ExlService Holdings Inc. (EXLS) Insider Trading

Last 12 months

Insiders sold $3.13M and bought nothing on the open market.

79% of the selling was scheduled in advance under 10b5-1 plans. Executive Vice President Vishal Chhibbar sold $176k on Aug 11, 44% of their stake, outside a plan. The last open-market buy by an executive or director was in Mar 2023.

Net open-market

−$3.13M

0 buys · 12 sales

Under a 10b5-1 plan

79%

of the value sold

Insiders who bought / sold

0 / 3

executives and directors

Last open-market buy

Mar 2023

Mar 17, 2023

Get an email when EXLS's executives or directors buy, or make a large sale outside a plan.

Trades · last 2 years

Date	Insider	Trade	Shares	Price	Value	Of their stake	Filing
Oct 1	Vikas Bhalla President of EXL	Sold10b5-1 plan	11,000	$35.38	$389k	9.1%	Form 4
Sep 1	Vikas Bhalla President of EXL	Sold10b5-1 plan	10,000	$38.17	$382k	7.7%	Form 4
Aug 11	Vishal Chhibbar Executive Vice President	SoldNo plan	5,000	$35.10	$176k	44%	Form 4
Aug 3	Vikas Bhalla President of EXL	Sold10b5-1 plan	11,000	$34.99	$385k	7.8%	Form 4
Jul 1	Vikas Bhalla President of EXL	Sold10b5-1 plan	12,000	$26.47	$318k	7.8%	Form 4
Jun 4	Vikas Bhalla President of EXL	Sold10b5-1 plan	12,000	$30.22	$363k	7.3%	Form 4
May 20	Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y.	Sold10b5-1 plan	5,093	$29.11	$148k	9.4%	Form 4
Mar 2	Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y.	Sold10b5-1 plan	1,679	$30.39	$51k	3.0%	Form 4
Feb 23	Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y.	Sold10b5-1 plan	1,197	$29.79	$36k	2.2%	Form 4
Feb 18	Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y.	Sold10b5-1 plan 2 parts	2,275	$30.32 average	$69k	4.1%	Form 4
Jan 27	Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y.	Sold10b5-1 plan 2 parts	8,114	$42.53 average	$345k	13%	Form 4
Dec 2, 2025	Vikas Bhalla President of EXL	SoldNo plan	11,774	$39.99	$471k	9.3%	Form 4
Sep 10, 2025	Vikas Bhalla President of EXL	SoldNo plan	8,000	$43.76	$350k	5.9%	Form 4
May 8, 2025	Vikas Bhalla President of EXL	SoldNo plan	25,000	$46.11	$1.15M	16%	Form 4
May 2, 2025	Jaynie M Studenmund Director	SoldNo plan	14,580	$47.53	$693k	100%	Form 4
Mar 11, 2025	Anita Mahon Executive Vice President	Sold10b5-1 plan	10,558	$45.92	$485k	10%	Form 4
Feb 28, 2025	Anita Mahon Executive Vice President	Sold10b5-1 plan	2,729	$48.32	$132k	2.5%	Form 4
Feb 28, 2025	Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y.	Sold10b5-1 plan	1,865	$48.32	$90k	4.4%	Form 4
Feb 19, 2025	Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y.	Sold10b5-1 plan 3 parts	4,989	$50.70 average	$253k	11%	Form 4
Feb 19, 2025	Anita Mahon EVP & Business Head Healthcare	Sold10b5-1 plan 3 parts	6,071	$50.70 average	$308k	5.5%	Form 4
Feb 10, 2025	Ajay Ayyappan EVP & Gen Counsel/Corp. Sec'y.	Sold10b5-1 plan 2 parts	16,186	$51.50 average	$834k	28%	Form 4
Jan 27, 2025	Maurizio Nicolelli Executive Vice President & CFO	SoldNo plan	13,753	$49.14	$676k	6.6%	Form 4
Nov 19, 2024	Jaynie M Studenmund Director	SoldNo plan	3,645	$44.05	$161k	20%	Form 4
Nov 14, 2024	Rohit Kapoor Chairman & CEO	SoldNo plan	100,000	$45.31	$4.53M	6.8%	Form 4
Nov 12, 2024 – Nov 13, 2024	Rohit Kapoor Chairman & CEO	SoldNo plan 2 parts	200,000	$46.62 average	$9.32M	12%	Form 4
Nov 8, 2024	Rohit Kapoor Chairman & CEO	SoldNo plan	100,000	$45.66	$4.57M	7.6%	Form 4
Nov 6, 2024 – Nov 7, 2024	Rohit Kapoor Chairman & CEO	SoldNo plan 2 parts	200,000	$45.21 average	$9.04M	15%	Form 4
Nov 4, 2024 – Nov 5, 2024	Rohit Kapoor Chairman & CEO	SoldNo plan 2 parts	200,000	$42.41 average	$8.48M	12%	Form 4
Nov 4, 2024	Vikas Bhalla President & Head of Insurance	SoldNo plan	22,813	$41.86	$955k	18%	Form 4
Nov 1, 2024	Rohit Kapoor Chairman & CEO	SoldNo plan	100,000	$41.45	$4.14M	4.4%	Form 4

