4//SEC Filing
Narayanan Sundararajan 4
Accession 0001209191-21-009842
CIK 0001207074other
Filed
Feb 10, 7:00 PM ET
Accepted
Feb 11, 6:30 PM ET
Size
13.2 KB
Accession
0001209191-21-009842
Insider Transaction Report
Form 4
VIRTUSA CORPVRTU
Narayanan Sundararajan
EVP, CPO and Global Head of HR
Transactions
- Disposition to Issuer
Common Stock
2021-02-11−102,985→ 0 total - Disposition to Issuer
Performance-based restricted stock unit award
2021-02-11−21,000→ 0 total→ Common Stock (21,000 underlying) - Disposition to Issuer
Performance-based restricted stock unit award
2021-02-11−20,343→ 0 total→ Common Stock (20,343 underlying) - Disposition to Issuer
Performance-based restricted stock unit award
2021-02-11−17,500→ 0 total→ Common Stock (17,500 underlying)
Footnotes (3)
- [F1]This Form 4 reports securities disposed of pursuant to the terms of the Agreement and Plan of Merger, dated as of September 9, 2020 (the "Merger Agreement"), by and among Austin HoldCo Inc., Austin BidCo Inc. ("Sub"), and the Issuer, pursuant to which Sub merged with and into the Issuer (the "Merger") effective as of February 11, 2021 (the "Effective Time"). At the Effective Time, each issued and outstanding share of common stock of the Issuer and 70% of the unvested restricted stock units and performance stock units (the "Units") held by the Reporting Person were cancelled and converted into the right to receive $51.35 per share in cash without interest and net of any withholding of taxes thereon.
- [F2]Pursuant to the terms of the Merger Agreement, at the Effective Time, 30% of the unvested Units were cancelled and replaced with the right to receive $51.35 in cash per Unit, without interest and net of any withholding taxes thereon, which payment shall be made following the earliest of (a) the applicable vesting date, (b) the date that is 12 months following the Effective Time or (c) the date that is 60 days after the date the Reporting Person's employment is terminated by the Issuer without cause (as defined in the Merger Agreement) or by the Reporting Person for good reason (as defined in the Merger Agreement).
- [F3]Includes 42,525 unvested Units.
Documents
Issuer
VIRTUSA CORP
CIK 0001207074
Entity typeother
Related Parties
1- filerCIK 0001682655
Filing Metadata
- Form type
- 4
- Filed
- Feb 10, 7:00 PM ET
- Accepted
- Feb 11, 6:30 PM ET
- Size
- 13.2 KB