SEC Form 4 · accession 0001209191-15-045376
VIRTUSA CORP · VRTU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Roger Keith Modder
Officer — EVP & COO
Period of report
May 20, 2015
Accepted (ET)
May 21, 2015 · 4:26 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001207074
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| common stockF1 | May 20, 2015 | A | 16,421 | — | A | 193,777 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reporting person was granted performance based, deferred restricted stock awards under the Company's 2007 Stock Option and Incentive Plan on 8/8/2014, which awards vest only upon the Company's achievement of certain revenue targets for the fiscal year ended March 31, 2015 ("FY15"). To the extent that the shares conditionally vest per the performance targets for FY15, then 33% of such shares vest on 9/1/15 and the remaining 67% vest on 3/1/17. Based on the Company's revenue of $479 million for FY15, on 5/20/15, our board approved that the reporting person earned 16,421 shares, of which 33% vest on 9/1/15 and 67% vest on 3/1/17, based on continued service of the reporting person.