Form 4: Kaufman Descendants Trust Sells Agilysys Shares Under 10b5-1 Plan

The Kaufman 2012 Descendants Trust, an affiliate of Agilysys director Michael Kaufman, sold 22,500 shares of Agilysys (AGYS) common stock between January 13 and January 15, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• The Kaufman 2012 Descendants Trust, with David N. Smith as Trustee, reported the sale of Agilysys Inc. (AGYS) common stock.
• The sales occurred over three days: January 13, 2025, January 14, 2025, and January 15, 2025.
• Each day, 7,500 shares were sold.
• The prices per share were $126.26 on January 13, $128.81 on January 14, and $132.98 on January 15.
• The transactions were executed under a Rule 10b5-1 trading plan established on September 10, 2024.
• Following these transactions, the Trust directly owns 270,576 shares of Agilysys common stock.
• Michael Kaufman, a director of Agilysys, is related to the beneficiaries of the Trust but disclaims beneficial ownership of the Trust's shares.
• Michael Kaufman directly owns 9,580 shares and may indirectly own 1,192,730 shares held by MAK Capital Fund LP, but he disclaims beneficial ownership except for his pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports routine stock sales under a pre-arranged plan. There is no indication of positive or negative implications for the company's performance.

Industry Context

Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of trading on material non-public information. The use of a 10b5-1 plan provides a legal framework for insiders to sell shares without raising concerns about insider trading.

Stakeholder Impact

• The stock sale by the Trust could have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely minimal given the relatively small volume of shares sold compared to the total outstanding shares.

Key Dates