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AGILYSYS INC (AGYS) filed an 8-K current report with the SEC on June 22, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). CEO Ramesh Srinivasan retained for an initial three-year term, with automatic one-year renewals absent 90-day non-renewal notice.
AGILYSYS INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- CEO Ramesh Srinivasan retained for an initial three-year term, with automatic one-year renewals absent 90-day non-renewal notice
- Base salary remains $600,000, with target annual bonus equal to salary and maximum bonus of 150%
- $6.8 million equity grant comprising 78,269 RSUs, split evenly between time-based and performance-based awards
- Performance RSUs tied to 20-day VWAP thresholds of $105, $120, and $135 per share, plus continued employment
- Severance includes two years’ salary and target bonus, with enhanced protection around a change in control
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