SEC Form 4 · accession 0001209191-16-140066
VIRTUSA CORP · VRTU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sundararajan Narayanan
Officer — EVP, CPO and Global Head of HR
Period of report
Sep 1, 2016
Accepted (ET)
Sep 6, 2016 · 4:31 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 | Sep 1, 2016 | F | 41 | $26.21 | D | 31,236 | D | |
| Common StockF2 | Sep 1, 2016 | F | 846 | $26.21 | D | 30,390 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On August 2, 2012, the reporting person was granted 2,000 shares of restricted stock which vested in 16 equal installments at a rate of 6.25% quarterly over 4 years under the Company's 2007 Stock Option and Incentive Plan ("2007 Plan"). The final installment vested on 9/1/16 and on 9/1/16, the company withheld the number of shares equal to the tax liability thereon.
- F2The reporting person was granted performance-based restricted stock units under the Company's 2007 Stock Option and Incentive Plan on 07/31/2015, 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, 33% vest on 9/1/2016 and 67% vest on 3/1/2018, based on continued service of the reporting person. On 9/1/16, the company withheld the number of shares listed above equal to the reporting person's tax liability thereon.