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Filing Details

Accession Number:: 0001209191-14-055702
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2014-09-03 18:02:23
Reporting Period:: 2014-09-02

Filing Date:: 2014-09-03
Accepted Time:: 2014-09-03 18:02:23
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
1406397	A Kris Canekeratne	C/O Virtusa Corporation 2000 West Park Drive Westborough MA 01581	Chairman & Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Disposition	2014-09-02	4,000	$34.42	1,028,853	No	4	S	Direct
Common Stock	Disposition	2014-09-02	8,218	$34.54	1,020,635	No	4	F	Direct
Common Stock	Disposition	2014-09-03	4,000	$34.29	1,016,635	No	4	S	Direct

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

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	301,389	Indirect	Held by spouse
Common Stock	60,982	Indirect	Held by Kris Canekeratne Irreovocable Trust
Common Stock	60,982	Indirect	Held by Irrevocable Trust of spouse

Footnotes

These shares were sold pursuant to a 10b5-1 Sales Plan Agreement dated as of June 11, 2014 entered into by and between Kris Canekeratne and an investment bank.
This transaction was executed in multiple trades at prices ranging from $34.30 to $34.59 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 performance based, deferred restricted stock awards under the Company's 2007 Stock Option and Incentive Plan on 8/6/2013, which awards vest only upon the Company's achievement of certain revenue targets for the fiscal year ended March 31, 2014 ("FY14"). To the extent that the shares conditionally vest per the performance targets for FY14, then 33% of such shares vest on 9/1/14 and the remaining 67% vest on 3/1/16. Based on the Company's revenue of $396.9 million for FY14, on 5/21/14, our Board approved the reporting person earning 115% of the shares granted or 52,815 shares, of which 33% vest on 9/1/14 and 67% vest on 3/1/16, based on continued service of the reporting person. On 9/2/14, 8218 shares were withheld to pay the reporting person's tax liability thereon.
This transaction was executed in multiple trades at prices ranging from $34.08 to $34.52 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.