Form 4: MAK Capital One LLC Sells Agilysys Inc. Shares Under 10b5-1 Plan
SEC Form 4
MAK Capital One LLC, along with related entities, sold shares of Agilysys Inc. (AGYS) between June 21 and June 25, 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 21, 2024, and June 25, 2024.
- The transactions were executed under a Rule 10b5-1 trading plan established on January 25, 2024.
- On June 21, 2024, 61,035 shares were sold at a price of $96.4343 per share.
- On June 24, 2024, 45,000 shares were sold at a price of $98.477 per share.
- On June 25, 2024, 60,677 shares were sold at a price of $99.3502 per share.
- Following these transactions, MAK Capital Fund LP indirectly beneficially owns 1,192,730 shares of Agilysys Inc. common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as this is a standard Form 4 filing reporting share sales under a pre-arranged trading plan. There's no indication of positive or negative sentiment towards the company.
Industry Context
This filing indicates activity by a major shareholder, MAK Capital, in Agilysys Inc. Understanding the reasons behind these sales would require further investigation, but it's not uncommon for investment firms to periodically adjust their holdings.
Stakeholder Impact
- The sale of shares by a significant shareholder could potentially create short-term selling pressure on the stock.
- However, given the pre-planned nature of the sales, the impact may be limited.
Key Dates
| Date | Description |
|---|---|
| January 25, 2024 | Date of Rule 10b5-1 Transaction Plan between MAK Capital One LLC and BTIG, LLC |
| June 21, 2024 | Sale of 61,035 shares of Common Stock at $96.4343 |
| June 24, 2024 | Sale of 45,000 shares of Common Stock at $98.477 |
| June 25, 2024 | Sale of 60,677 shares of Common Stock at $99.3502 |
| June 25, 2024 | Date of signature for the Form 4 filing |
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