SEC Form 4 · accession 0001209191-18-049900
VIRTUSA CORP · VRTU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ranjan Kalia
Officer — EVP & Chief Financial Officer
Period of report
Sep 4, 2018
Accepted (ET)
Sep 6, 2018 · 5:19 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 4, 2018 | F | 445 | $58.06 | D | 169,713 | D | |
| common stockF2 | Sep 4, 2018 | F | 7,854 | $58.06 | D | 161,859 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reporting person was granted 16,000 shares of restricted stock units on 11/14/2016 under the 2015 Stock Option and Incentive Plan. 6.25% of these shares will vest each quarter in 16 equal installments beginning on 12/1/16 and each 3 month anniversary thereafter with the final vesting date on 9/1/2020. On 9/1/18, 6.25% of the shares vested and on 9/1/18, the company withheld the number of shares listed above equal to the reporting person's tax liability thereon.
- F2On 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"). 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, 33% vested on 9/1/2018 and 67% will vest on 3/1/2020, based on continued service of the reporting person. The above shares represent the number of shares withheld equal to the reporting person's tax liability thereon.