Ajay Ayyappan, Executive Vice President and General Counsel/Corporate Secretary of ExlService Holdings, Inc. (NASDAQ: EXLS), executed a set of disclosed transactions on February 18, 2026, according to a Form 4 filing with the Securities and Exchange Commission.
The filing shows Ayyappan sold 2,275 shares of ExlService stock at $30.32 per share, producing proceeds of $68,978. The sale was carried out under a pre-arranged 10b5-1 trading plan that the filing indicates was established on August 11, 2025.
On the same date, Ayyappan also sold 2,882 shares at a price of $30.04 per share to satisfy tax obligations, resulting in proceeds of $86,575. In addition to these sales, the filing records that Ayyappan exercised options to acquire 5,410 shares of ExlService common stock at an exercise price of $0.
At the time of the disclosed transactions, ExlService shares were trading close to their 52-week low of $28.62; the filing notes the stock was quoted at $30.41.
Company metrics and near-term calendar
The company is listed with a market capitalization of $4.78 billion and a reported price-to-earnings ratio of 20.55. According to InvestingPro analysis cited in the company information, ExlService appears on a list of most undervalued stocks on that platform. Investors are noted to have access to a Pro Research Report covering EXLS and more than 1,400 other U.S. equities, and the company has earnings scheduled for February 24.
Operational and corporate developments
Beyond insider transactions, the company disclosed several developments in its product and corporate roster. Over the past year, ExlService secured 10 new U.S. patents aimed at technologies that prepare data for artificial intelligence readiness and automate workflows. The firm highlighted that those technologies are applicable across insurance, healthcare, retail, utilities and financial services.
In leadership changes, ExlService announced the promotion of Raghav Jaggi to Executive Vice President, Insurance Practice Leader, citing his role in expanding the company’s insurance practice.
On capital allocation, ExlService closed a share repurchase agreement in which it bought back 1.55 million shares from Orogen Echo LLC for $63.4 million. That transaction was executed using a five-day volume-weighted average price as the basis for the repurchase.
Related corporate governance update
Separately, Elite Express Holding Inc. disclosed changes to its board and auditing arrangements. The company named Audit Alliance LLP as its new independent auditor for the fiscal year ending November 30, 2025. These moves were presented as part of broader strategic adjustments and operational updates.
All transaction details above derive from the filings and company statements referenced in regulatory documents and corporate disclosures. Where the filing indicates that individual sales were executed under a pre-established 10b5-1 plan, the timing and prices reported reflect those official submissions.