/ Ajay Ayyappan, Attorney-in-Fact	07/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)