SEC Form 4 · accession 0001209191-18-033464
VIRTUSA CORP · VRTU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kris A Canekeratne
Officer — Chairman & CEO · Director
Period of report
May 23, 2018
Accepted (ET)
May 25, 2018 · 3:14 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 | May 23, 2018 | A | 254,310 | — | A | 768,213 | D | |
| Common Stock | holding | — | — | — | 195,261 | I | Held by Spouse | |
| Common Stock | holding | — | — | — | 41,110 | I | Held by Kris Canekeratne Irreovocable Trust | |
| Common Stock | holding | — | — | — | 41,110 | I | Held by Irrevocable Trust of spouse | |
| Common Stock | holding | — | — | — | 14,692 | I | Held by Kavan A. Canekeratne IDI Trust | |
| Common stock | holding | — | — | — | 14,692 | I | Held by Shane A. Canekeratne IDI Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On 8/10/2017, the reporting person was granted a performance-based restricted stock unit award under the Company's 2015 Stock Option and Incentive Plan, which awards vest only upon the Company's achievement of two weighted performance metrics: revenue (50%) and non-GAAP operating income targets (50%) for fiscal year ending 3/31/18 ("FY18"). On 5/23/18, our board approved that the reporting person earned the above number of shares based on the Company's achievement of i) revenue of $1,020.67 million and ii) Non-GAAP operating income of $87.08 million for FY18. Of the shares that were earned, 33% will vest on 9/1/2018 and 67% will vest on 3/1/2020, based on continued service of the reporting person.