SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
 
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Narayanan Sundararajan

(Last) (First) (Middle)
C/O VIRTUSA CORPORATION
132 TURNPIKE ROAD

(Street)
SOUTHBOROUGH MA 01772

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
VIRTUSA CORP [ VRTU ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, CPO and Global Head of HR
3. Date of Earliest Transaction (Month/Day/Year)
03/02/2020
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
common stock 03/02/2020 F(1) 8,295(1) D $44.62 86,521 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. On 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 3/31/2018 ("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, 185.54% of the target shares were earned, of which 33% vested on 9/1/2018 and 67% vest on 3/1/2020, based on continued service of the reporting person. On 3/2/2020, the Company withheld the number of shares listed above equal to the reporting person's tax liability thereon.
Remarks:
/s/ Paul D. Tutun, Attorney in Fact 03/04/2020
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
LIMITED POWER OF ATTORNEY FOR
SECTION 16 REPORTING OBLIGATIONS


This Power of Attorney shall remain in full force and effect until revoked by
the undersigned in a signed writing delivered to such attorney-in-fact.

Power of Attorney
I, Sundararajan Narayanan, the undersigned, hereby constitute and appoint Kris
A. Canekeratne, Ranjan Kalia and Paul D. Tutun, and each of them individually,
as my true and lawful attorney-in-fact to:

1. Complete and execute on my behalf, as an executive officer and/or director of
Virtusa Corporation, a Delaware corporation (the "Company") any Form ID or Forms
3, 4, or 5 required to be filed by me under Section 16(a) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act") and the rules and
regulations thereunder;

2. Do and perform any and all acts for and on my behalf which may be necessary
or desirable to complete and execute any such Form ID or Forms 3, 4 or 5 and
timely file such forms with the U.S.Securities and Exchange Commission and any
stock exchange or similar authority; and

3. Take any other action of any type whatsoever in connection with the
foregoing, which in the opinion of such attorney-in-fact may be of benefit to,
in the best interest of, or legally required of me, it being understood that the
documents executed by such attorney-in-fact on my behalf pursuant to this Power
of Attorney shall be in such form and shall contain such information as such
attorney-in-fact may approve in such attorney-in-fact's discretion.

The undersigned hereby grants to each such attorney-in-fact, acting singly, full
power and authority to do an perform any and every act which is necessary,
proper or desirable to be done in the exercise of any of the rights and powers
herein granted, as fully to all intents and purposes as the undersigned might or
could do if personally present, with full power of substitution or revocation,
hereby ratifying and confirming all that any such attorney-in-fact, or any such
attorney-in fact's substitute or substitutes,shall lawfully do or cause to be
done by virtue of this power of attorney and the rights and powers herein
granted. The undersigned acknowledges that each of the foregoing
attorneys-in-fact, in serving in such capacity at the request of the
undersigned, are not assuming, nor is the Company assuming, any of the
undersigned responsibilities to  comply with Section 13 or Section 16 of the
Exchange Act. The undersigned hereby agrees to indemnify the attorneys-in-fact
and the Company from and against any demand, damage, loss, cost or expense
arising from any false or misleading information provided by the undersigned to
the attorneys-in-fact.

This Power of Attorney shall remain in full force and effect until the
undersigned is no longer to file any instruments, certificates and documents
pursuant to Section 13 and Section 16 of the Exchange Act or the rules or
regulations there under with respect to the undersigned's holdings of and
transactions in securities issued by the Company, unless earlier revoked by the
undersigned in a signed writing delivered to the foregoing attorneys-in-fact.
This Power of Attorney supersedes any prior power of attorney in connection with
the undersigned's capacity as an officer and/or director of the Company.This
Power of Attorney shall expire as to any individual attorney-in-fact if such
attorney-in-fact ceases to be an executive officer, or legal counsel to, the
Company.

IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney as of
August 18, 2016

/s/ Sundararajan Narayanan
Name: Sundararajan Narayanan

STATE OF Massachusetts
COUNTY OF Worcester

On this 18th day of August 2016, Sundararajan Narayanan personally appeared
before me, and acknowledged that he executed the foregoing instrument for the
purposes therein contained.

IN WITNESS WHEREOF, I have hereunto set my hand and official seal.

Amanda M. Wilson
Notary Public
/s/ Amanda M. Wilson