Ajay Ayyappan - Feb 15, 2023 Form 4 Insider Report for ExlService Holdings, Inc. (EXLS)

Role: SVP & Gen Counsel/Corp. Sec'y.
Signature: /s/ Lazbart Oseni, Attorney-in-Fact
Stock symbol: EXLS
Transactions as of: Feb 15, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/17/2023, 04:09 PM
Previous filing: Feb 2, 2023
Next filing: Feb 21, 2023
SEC: View on sec.gov

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	Award	$0	+2K		$0.00	2K	Feb 15, 2023	Common Stock, par value $0.001 per share	2K		Direct	F1, F2

Showing 1 to 1 of 1 entries

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of the Company's common stock upon settlement.
F2	The restricted stock units will vest in four equal annual installments, beginning on February 15, 2024. Vesting will be accelerated upon certain termination of employment events and upon a "Change in Control" (as defined in the ExlService Holdings, Inc. 2018 Omnibus Incentive Plan).

Remarks:

Note: On February 15, 2023 the reporting person was also granted performance-based restricted stock units that are subject to material conditions beyond the reporting person's control, and, therefore, not considered derivative securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, and excluded from this report. Mr. Oseni is the Company's Head of Administration and Accounts.