Form 4: Agilysys Inc. Director Michael Kaufman Reports Changes in Beneficial Ownership

Director Michael Kaufman reports acquisition and ownership details of Agilysys Inc. shares, including restricted stock grants and indirect beneficial ownership through MAK Capital Fund LP.

Summary

• Michael Kaufman, a director of Agilysys Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On May 21, 2024, Kaufman acquired 968 shares of common stock at $0.00, representing restricted shares granted under the 2020 Equity Incentive Plan.
• These shares vest on March 31, 2025.
• Following the transaction, Kaufman directly owns 10,548 shares of common stock.
• Kaufman also indirectly beneficially owns 2,398,534 shares, including 2,060,458 shares held by MAK Capital Fund LP, as reported on a Schedule 13D/A dated February 16, 2024.
• Kaufman disclaims beneficial ownership of these indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports transactions and ownership details. The acquisition of restricted shares could be seen as mildly positive, indicating alignment of interests.

Positives

• The acquisition of restricted shares indicates continued alignment of the director's interests with the company's performance.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be an indicator of their confidence in the company's prospects.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership stake of a key company director.

Key Dates