AGYS

SEC source: 0000950170-25-036595 · ownership.xml · nonDerivative · entry 1

MUTCH JOHN · CIK 0001228146 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 32,654

SEC source: 0001019056-25-000044 · ownership.xml · nonDerivative · entry 3

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 225,384

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust. The Rule 10b5-1 Trading Plan was completed on January 24, 2025 and there will be no further sales of shares under the Rule 10b5-1 Trading Plan.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000044 · ownership.xml · nonDerivative · entry 2

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 233,076

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust. The Rule 10b5-1 Trading Plan was completed on January 24, 2025 and there will be no further sales of shares under the Rule 10b5-1 Trading Plan.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000044 · ownership.xml · nonDerivative · entry 1

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 240,576

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust. The Rule 10b5-1 Trading Plan was completed on January 24, 2025 and there will be no further sales of shares under the Rule 10b5-1 Trading Plan.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000022 · ownership.xml · nonDerivative · entry 3

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 248,076

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000022 · ownership.xml · nonDerivative · entry 2

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 255,576

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000022 · ownership.xml · nonDerivative · entry 1

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 263,076

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000016 · ownership.xml · nonDerivative · entry 3

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 270,576

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000016 · ownership.xml · nonDerivative · entry 2

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 278,076

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000016 · ownership.xml · nonDerivative · entry 1

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 285,576

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000013 · ownership.xml · nonDerivative · entry 3

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 293,076

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000013 · ownership.xml · nonDerivative · entry 2

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 300,576

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000013 · ownership.xml · nonDerivative · entry 1

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 308,076

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust") and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000009 · ownership.xml · nonDerivative · entry 3

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 315,576

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust")and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000009 · ownership.xml · nonDerivative · entry 2

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 323,076

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust")and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0001019056-25-000009 · ownership.xml · nonDerivative · entry 1

Kaufman 2012 Descendants Trust, David N. Smith, Trustee · CIK 0002041357 · Affiliate of Director

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 330,576

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated September 10, 2024 between the Kaufman Descendants Trust (the "Trust")and Fidelity Brokerage Services LLC. The beneficiaries of the Trust are dependents of Michael Kaufman, who is a director of the Issuer. Michael Kaufman does not have trading authority over the Trust and disclaims beneficial ownership of the shares held by the Trust.

F2 · ownership.direct: In addition, Michael Kaufman (a) directly beneficially owns 9,580 shares of common stock of the issuer and (b) may be deemed to indirectly beneficially own 1,192,730 shares of common stock of the issuer held by MAK Capital Fund LP ("MAK Fund") by virtue of being the managing director of MAK Capital One LLC which is the investment manager of MAK Fund. Mr. Kaufman has disclaimed such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0000950170-25-051289 · ownership.xml · derivative · entry 2

Pope Lisa · CIK 0002049569 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 241

Underlying: Common Stock · 241 shares

Expires not disclosed

F1 · derivative.exercise_price: Restricted stock units granted under the Agilysys, Inc. 2024 Equity Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock of Agilysys, Inc.

F2 · derivative.exercise_date: The restricted stock units vest on March 31, 2025.

F2 · derivative.expiration_date: The restricted stock units vest on March 31, 2025.

SEC source: 0000950170-24-137456 · ownership.xml · derivative · entry 2

MAK CAPITAL ONE LLC · CIK 0001385702 · Director

MAK Capital Fund LP · CIK 0001426156 · Director

Kaufman Michael A · CIK 0001426157 · Director

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 327,600

Underlying: Common Stock · 327,600 shares

Expires not disclosed

F1 · price: On December 3, 2024, MAK Capital Fund LP ("MAK Fund"), an affiliate of MAK Capital One LLC ("MAK Capital"), entered into a "zero-cost collar" arrangement (the "Contract") with an unaffiliated broker-dealer on the common stock, without par value, (the "Shares") of Agilysys, Inc. (the "Issuer"). Pursuant to the Contract, which included an initial hedge period that ended on December 15, 2024, MAK Fund wrote European call options and purchased European put options on 327,600 Shares. Only one of such options can be in-the-money on the applicable expiration date(s). On such dates, the Contract is expected to be physically settled by delivery of the Shares unless MAK Fund elects to pay cash to settle its obligations, if any, under the Contract.

