secwatch.observer — SEC 8-K summary
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Issuer:     AGILYSYS INC (AGYS)
CIK:        0000078749
Form:       8-K
Filed at:   2026-06-22T12:30:16+00:00
Accession:  0001193125-26-276749
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Agilysys enters new 3-year CEO employment agreement with Ramesh Srinivasan; $6.8M RSU grant
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- Base salary remains $600,000/year; target bonus 100% of base salary, max 150%, paid in stock.
- Equity grant of 78,269 RSUs ($6.8M): 50% time-based, 50% performance-based with stock price targets of $105, $120, $135.
- Initial term is three years with automatic one-year renewals unless 90-day non-renewal notice given.
- Severance: two years' base salary plus two times target bonus if terminated without cause or for good reason.
- Non-competition and non-solicitation obligations apply during employment and for 24 months after termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/78749/000119312526276749/0001193125-26-276749-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/78749/000119312526276749/agys-20260622.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-276749

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