On October 7, 2020, Virtusa Corporation announced that on October 6, 2020, it has entered into a Settlement Agreement with New Mountain Vantage LO, L.P., New Mountain Vantage Focus, L.P., New Mountain Vantage (California) II, L.P., New Mountain Vantage, L.P., New Mountain Vantage Co-Invest II, L.P., New Mountain Vantage GP, L.L.C. and New Mountain Vantage Advisers, L.L.C. The Company stated that effective upon execution and delivery of the Settlement Agreement, the Board of Directors of the Company will, (i) expand the size of the Board from 9 members to 10 members and (ii) appoint Patricia B. Morrison to the Board for a term expiring at the Company’s 2023 annual meeting of stockholders.