Form 4: MAK Capital One LLC Sells Agilysys Inc (AGYS) Shares Under 10b5-1 Plan
SEC Form 4
MAK Capital One LLC, along with related entities, sold shares of Agilysys Inc. (AGYS) between June 12 and June 14, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- MAK Capital One LLC, MAK Capital Fund LP, and Michael A. Kaufman reported the sale of Agilysys Inc. (AGYS) common stock.
- The sales occurred between June 12 and June 14, 2024.
- The transactions were executed under a Rule 10b5-1 Transaction Plan dated January 25, 2024.
- On June 12, 2024, 33,933 shares were sold at a price of $92.7502 per share.
- On June 13, 2024, 21,137 shares were sold at a price of $90.7095 per share.
- On June 14, 2024, 38,539 shares were sold at a price of $90.8484 per share.
- Following these transactions, MAK Capital Fund LP indirectly beneficially owns 1,449,136 shares of Agilysys Inc.
- MAK Capital acts as the investment manager of MAK Capital Fund LP, and Michael A. Kaufman is the managing member of MAK Capital.
- MAK Capital and Mr. Kaufman disclaim beneficial ownership of the shares except to the extent of their pecuniary interest.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document reports routine transactions under a pre-arranged trading plan. There is no indication of positive or negative implications for the company's performance.
Industry Context
Sales by major shareholders are common and can be part of portfolio management strategies or pre-arranged trading plans. The use of a 10b5-1 plan suggests the sales were planned in advance to avoid insider trading concerns.
Stakeholder Impact
- The sale of shares by a significant shareholder could create short-term selling pressure on the stock.
- However, the existence of a 10b5-1 plan suggests the sales were pre-planned and may not reflect a change in the shareholder's long-term view of the company.
Key Dates
| Date | Description |
|---|---|
| January 25, 2024 | Date of the Rule 10b5-1 Transaction Plan between MAK Capital One LLC and BTIG, LLC |
| June 12, 2024 | Date of first reported transaction: sale of 33,933 shares |
| June 13, 2024 | Date of second reported transaction: sale of 21,137 shares |
| June 14, 2024 | Date of third reported transaction: sale of 38,539 shares |
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