This is the 497th most frequent Lithuanian word.
vyko
"Vyko" means "took place" or "was happening" in English.
In this sentence, 'vyko' is used to indicate that an event (the meeting) occurred in the past.
Vakar vyko svarbus susitikimas.
Yesterday, an important meeting took place.
In this instance, 'vyko' is employed to express the occurrence of an event (the film festival) in a specific form (virtually).
Kino festivalis šiais metais vyko virtualiai.
The film festival this year was held virtually.
Here, 'vyko' describes the manner in which a process (the selection) was conducted.