Form 4: ExlService Holdings EVP Ajay Ayyappan Reports Stock Transactions
SEC Form 4
EVP & General Counsel/Corp. Sec'y Ajay Ayyappan reports the vesting and subsequent disposal of restricted stock units for tax purposes.
Summary
- On February 18, 2025, Ajay Ayyappan, EVP & General Counsel/Corp. Sec'y of ExlService Holdings, Inc., reported transactions involving common stock and restricted stock units.
- These transactions involved the vesting of restricted stock units and the subsequent disposal of shares to cover tax obligations.
- Specifically, 5,265, 2,915, and 2,495 restricted stock units converted into common stock.
- Simultaneously, 2,804, 1,553, and 1,329 shares were disposed of at a price of $50.93 to satisfy tax withholding requirements.
- Following these transactions, Ayyappan directly owns 45,975 shares of common stock and 4,990 restricted stock units.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing detailing stock transactions, which is neutral in sentiment. The transactions are part of a pre-existing compensation plan.
Industry Context
This is a routine disclosure related to insider transactions and is common for publicly traded companies.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the issuance of new shares upon vesting of restricted stock units.
Key Dates
| Date | Description |
|---|---|
| 02/17/2021 | Reporting person was granted 4,210 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. |
| 02/17/2022 | 25 percent of the restricted stock units became vested. |
| 02/16/2022 | Reporting person was granted 2,332 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. |
| 02/17/2023 | An additional 25 percent of the restricted stock units became vested. |
| 02/16/2023 | 25 percent of the restricted stock units became vested. |
| 02/15/2023 | Reporting person was granted 1,996 (pre-split) restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date. |
| 02/17/2024 | An additional 25 percent of the restricted stock units became vested. |
| 02/16/2024 | An additional 25 percent of the restricted stock units became vested. |
| 02/15/2024 | 25 percent of the restricted stock units became vested. |
| 02/18/2025 | Date of transactions: vesting of restricted stock units and disposal of shares for tax purposes. |
| 02/17/2025 | The remaining balance of 25 percent of the restricted stock units became vested. |
| 02/16/2025 | An additional 25 percent of the restricted stock units became vested. |
| 02/15/2025 | An additional 25 percent of the restricted stock units became vested. |
| 02/16/2026 | The remaining balance of 25 of the restricted stock units will vest. |
| 02/15/2027 | The remaining balance of 25 of the restricted stock units will vest. |
| 02/20/2025 | Date of signature. |
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