You have it (the division) right there, in the virtual to physical address translation. The virtual address space is split into blocks of one or several kilobytes (typically, all of the same size), each of which can be associated with a chunk (page) of physical memory of the same size.
Those parts of the executable (or process) that haven't been used yet or haven't been used recently need not to be copied into the physical memory from the disk and so the respective portions of the virtual address space may not be associated with physical memory either. When the system becomes low on free physical memory, it may repurpose some pages, saving their contents to the disk if necessary (or not saving, if they contain read-only data/code).