secwatch.observer — SEC 8-K summary
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Issuer:     AGILYSYS INC (AGYS)
CIK:        0000078749
Form:       8-K
Filed at:   2023-03-14T23:59:59+00:00
Accession:  0000950170-23-007885
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Agilysys enters new employment agreement with CEO Ramesh Srinivasan, base salary $600k and performance RSUs
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- CEO Ramesh Srinivasan gets three-year initial term with $600,000 annual base salary, eligible for bonus up to 150% of base.
- Grant of 67,856 restricted stock units valued at $5.4 million; half vest time-based over three years.
- Performance-based RSUs vest if AGYS stock hits $100 (First Tranche: 21,035 RSUs) or $115 (Second Tranche: 12,893 RSUs) for 20 consecutive trading days.
- Severance includes two years' base salary plus two times target bonus, COBRA coverage, and equity acceleration on termination without cause or for good reason.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/78749/000095017023007885/0000950170-23-007885-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/78749/000095017023007885/agys-20230310.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-007885

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer