ExlService Holdings, Inc.
For the period ended Sep 30, 2025. Filed Oct 28, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 28, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
Unregistered Sales of Equity Securities
None.
Use of Proceeds
None.
Purchases of Equity Securities by the Issuer
During the three months ended September 30, 2025, purchases of common stock were as follows:
| Shares Purchased from Employees in connection with satisfaction of Withholding Tax Obligations · Shares Purchased as Part of Publicly Announced Programs · Total Number of Shares Purchased · Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs | ||||||
|---|---|---|---|---|---|---|
| Period · Number ofShares Purchased · Average PricePaid per share · Number ofShares Purchased · Average PricePaid per share | ||||||
| July 1, 2025 through July 31, 2025 | — | $— | 517,000 | $43.44 | 517,000 | $250,636,306 |
| August 1, 2025 through August 31, 2025 | — | $— | 2,345,713 | $43.43 | 2,345,713 | $123,769,283 |
| September 1, 2025 through September 30, 2025 | — | $— | 211,363 | $43.25 | 211,363 | $114,628,029 |
| Total | — | $— | 3,074,076 | $43.42 | 3,074,076 | $— |
On February 26, 2024, the Company’s board of directors authorized a $500 million (excluding excise tax) common stock repurchase program beginning March 1, 2024 (the “2024 Repurchase Program”).
On July 29, 2025, we entered into the 2025 ASR Agreement with Citibank to repurchase shares of our common stock for an aggregate purchase price of $125 million, as part of our 2024 Repurchase Program. Upon payment of the aggregate purchase price of $125 million, we received an initial delivery of 2,302,556 shares of our common stock at an initial price of $43.43 per share, representing 80% of the aggregate purchase price. See Note 19 – Capital Structure to our unaudited consolidated financial statements under Part I, Item 1, “Financial Statements” for further details.
Under our repurchase program, shares may be purchased by us from time to time from the open market and through private transactions, or otherwise, as determined by our management as market conditions warrant. We have structured open market purchases under our repurchase program to comply with Rule 10b-18 under the Exchange Act. Repurchases may be discontinued at any time by management. Repurchased shares are recorded as treasury shares and are held until our board of directors designates that these shares be retired or used for other purposes.
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