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Filing Details

Accession Number:: 0001209191-12-019004
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-03-19 13:00:00
Reporting Period:: 2012-03-16

Filing Date:: 2012-03-19
Accepted Time:: 2012-03-19 16:42:49
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1207074	Virtusa Corp	VRTU	Services-Computer Programming Services (7371)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1520547	Samir Dhir	C/O Virtusa Corporation Westborough MA 01581	Svp, Global Services	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2012-03-16	5,000	$9.62	29,770	No	4	M	Direct
Common Stock	Disposition	2012-03-16	5,000	$16.02	24,770	No	4	S	Direct
Common Stock	Disposition	2012-03-16	1,926	$15.93	22,844	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Non-qualified stock options	Disposition	2012-03-16	5,000	$9.62	5,000	$9.62

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
7,061		2020-05-17	No	4	M	Direct

Footnotes

Includes 2,627 shares of performance based restricted stock granted under the Company's 2007 Stock Option and Incentive Plan (the "2007 Plan")on May 16, 2011, which vest upon achievement of certain revenue targets for the Company's fiscal year ending March 31, 2012 (pro-rated down to 75% of the shares upon 96.8% achievement; 50% on 92.2% achievement; no vesting below that threshhold). The grantee retains voting rights with respect to such shares unless and to the extent that such shares do not vest and are forfeited.
The exercises of the options and sales of underlying stock were executed in multiple trades at prices ranging from $15.95 to $16.09 per share. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
The sale of vested restricted stock was executed in multiple trades at prices ranging from $15.89 to $16.02 per share. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
The reporting person was granted options to purchase 14,061 shares of common stock on May 17, 2010 under the Company's 2007 Stock Option and Incentive Plan, of which, 25% of the shares granted vest on February 15, 2011 and the remaining shares vest at a rate of 6.25% in 12 equal installments each 3 months thereafter.