Oct 110b5-1 plan
Vikas Bhalla
President of EXL · sold 11,000 at $35.38
$389k
9.1% of stake
Sep 110b5-1 plan
Vikas Bhalla
President of EXL · sold 10,000 at $38.17
$382k
7.7% of stake
Aug 11No plan
Vishal Chhibbar
Executive Vice President · sold 5,000 at $35.10
$176k
44% of stake
Aug 310b5-1 plan
Vikas Bhalla
President of EXL · sold 11,000 at $34.99
$385k
7.8% of stake
Jul 110b5-1 plan
Vikas Bhalla
President of EXL · sold 12,000 at $26.47
$318k
7.8% of stake
Jun 410b5-1 plan
Vikas Bhalla
President of EXL · sold 12,000 at $30.22
$363k
7.3% of stake
May 2010b5-1 plan
Ajay Ayyappan
EVP & Gen Counsel/Corp. Sec'y. · sold 5,093 at $29.11
$148k
9.4% of stake
Mar 210b5-1 plan
Ajay Ayyappan
EVP & Gen Counsel/Corp. Sec'y. · sold 1,679 at $30.39
$51k
3.0% of stake
Feb 2310b5-1 plan
Ajay Ayyappan
EVP & Gen Counsel/Corp. Sec'y. · sold 1,197 at $29.79
$36k
2.2% of stake
Feb 1810b5-1 plan
Ajay Ayyappan
EVP & Gen Counsel/Corp. Sec'y. · sold 2,275 at avg $30.32
$69k
4.1% of stake
Jan 2710b5-1 plan
Ajay Ayyappan
EVP & Gen Counsel/Corp. Sec'y. · sold 8,114 at avg $42.53
$345k
13% of stake
Dec 2, 2025No plan
Vikas Bhalla
President of EXL · sold 11,774 at $39.99
$471k
9.3% of stake
Sep 10, 2025No plan
Vikas Bhalla
President of EXL · sold 8,000 at $43.76
$350k
5.9% of stake
May 8, 2025No plan
Vikas Bhalla
President of EXL · sold 25,000 at $46.11
$1.15M
16% of stake
May 2, 2025No plan
Jaynie M Studenmund
Director · sold 14,580 at $47.53
$693k
100% of stake
Mar 11, 202510b5-1 plan
Anita Mahon
Executive Vice President · sold 10,558 at $45.92
$485k
10% of stake
Feb 28, 202510b5-1 plan
Anita Mahon
Executive Vice President · sold 2,729 at $48.32
$132k
2.5% of stake
Feb 28, 202510b5-1 plan
Ajay Ayyappan
EVP & Gen Counsel/Corp. Sec'y. · sold 1,865 at $48.32
$90k
4.4% of stake
Feb 19, 202510b5-1 plan
Ajay Ayyappan
EVP & Gen Counsel/Corp. Sec'y. · sold 4,989 at avg $50.70
$253k
11% of stake
Feb 19, 202510b5-1 plan
Anita Mahon
EVP & Business Head Healthcare · sold 6,071 at avg $50.70
$308k
5.5% of stake
Feb 10, 202510b5-1 plan
Ajay Ayyappan
EVP & Gen Counsel/Corp. Sec'y. · sold 16,186 at avg $51.50
$834k
28% of stake
Jan 27, 2025No plan
Maurizio Nicolelli
Executive Vice President & CFO · sold 13,753 at $49.14
$676k
6.6% of stake
Nov 19, 2024No plan
Jaynie M Studenmund
Director · sold 3,645 at $44.05
$161k
20% of stake
Nov 14, 2024No plan
Rohit Kapoor
Chairman & CEO · sold 100,000 at $45.31
$4.53M
6.8% of stake
Nov 12, 2024 – Nov 13, 2024No plan
Rohit Kapoor
Chairman & CEO · sold 200,000 at avg $46.62
$9.32M
12% of stake
Nov 8, 2024No plan
Rohit Kapoor
Chairman & CEO · sold 100,000 at $45.66
$4.57M
7.6% of stake
Nov 6, 2024 – Nov 7, 2024No plan
Rohit Kapoor
Chairman & CEO · sold 200,000 at avg $45.21
$9.04M
15% of stake
Nov 4, 2024 – Nov 5, 2024No plan
Rohit Kapoor
Chairman & CEO · sold 200,000 at avg $42.41
$8.48M
12% of stake
Nov 4, 2024No plan
Vikas Bhalla
President & Head of Insurance · sold 22,813 at $41.86
$955k
18% of stake
Nov 1, 2024No plan
Rohit Kapoor
Chairman & CEO · sold 100,000 at $41.45
$4.14M
4.4% of stake

How to read this. Insiders sell for many reasons: taxes, diversifying, a house. Open-market buys are rarer and say more. A 10b5-1 plan is a trading schedule set up months in advance, so those sales were not timed on news. Large holders (funds and 10% owners) are listed under Everything but not counted as insiders. If you own or watch EXLS, we send a push when an executive buys or makes a large sale outside a plan.

Source: SEC Form 4 filings, filed within two business days of each trade and checked for new ones every hour.

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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.

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