F2 · price: The Contract will expire in 16 equal increments in respect of 20,475 Shares each over a series of expiration dates expected to commence on March 3, 2026.

F3 · price: On the final expiration date: (i) the call option will automatically be exercised (and the put option will expire unexercised) if the volume weighted average price of the Shares on the relevant expiration date (the "Reference Price") is greater than or equal to the call option strike price; (ii) the put option will automatically be exercised (and the call option will expire unexercised) if the Reference Price is less than or equal to the put option strike price; and (iii) the call option and the put option will each expire unexercised if the Reference Price is greater than the put option strike price but less than the call option strike price; provided that the applicable option buyer may elect to exercise the applicable options on the relevant expiration date regardless of whether or not the applicable options are in-the-money.

F1 · derivative.exercise_date: On December 3, 2024, MAK Capital Fund LP ("MAK Fund"), an affiliate of MAK Capital One LLC ("MAK Capital"), entered into a "zero-cost collar" arrangement (the "Contract") with an unaffiliated broker-dealer on the common stock, without par value, (the "Shares") of Agilysys, Inc. (the "Issuer"). Pursuant to the Contract, which included an initial hedge period that ended on December 15, 2024, MAK Fund wrote European call options and purchased European put options on 327,600 Shares. Only one of such options can be in-the-money on the applicable expiration date(s). On such dates, the Contract is expected to be physically settled by delivery of the Shares unless MAK Fund elects to pay cash to settle its obligations, if any, under the Contract.

F2 · derivative.exercise_date: The Contract will expire in 16 equal increments in respect of 20,475 Shares each over a series of expiration dates expected to commence on March 3, 2026.

F3 · derivative.exercise_date: On the final expiration date: (i) the call option will automatically be exercised (and the put option will expire unexercised) if the volume weighted average price of the Shares on the relevant expiration date (the "Reference Price") is greater than or equal to the call option strike price; (ii) the put option will automatically be exercised (and the call option will expire unexercised) if the Reference Price is less than or equal to the put option strike price; and (iii) the call option and the put option will each expire unexercised if the Reference Price is greater than the put option strike price but less than the call option strike price; provided that the applicable option buyer may elect to exercise the applicable options on the relevant expiration date regardless of whether or not the applicable options are in-the-money.

F1 · derivative.expiration_date: On December 3, 2024, MAK Capital Fund LP ("MAK Fund"), an affiliate of MAK Capital One LLC ("MAK Capital"), entered into a "zero-cost collar" arrangement (the "Contract") with an unaffiliated broker-dealer on the common stock, without par value, (the "Shares") of Agilysys, Inc. (the "Issuer"). Pursuant to the Contract, which included an initial hedge period that ended on December 15, 2024, MAK Fund wrote European call options and purchased European put options on 327,600 Shares. Only one of such options can be in-the-money on the applicable expiration date(s). On such dates, the Contract is expected to be physically settled by delivery of the Shares unless MAK Fund elects to pay cash to settle its obligations, if any, under the Contract.

F2 · derivative.expiration_date: The Contract will expire in 16 equal increments in respect of 20,475 Shares each over a series of expiration dates expected to commence on March 3, 2026.

F3 · derivative.expiration_date: On the final expiration date: (i) the call option will automatically be exercised (and the put option will expire unexercised) if the volume weighted average price of the Shares on the relevant expiration date (the "Reference Price") is greater than or equal to the call option strike price; (ii) the put option will automatically be exercised (and the call option will expire unexercised) if the Reference Price is less than or equal to the put option strike price; and (iii) the call option and the put option will each expire unexercised if the Reference Price is greater than the put option strike price but less than the call option strike price; provided that the applicable option buyer may elect to exercise the applicable options on the relevant expiration date regardless of whether or not the applicable options are in-the-money.

