SEC Form 4 · accession 0001209191-18-015699
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
Mar 1, 2018
Accepted (ET)
Mar 2, 2018 · 4:43 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, 2018 | F | 1,629 | $47.53 | D | 38,840 | 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 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, 100% of the target shares were earned, of which 33% vested on 9/1/2016 and 67% vest on 3/1/2018, based on continued service of the reporting person. On 3/1/18, the company withheld the number of shares listed above equal to the reporting person's tax liability thereon.