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 4th and June 6th, 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 4th and June 6th, 2024.
• The transactions were executed under a Rule 10b5-1 trading plan established on January 25, 2024.
• A total of 28,941 shares were sold on June 4th at a price of $92.758 per share.
• On June 5th, 28,429 shares were sold at $95.4379 per share.
• On June 6th, 28,018 shares were sold at $93.0715 per share.
• Following these transactions, MAK Capital Fund LP indirectly beneficially owns 1,649,552 shares of Agilysys Inc. common stock.
• 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 document reports routine stock sales under a pre-arranged plan, indicating a neutral sentiment. There's no indication of distress or unusual activity.

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 stock sales could have a minor impact on shareholders due to the increased supply of shares in the market.
• The impact is likely to be minimal given the pre-planned nature of the sales and the relatively small volume compared to the total outstanding shares.

Key Dates