F4 · ownership.direct: MAK Capital acts as the investment manager of MAK Fund and Michael A. Kaufman ("Mr. Kaufman") is the managing member of MAK Capital. Each of MAK Capital and Mr. Kaufman disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0000950170-24-137456 · ownership.xml · derivative · entry 1

MAK CAPITAL ONE LLC · CIK 0001385702 · Director

MAK Capital Fund LP · CIK 0001426156 · Director

Kaufman Michael A · CIK 0001426157 · Director

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 327,600

Underlying: Common Stock · 327,600 shares

Expires not disclosed

F1 · price: On December 3, 2024, MAK Capital Fund LP ("MAK Fund"), an affiliate of MAK Capital One LLC ("MAK Capital"), entered into a "zero-cost collar" arrangement (the "Contract") with an unaffiliated broker-dealer on the common stock, without par value, (the "Shares") of Agilysys, Inc. (the "Issuer"). Pursuant to the Contract, which included an initial hedge period that ended on December 15, 2024, MAK Fund wrote European call options and purchased European put options on 327,600 Shares. Only one of such options can be in-the-money on the applicable expiration date(s). On such dates, the Contract is expected to be physically settled by delivery of the Shares unless MAK Fund elects to pay cash to settle its obligations, if any, under the Contract.

F2 · price: The Contract will expire in 16 equal increments in respect of 20,475 Shares each over a series of expiration dates expected to commence on March 3, 2026.

F3 · price: On the final expiration date: (i) the call option will automatically be exercised (and the put option will expire unexercised) if the volume weighted average price of the Shares on the relevant expiration date (the "Reference Price") is greater than or equal to the call option strike price; (ii) the put option will automatically be exercised (and the call option will expire unexercised) if the Reference Price is less than or equal to the put option strike price; and (iii) the call option and the put option will each expire unexercised if the Reference Price is greater than the put option strike price but less than the call option strike price; provided that the applicable option buyer may elect to exercise the applicable options on the relevant expiration date regardless of whether or not the applicable options are in-the-money.

F1 · derivative.exercise_date: On December 3, 2024, MAK Capital Fund LP ("MAK Fund"), an affiliate of MAK Capital One LLC ("MAK Capital"), entered into a "zero-cost collar" arrangement (the "Contract") with an unaffiliated broker-dealer on the common stock, without par value, (the "Shares") of Agilysys, Inc. (the "Issuer"). Pursuant to the Contract, which included an initial hedge period that ended on December 15, 2024, MAK Fund wrote European call options and purchased European put options on 327,600 Shares. Only one of such options can be in-the-money on the applicable expiration date(s). On such dates, the Contract is expected to be physically settled by delivery of the Shares unless MAK Fund elects to pay cash to settle its obligations, if any, under the Contract.

F2 · derivative.exercise_date: The Contract will expire in 16 equal increments in respect of 20,475 Shares each over a series of expiration dates expected to commence on March 3, 2026.

F3 · derivative.exercise_date: On the final expiration date: (i) the call option will automatically be exercised (and the put option will expire unexercised) if the volume weighted average price of the Shares on the relevant expiration date (the "Reference Price") is greater than or equal to the call option strike price; (ii) the put option will automatically be exercised (and the call option will expire unexercised) if the Reference Price is less than or equal to the put option strike price; and (iii) the call option and the put option will each expire unexercised if the Reference Price is greater than the put option strike price but less than the call option strike price; provided that the applicable option buyer may elect to exercise the applicable options on the relevant expiration date regardless of whether or not the applicable options are in-the-money.

F1 · derivative.expiration_date: On December 3, 2024, MAK Capital Fund LP ("MAK Fund"), an affiliate of MAK Capital One LLC ("MAK Capital"), entered into a "zero-cost collar" arrangement (the "Contract") with an unaffiliated broker-dealer on the common stock, without par value, (the "Shares") of Agilysys, Inc. (the "Issuer"). Pursuant to the Contract, which included an initial hedge period that ended on December 15, 2024, MAK Fund wrote European call options and purchased European put options on 327,600 Shares. Only one of such options can be in-the-money on the applicable expiration date(s). On such dates, the Contract is expected to be physically settled by delivery of the Shares unless MAK Fund elects to pay cash to settle its obligations, if any, under the Contract.

