UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 20, 2017

VIRTUSA CORPORATION

(Exact Name of Registrant as Specified in Charter)

Registrant’s telephone number, including area code: (508) 389-7300

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 1.01 - Entry into a Material Definitive Agreement.

On October 23, 2017, Virtusa Corporation (the “Company”) entered into a lease with 132 Turnpike Road LLC (the “Landlord”) for approximately 12,120 square feet of office space located at 132 Turnpike Road, Southborough, Massachusetts (the “Lease”). The office space will be used for the Company’s corporate headquarters. The Lease has a term of 125 months from the commencement date which is March 1, 2018. The initial annual base rent is approximately $278,760 and increases each year of the term to approximately $360,570 in the tenth year of the Lease term. In addition to the base rent, the Company will also pay its proportionate share of building operating expenses, insurance expenses and real estate taxes.

The Company also has an option to extend the Lease for a period of sixty months.  Additionally, the Company has the preferential right to lease certain space in the building where the premises is located as it becomes available.

Item 2.03.  Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On October 20, 2017, the Company purchased multiple foreign currency forward contracts designed to hedge fluctuation in the Indian rupee against the U.S. dollar and U.K. pound sterling. The U.S dollar contracts have an aggregate notional amount of approximately 1,751,130,000 Indian rupees (approximately $26,011,000) and have an average settlement rate of 67.20 Indian rupees. The U.K. pound sterling contracts have an aggregate notional amount of approximately 942,915,000 Indian rupees (approximately £10,498,300) and have an average settlement rate of 89.62 Indian rupees. These contracts will expire at various dates during the 17 month period ending on March 29, 2019. The Company will be obligated to settle these contracts based upon the Reserve Bank of India published Indian rupee exchange rates. Based on the U.S. dollar to U.K. pound sterling spot rate on October 20, 2017 of $1.32, the blended weighted average Indian rupee rate associated with both the U.S. dollar and U.K. pound sterling contracts would be approximately 67.61 Indian rupees per U.S. dollar.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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