Form 4: MAK Capital One LLC Sells Agilysys Inc. Shares Under 10b5-1 Plan

MAK Capital One LLC, along with related entities, sold shares of Agilysys Inc. (AGYS) between June 7 and June 11, 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 7, 2024, and June 11, 2024.
• The transactions were executed under a Rule 10b5-1 transaction plan established on January 25, 2024.
• A total of 66,795 shares were sold on June 7, 2024, at a price of $93.795 per share.
• On June 10, 2024, 25,747 shares were sold at $92.8845 per share.
• Finally, on June 11, 2024, 14,265 shares were sold at $91.5926 per share.
• Following these transactions, MAK Capital Fund LP indirectly beneficially owns 1,542,745 shares of Agilysys Inc.
• MAK Capital One LLC is the investment manager of MAK Capital Fund LP, and Michael A. Kaufman is the managing member of MAK Capital One LLC.
• Both MAK Capital One LLC and Michael A. 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 stock sales under a pre-arranged trading plan. There is no indication of positive or negative implications for the company's performance.

Industry Context

Sales by significant 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 accusations of insider trading.

Stakeholder Impact

• The stock sales could create temporary downward pressure on the stock price, potentially affecting shareholders.
• The impact on other stakeholders (employees, customers, suppliers, creditors) is likely minimal.

Key Dates