---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-035232"
form_type: "8-K"
ticker: "EXLS"
cik: "0001297989"
company_name: "ExlService Holdings, Inc."
filed_at: "2024-03-18T23:59:59+00:00"
generated_at: "2026-06-04T14:39:37.600961+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# ExlService enters $125M accelerated share repurchase with Citibank under $500M buyback program

## Summary
- Company pays Citibank $125 million upfront for initial share delivery under ASR agreement.
- Transaction part of previously announced $500 million common stock repurchase program.
- Final share count based on daily VWAP over pricing period, subject to adjustments.
- Funding from available cash or credit facility; Citibank may deliver additional shares or receive cash at settlement.
- Agreement includes standard terms for accelerated buyback, executed on March 15, 2024.

## SEC filing metadata
- accession: 0001104659-24-035232
- form_type: 8-K
- ticker: EXLS
- cik: 0001297989
- company_name: ExlService Holdings, Inc.
- filed_at: 2024-03-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1297989/000110465924035232/0001104659-24-035232-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1297989/000110465924035232/tm248965d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-035232
- JSON: https://secwatch.observer/filing/0001104659-24-035232.json
- Plain text: https://secwatch.observer/filing/0001104659-24-035232.txt

## Key facts
- Material Agreements
  ExlService Holdings, Inc. entered into ASR Agreement with Citibank, N.A. valued at $125 million (effective 2024-03-15).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Citibank, N.A.
  - Value: $125 million
  - Effective: 2024-03-15
  source text: On March 15, 2024, ExlService Holdings, Inc. (the “Company”) entered into a master confirmation (the “Master ASR Confirmation”) and a supplemental confirmation (together with the Master ASR Confirmation, the “ASR Agreement”), with Citibank, N.A. (“Citibank”), as part of the Company’s previously announced $500 million common stock repurchase program. Under the ASR Agreement, the Company will pay an aggregate amount of $125 million to Citibank for an initial number of shares of the Company’s common stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1297989/000110465924035232/0001104659-24-035232-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.