SEC Form 4 · accession 0001209191-18-015729
VIRTUSA CORP · VRTU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas R Holler
Officer — EVP and CSO
Period of report
Mar 1, 2018
Accepted (ET)
Mar 2, 2018 · 4:49 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 | 8,422 | $47.53 | D | 55,668 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On 11/9/2015, the reporting person was granted performance-based restricted stock units under the Company's 2015 Stock Option and Incentive Plan, 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 achievement of revenue of $600.3 million for FY16, 125.15% 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 3/1/2018, the company withheld the number of shares listed above equal to the reporting person's tax liability thereon.