F2 · derivative.expiration_date: The Contract will expire in 16 equal increments in respect of 20,475 Shares each over a series of expiration dates expected to commence on March 3, 2026.

F3 · derivative.expiration_date: On the final expiration date: (i) the call option will automatically be exercised (and the put option will expire unexercised) if the volume weighted average price of the Shares on the relevant expiration date (the "Reference Price") is greater than or equal to the call option strike price; (ii) the put option will automatically be exercised (and the call option will expire unexercised) if the Reference Price is less than or equal to the put option strike price; and (iii) the call option and the put option will each expire unexercised if the Reference Price is greater than the put option strike price but less than the call option strike price; provided that the applicable option buyer may elect to exercise the applicable options on the relevant expiration date regardless of whether or not the applicable options are in-the-money.

F4 · ownership.direct: MAK Capital acts as the investment manager of MAK Fund and Michael A. Kaufman ("Mr. Kaufman") is the managing member of MAK Capital. Each of MAK Capital and Mr. Kaufman disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

SEC source: 0000950170-24-133096 · ownership.xml · nonDerivative · entry 1

Robertson Chris J · CIK 0001709455 · Controller

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 21,895

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on November 30, 2024 (sell to cover).

SEC source: 0000950170-24-133094 · ownership.xml · nonDerivative · entry 1

Wood William David III · CIK 0001820468 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 47,609

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on November 30, 2024 (sell to cover).

SEC source: 0000950170-24-131230 · ownership.xml · nonDerivative · entry 2

MUTCH JOHN · CIK 0001228146 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 34,654

SEC source: 0000950170-24-131230 · ownership.xml · nonDerivative · entry 1

MUTCH JOHN · CIK 0001228146 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 35,022

SEC source: 0000950170-24-132322 · ownership.xml · derivative · entry 1

Robertson Chris J · CIK 0001709455 · Controller

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,351

Underlying: Common Stock · 1,351 shares

Expires not disclosed

F1 · derivative.exercise_price: Restricted stock units granted under the Agilysys, Inc. 2024 Equity Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock of Agilysys, Inc.

F2 · derivative.exercise_date: The restricted stock units vest in one-third increments on October 31, 2025, 2026 and 2027.

F2 · derivative.expiration_date: The restricted stock units vest in one-third increments on October 31, 2025, 2026 and 2027.

SEC source: 0000950170-24-132317 · ownership.xml · derivative · entry 1

Badger Kyle C · CIK 0001407935 · SVP, GC and Secretary

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,866

Underlying: Common Stock · 1,866 shares

Expires not disclosed

F1 · derivative.exercise_price: Restricted stock units granted under the Agilysys, Inc. 2024 Equity Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock of Agilysys, Inc.

F2 · derivative.exercise_date: The restricted stock units vest in one-third increments on October 31, 2025, 2026 and 2027.

F2 · derivative.expiration_date: The restricted stock units vest in one-third increments on October 31, 2025, 2026 and 2027.

SEC source: 0000950170-24-132314 · ownership.xml · derivative · entry 1

Wood William David III · CIK 0001820468 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 4,015

Underlying: Common Stock · 4,015 shares

Expires not disclosed

F1 · derivative.exercise_price: Restricted stock units granted under the Agilysys, Inc. 2024 Equity Incentive Plan. Each restricted stock unit represents a contingent right to receive one share of common stock of Agilysys, Inc.

F2 · derivative.exercise_date: The restricted stock units vest in one-third increments on October 31, 2025, 2026 and 2027.

F2 · derivative.expiration_date: The restricted stock units vest in one-third increments on October 31, 2025, 2026 and 2027.

