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Filing Details

Accession Number:: 0001209191-17-051533
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-09-06 15:08:55
Reporting Period:: 2017-09-01

Accepted Time:: 2017-09-06 14:08:55
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
1449544	Raj Rajgopal	C/O Virtusa Corporation 2000 West Park Drive Westborough MA 01581	President, Dbs	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	Disposition	2017-09-01	1,874	$36.14	107,216	No	4	F	Direct
Common Stock	Acquisiton	2017-09-01	1,360	$10.02	108,576	No	4	M	Direct
Common Stock	Disposition	2017-09-01	1,360	$36.03	107,216	No	4	S	Direct
Common Stock	Acquisiton	2017-09-01	2,665	$9.82	109,881	No	4	M	Direct
Common Stock	Disposition	2017-09-01	2,665	$36.05	107,216	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	F	Direct
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	nonqualified stock option	Disposition	2017-09-01	1,360	$10.02	1,360	$10.02
Common Stock	nonqualified stock option	Disposition	2017-09-01	2,665	$9.82	2,665	$9.82

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
9,520		2018-05-23	No	4	M	Direct
18,655		2019-08-04	No	4	M	Direct

Footnotes

On 11/14/16, the reporting person was granted performance-based restricted stock units based on revised financial guidance for fiscal year ending 3/31/2017 ("FY17") under the Company's 2015 Stock Option and Incentive Plan, which awards vest only upon the Company's achievement of two critical performance metrics based on a nine month performance period beginning 7/1/2016 and ending 3/31/2017: revenue (70%) and Non-GAAP operating income (30%). Based on the Company's achievement of revenue of $653.2 million and Non-GAAP operating income of $48 million (for the nine-month period ending 3/31/17), 46.2% of the target shares were earned, of which 50% vest on 9/1/2017 and 50% vest on 3/1/2019, based on continued service of the reporting person. On 9/1/17 the company withheld the number of shares listed above equal to the reporting person's tax liability thereon.
These shares were sold pursuant to a 10b5-1 Plan Agreement dated as of May 24, 2017 entered into by and between Mr. Rajgopal and an investment bank
This transaction was executed in multiple trades at prices ranging from $35.84 to $36.17 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.
This transaction was executed in multiple trades at prices ranging from $35.88 to $36.17 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 an option to purchase these shares on 05/23/2008. All shares are now vested.
The reporting person was granted an option to purchase these shares on 08/04/2009. All shares are now vested.