Previous studies show divergent views of shared leadership in the team performance of virtual teams. In this study, we seek to understand the mediating and moderating roles of trust, commitment, and virtuality among virtual team members on performance within the context of shared leadership. We conducted a questionnaire-based survey to gather perspectives on shared leadership and performance and analysed responses through structural equation modelling. We find that there is a significant positive effect between the two and that virtuality plays a significant moderating role for virtual team performance. In addition, we find that when virtuality increases, the mediating effect of trust and commitment is not significant, which challenges previous findings.