SEC Form 4 · accession 0001209191-17-017401
VIRTUSA CORP · VRTU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Samir Dhir
Officer — President, BFS
Period of report
Mar 1, 2017
Accepted (ET)
Mar 3, 2017 · 4:04 pm EST
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 | Mar 1, 2017 | F | 2,196 | $31.75 | D | 66,418 | 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"). Based on the Company's revenue of $479 million for FY15, on 5/20/15, our Board approved the reporting person earning 80.52% of the shares granted or 10,626 shares, of which 33% vest on 9/1/15 and 67% vest on 3/1/17, based on continued service of the reporting person. On 3/1/17, the company withheld the number of shares listed above equal to the reporting person's tax liability thereon.