AYYAPPAN AJAY (SVP & Gen Counsel/Corp. Sec'y.) sold 4.1% of their position (2.27K shares) of EXLSERVICE HOLDINGS, INC. on the open market

Open‑market sale worth $69.0K — a minor trim. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 2 sales

AYYAPPAN AJAY

Filed: 2/19/2026ACC: 0001628280-26-009902

InsiderAYYAPPAN AJAYCIK 1762098

→

IssuerEXLSERVICE HOLDINGS, INC.CIK 1297989

Officer· SVP & Gen Counsel/Corp. Sec'y.

Since Dec 2018

-5.16K

Net shares

Net seller

$155.6K

Total sold

Open market trades

0B · 2S

Total transactions

5.41K acquired · 10.57K disposed

Non-Derivative Transactions6

Common Stock, par value $0.001 per share

Direct

M · Option Exercise

+2.92K

Price / share

—

Trade value

—

% of position

5.4%

2/17/2026

53.52K→56.43K

Common Stock, par value $0.001 per share

Direct

F · Tax Withholding

−1.55K

Price / share

$30.04

Trade value

$46.65K

% of position

2.8%

2/17/2026

56.43K→54.88K

Common Stock, par value $0.001 per share

Direct

M · Option Exercise

+2.50K

Price / share

—

Trade value

—

% of position

4.5%

2/17/2026

54.88K→57.37K

Common Stock, par value $0.001 per share

Direct

F · Tax Withholding

−1.33K

Price / share

$30.04

Trade value

$39.92K

% of position

2.3%

2/17/2026

57.37K→56.04K

Common Stock, par value $0.001 per share

Direct

S · Sale

−1.23K

Price / share

$30.32

Trade value

$37.17K

% of position

2.2%

2/18/2026

56.04K→54.82K

Common Stock, par value $0.001 per share

Direct

S · Sale

−1.05K

Price / share

$30.32

Trade value

$31.81K

% of position

1.9%

2/18/2026

54.82K→53.77K

Total

Net shares

+253.00

Net value

-$155.55K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock, par value $0.001 per share Direct	2/17/2026	M · Option Exercise	+2.92K	—	—	5.4%	53.52K	56.43K
Common Stock, par value $0.001 per share Direct	2/17/2026	F · Tax Withholding	−1.55K	$30.04	$46.65K	2.8%	56.43K	54.88K
Common Stock, par value $0.001 per share Direct	2/17/2026	M · Option Exercise	+2.50K	—	—	4.5%	54.88K	57.37K
Common Stock, par value $0.001 per share Direct	2/17/2026	F · Tax Withholding	−1.33K	$30.04	$39.92K	2.3%	57.37K	56.04K
Common Stock, par value $0.001 per share Direct	2/18/2026	S · Sale	−1.23K	$30.32	$37.17K	2.2%	56.04K	54.82K
Common Stock, par value $0.001 per share Direct	2/18/2026	S · Sale	−1.05K	$30.32	$31.81K	1.9%	54.82K	53.77K
Total			+253.00		-$155.55K

Derivative Transactions2

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Stock, par value $0.001 per share

2.92K shares

−2.92K

Strike price

Held after

0.00

Exercisable

—

2/17/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Stock, par value $0.001 per share

2.50K shares

−2.50K

Strike price

Held after

2.50K

Exercisable

—

2/17/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Restricted Stock Units Direct	Common Stock, par value $0.001 per share2.92K shares	2/17/2026	M · Option Exercise	−2.92K		—	0.00
Restricted Stock Units Direct	Common Stock, par value $0.001 per share2.50K shares	2/17/2026	M · Option Exercise	−2.50K		—	2.50K