SEC Form 4 · accession 0001209191-16-126500
VIRTUSA CORP · VRTU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Raj Rajgopal
Officer — President, ETS
Period of report
Jun 7, 2016
Accepted (ET)
Jun 8, 2016 · 3:48 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 | Jun 7, 2016 | A | 38,657 | — | A | 122,467 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reporting person was granted performance-based restricted stock units under the Company's 2015 Stock Option and Incentive Plan on 11/9/2015, which awards vest only upon the Company's achievement of certain revenue targets for the fiscal year ended March 31, 2016 ("FY16"). Based on the Company's revenue of $600.3 million for FY16, on 6/7/2016, our board approved that the reporting person earned the above number of shares, of which 33% vest on 9/1/2016 and 67% vest on 3/1/2018, based on continued service of the reporting person.