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Filing Details

Accession Number:: 0001209191-10-016525
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-03-12 12:00:00
Reporting Period:: 2010-03-10

Filing Date:: 2010-03-12
Accepted Time:: 2010-03-12 13:23:05
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
1406394	Keith Roger Modder	C/O Virtusa Corporation 2000 West Park Drive Westborough MA 01581	Pres., Asia, Evp Global Serv.	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	2010-03-10	3,200	$0.31	46,855	No	4	M	Direct
Common Stock	Disposition	2010-03-10	3,200	$9.91	43,655	No	4	S	Direct
Common Stock	Acquisiton	2010-03-11	800	$0.31	44,455	No	4	M	Direct
Common Stock	Acquisiton	2010-03-11	800	$9.90	43,655	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	S	Direct
No	4	M	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 option	Disposition	2010-03-10	3,200	$0.31	3,200	$0.31
Common Stock	non-qualified stock option	Disposition	2010-03-11	800	$0.31	800	$0.31

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
7,843		2013-05-21	No	4	M	Direct
7,043		2013-05-21	No	4	M	Direct

Footnotes

These shares were exercised and sold pursuant to a 10b5-1 Plan Agreement dated as of March 17, 2009 entered into by and between Mr. Modder and an investment bank.
Includes 8,655 shares of performance based restricted stock granted under the Company's 2007 Stock Option and Incentive Plan in August 4 2009, of which 25% would vest only upon the Company's achievement of certain revenue and operating income targets for the fiscal year ending March 31, 2010. To the extent that these shares vest upon achievement of such revenue and operting income targets for the fiscal year ending March 31, 2010, the remaining shares would vest at rate of 6.25% each three month period thereafter (commencing on April 1, 2009). The grantee retains voting rights with respect to such shares unless and to the extent that such shares do not vest and are forfeited.
Includes 35,000 shares of performance based restricted stock granted under the Company's 2007 Stock Option and Incentive Plan in October 2008, which vest only upon the Company's achievement of certain revenue and operating income targets for each fiscal year over four fiscal years, commencing with the fiscal year ending March 31, 2010. The performance based restricted shares vest at a rate of 25% per performance period upon achievement of applicable revenue and operating income targets for such fiscal year, with each fiscal year being a performance period. 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 reporting person was granted an option to purchase these shares on 05/21/2003. All shares have vested.