SEC source: 0000950170-24-125779 · ownership.xml · nonDerivative · entry 2

KEATING MELVIN L · CIK 0001263463 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 34,407

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $122.00 to $123.45. The reporting person undertakes to provide to Agilysys, Inc., any security holder of Agilysys, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

SEC source: 0000950170-24-125779 · ownership.xml · nonDerivative · entry 1

KEATING MELVIN L · CIK 0001263463 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 37,687

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $117.22 to $119.00. The reporting person undertakes to provide to Agilysys, Inc., any security holder of Agilysys, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

SEC source: 0000950170-24-124710 · ownership.xml · nonDerivative · entry 2

KEATING MELVIN L · CIK 0001263463 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 39,587

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $116.16 to $118.18. The reporting person undertakes to provide to Agilysys, Inc., any security holder of Agilysys, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

SEC source: 0000950170-24-124710 · ownership.xml · nonDerivative · entry 1

KEATING MELVIN L · CIK 0001263463 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 41,507

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $112.22 to $115.70. The reporting person undertakes to provide to Agilysys, Inc., any security holder of Agilysys, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

SEC source: 0000950170-24-123622 · ownership.xml · nonDerivative · entry 1

MUTCH JOHN · CIK 0001228146 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 35,858

SEC source: 0000950170-24-120978 · ownership.xml · nonDerivative · entry 1

Wood William David III · CIK 0001820468 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 49,479

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on October 31, 2024 (sell to cover).

SEC source: 0000950170-24-120975 · ownership.xml · nonDerivative · entry 1

Robertson Chris J · CIK 0001709455 · Controller

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 22,624

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on October 31, 2024 (sell to cover).

SEC source: 0000950170-24-120970 · ownership.xml · nonDerivative · entry 1

Badger Kyle C · CIK 0001407935 · SVP, GC and Secretary

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 115,117

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on October 31, 2024 (sell to cover).

SEC source: 0000950170-24-105290 · ownership.xml · nonDerivative · entry 1

SRINIVASAN RAMESH · CIK 0001277036 · Director · President & CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 738,367

F1 · price: 1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.92 to $103.78. The reporting person undertakes to provide to Agilysys, Inc., any security holder of Agilysys, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

SEC source: 0000950170-24-104847 · ownership.xml · nonDerivative · entry 2

SRINIVASAN RAMESH · CIK 0001277036 · Director · President & CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 748,367

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $102.86 to $107.72. The reporting person undertakes to provide to Agilysys, Inc., any security holder of Agilysys, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

SEC source: 0000950170-24-104847 · ownership.xml · nonDerivative · entry 1

SRINIVASAN RAMESH · CIK 0001277036 · Director · President & CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 758,367

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $106.04 to $107.54. The reporting person undertakes to provide to Agilysys, Inc., any security holder of Agilysys, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

SEC source: 0000950170-24-104240 · ownership.xml · nonDerivative · entry 2

SRINIVASAN RAMESH · CIK 0001277036 · Director · President & CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 768,367

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $104.48 to $108.12. The reporting person undertakes to provide to Agilysys, Inc., any security holder of Agilysys, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

SEC source: 0000950170-24-104240 · ownership.xml · nonDerivative · entry 1

SRINIVASAN RAMESH · CIK 0001277036 · Director · President & CEO

10b5-1 filing: Plan reported

Ownership: Direct

Disclosed balance after: 778,367

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $107.69 to $111.93. The reporting person undertakes to provide to Agilysys, Inc., any security holder of Agilysys, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

SEC source: 0000950170-24-101962 · ownership.xml · nonDerivative · entry 1

MUTCH JOHN · CIK 0001228146 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 36,326

SEC source: 0000950170-24-101951 · ownership.xml · nonDerivative · entry 1

Robertson Chris J · CIK 0001709455 · Controller

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 22,888

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $108.28 to $109.82. The reporting person undertakes to provide to Agilysys, Inc., any security holder of Agilysys, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

SEC source: 0000950170-24-081692 · ownership.xml · nonDerivative · entry 2

Wood William David III · CIK 0001820468 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 50,067

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on June 30, 2024 (sell to cover).

SEC source: 0000950170-24-081689 · ownership.xml · nonDerivative · entry 2

Robertson Chris J · CIK 0001709455 · Controller

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 26,888

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on June 30, 2024 (sell to cover).

SEC source: 0000950170-24-081687 · ownership.xml · nonDerivative · entry 2

Badger Kyle C · CIK 0001407935 · SVP, GC and Secretary

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 115,588

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on June 30, 2024 (sell to cover).

