---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-030831"
form_type: "8-K"
ticker: "EXLS"
cik: "0001297989"
company_name: "ExlService Holdings, Inc."
filed_at: "2026-03-18T23:59:59+00:00"
generated_at: "2026-05-15T09:49:59.940995+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# EXLS enters $125M accelerated share repurchase; director Sahney to step down

## Summary
- Entered $125M accelerated share repurchase with Morgan Stanley under $500M board authorization.
- Received initial 3,346,720 shares (~$100M based on March 16 close); final settlement by Q2 2026.
- Director Nitin Sahney will not stand for re-election at 2026 annual meeting; no disagreement cited.
- Transaction funded with cash on hand and existing credit facility.
- Repurchase expected to reduce diluted share count; price based on VWAP less discount.

## SEC filing metadata
- accession: 0001104659-26-030831
- form_type: 8-K
- ticker: EXLS
- cik: 0001297989
- company_name: ExlService Holdings, Inc.
- filed_at: 2026-03-18T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1297989/000110465926030831/0001104659-26-030831-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1297989/000110465926030831/tm269205d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-030831
- JSON: https://secwatch.observer/filing/0001104659-26-030831.json
- Plain text: https://secwatch.observer/filing/0001104659-26-030831.txt

## Key facts
- Material Agreements
  ExlService Holdings, Inc. entered into ASR Agreement with Morgan Stanley & Co. LLC valued at $125 million (effective 2026-03-16).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Morgan Stanley & Co. LLC
  - Value: $125 million
  - Effective: 2026-03-16
  source text: On March 16, 2026, ExlService Holdings, Inc. (the “ Company ”) entered into a fixed dollar accelerated share repurchase transaction (the “ ASR Transaction ”) pursuant to a confirmation (the “ ASR Agreement ”) with Morgan Stanley & Co. LLC (“ Morgan Stanley ”) to repurchase an aggregate of $125 million of shares of the Company’s common stock, par value $0.001 per share (the “ Common Stock ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1297989/000110465926030831/0001104659-26-030831-index.htm

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