SEC source: 0000950170-24-081692 · ownership.xml · nonDerivative · entry 1

Wood William David III · CIK 0001820468 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 50,228

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on June 30, 2024 (sell to cover).

SEC source: 0000950170-24-081689 · ownership.xml · nonDerivative · entry 1

Robertson Chris J · CIK 0001709455 · Controller

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 27,017

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on June 30, 2024 (sell to cover).

SEC source: 0000950170-24-081687 · ownership.xml · nonDerivative · entry 1

Badger Kyle C · CIK 0001407935 · SVP, GC and Secretary

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 115,834

F1 · kind: Shares sold to fund withholding tax obligations arising from the vesting of restricted Common Stock on June 30, 2024 (sell to cover).

SEC source: 0001019056-24-000206 · ownership.xml · nonDerivative · entry 3

MAK CAPITAL ONE LLC · CIK 0001385702 · Affiliate of Director

MAK Capital Fund LP · CIK 0001426156 · Affiliate of Director

Kaufman Michael A · CIK 0001426157 · Director

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnote

Disclosed balance after: 1,192,730

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated January 25, 2024 between MAK Capital One LLC ("MAK Capital") and BTIG, LLC.

F2 · ownership.nature: MAK Capital acts as the investment manager of MAK Capital Fund LP ("MAK Fund") and Michael A. Kaufman ("Mr. Kaufman") is the managing member of MAK Capital. Each of MAK Capital and Mr. Kaufman may be deemed to indirectly beneficially own the shares of Common Stock held by MAK Fund. Each of MAK Capital and Mr. Kaufman disclaims such beneficial ownership, except to the extent of its pecuniary interest therein. Each of MAK Capital, MAK Fund and Mr. Kaufman may be deemed to be a member of a "group" (within the meaning of Rule 13d-5 under the Act).

SEC source: 0001019056-24-000206 · ownership.xml · nonDerivative · entry 2

MAK CAPITAL ONE LLC · CIK 0001385702 · Affiliate of Director

MAK Capital Fund LP · CIK 0001426156 · Affiliate of Director

Kaufman Michael A · CIK 0001426157 · Director

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnote

Disclosed balance after: 1,253,407

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated January 25, 2024 between MAK Capital One LLC ("MAK Capital") and BTIG, LLC.

F2 · ownership.nature: MAK Capital acts as the investment manager of MAK Capital Fund LP ("MAK Fund") and Michael A. Kaufman ("Mr. Kaufman") is the managing member of MAK Capital. Each of MAK Capital and Mr. Kaufman may be deemed to indirectly beneficially own the shares of Common Stock held by MAK Fund. Each of MAK Capital and Mr. Kaufman disclaims such beneficial ownership, except to the extent of its pecuniary interest therein. Each of MAK Capital, MAK Fund and Mr. Kaufman may be deemed to be a member of a "group" (within the meaning of Rule 13d-5 under the Act).

SEC source: 0001019056-24-000206 · ownership.xml · nonDerivative · entry 1

MAK CAPITAL ONE LLC · CIK 0001385702 · Affiliate of Director

MAK Capital Fund LP · CIK 0001426156 · Affiliate of Director

Kaufman Michael A · CIK 0001426157 · Director

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Plan reported

Ownership: Indirect · See Footnote

Disclosed balance after: 1,298,407

F1 · kind: The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 Transaction Plan dated January 25, 2024 between MAK Capital One LLC ("MAK Capital") and BTIG, LLC.

F2 · ownership.nature: MAK Capital acts as the investment manager of MAK Capital Fund LP ("MAK Fund") and Michael A. Kaufman ("Mr. Kaufman") is the managing member of MAK Capital. Each of MAK Capital and Mr. Kaufman may be deemed to indirectly beneficially own the shares of Common Stock held by MAK Fund. Each of MAK Capital and Mr. Kaufman disclaims such beneficial ownership, except to the extent of its pecuniary interest therein. Each of MAK Capital, MAK Fund and Mr. Kaufman may be deemed to be a member of a "group" (within the meaning of Rule 13d-5 under the Act).