<SEC-DOCUMENT>0001019056-24-000097.txt : 20240216
<SEC-HEADER>0001019056-24-000097.hdr.sgml : 20240216
<ACCEPTANCE-DATETIME>20240216194148
ACCESSION NUMBER:		0001019056-24-000097
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240214
FILED AS OF DATE:		20240216
DATE AS OF CHANGE:		20240216

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MAK Capital Fund LP
		CENTRAL INDEX KEY:			0001426156
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05734
		FILM NUMBER:		24650206

	BUSINESS ADDRESS:	
		STREET 1:		590 MADISON AVENUE, 9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-486-3211

	MAIL ADDRESS:	
		STREET 1:		590 MADISON AVENUE, 9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MAK CAPITAL ONE LLC
		CENTRAL INDEX KEY:			0001385702
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05734
		FILM NUMBER:		24650207

	BUSINESS ADDRESS:	
		STREET 1:		590 MADISON AVENUE, 31ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-486-3291

	MAIL ADDRESS:	
		STREET 1:		590 MADISON AVENUE, 31ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER NAME:	
		FORMER CONFORMED NAME:	MAK Capital
		DATE OF NAME CHANGE:	20070109

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MAK Capital Distressed Debt Fund I, LP
		CENTRAL INDEX KEY:			0001760572
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05734
		FILM NUMBER:		24650205

	BUSINESS ADDRESS:	
		STREET 1:		MAK DDF-1 GP LLC
		STREET 2:		590 MADISON AVENUE, 24TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-486-3211

	MAIL ADDRESS:	
		STREET 1:		MAK DDF-1 GP LLC
		STREET 2:		590 MADISON AVENUE, 24TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Kaufman Michael A
		CENTRAL INDEX KEY:			0001426157
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05734
		FILM NUMBER:		24650204

	MAIL ADDRESS:	
		STREET 1:		590 MADISON AVENUE, 9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AGILYSYS INC
		CENTRAL INDEX KEY:			0000078749
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				340907152
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		3655 BROOKSIDE PARKWAY
		STREET 2:		SUITE 300
		CITY:			ALPHARETTA
		STATE:			GA
		ZIP:			30022
		BUSINESS PHONE:		7708107800

	MAIL ADDRESS:	
		STREET 1:		3655 BROOKSIDE PARKWAY
		STREET 2:		SUITE 300
		CITY:			ALPHARETTA
		STATE:			GA
		ZIP:			30022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIONEER STANDARD ELECTRONICS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-02-14</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000078749</issuerCik>
        <issuerName>AGILYSYS INC</issuerName>
        <issuerTradingSymbol>AGYS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001385702</rptOwnerCik>
            <rptOwnerName>MAK CAPITAL ONE LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>590 MADISON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001426156</rptOwnerCik>
            <rptOwnerName>MAK Capital Fund LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O WAKEFIELD QUIN</rptOwnerStreet1>
            <rptOwnerStreet2>VICTORIA PLACE, 31 VICTORIA STREET</rptOwnerStreet2>
            <rptOwnerCity>HAMILTON</rptOwnerCity>
            <rptOwnerState>D0</rptOwnerState>
            <rptOwnerZipCode>HM10</rptOwnerZipCode>
            <rptOwnerStateDescription>BERMUDA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001760572</rptOwnerCik>
            <rptOwnerName>MAK Capital Distressed Debt Fund I, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MAK CAPITAL ONE LLC</rptOwnerStreet1>
            <rptOwnerStreet2>590 MADISON AVENUE, 31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001426157</rptOwnerCik>
            <rptOwnerName>Kaufman Michael A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MAK CAPITAL ONE LLC</rptOwnerStreet1>
            <rptOwnerStreet2>590 MADISON AVENUE, 31ST FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2024-02-14</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>867729</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>82.59</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2060458</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The sale transaction reported on this Form 4 is effected pursuant to an Underwriting Agreement dated February 14, 2024 between MAK Capital One LLC (&quot;MAK Capital&quot;), MAK Capital Fund LP (&quot;MAK Fund&quot;), MAK Capital Distressed Debt Fund I, LP (&quot;MAK CDD Fund&quot;), Agilysys, Inc., and BTIG, LLC, pursuant to which a total of 867,729 shares of common stock, without par value, of Agilysys, Inc. are being sold by MAK Fund and MAK CDD Fund (718,605 shares are being sold by MAK Fund and 149,124 shares are being sold by MAK CDD) to BTIG, LLC. The closing date for the sale transaction is February 20, 2024.</footnote>
        <footnote id="F2">MAK Capital acts as the investment manager of MAK Fund and MAK CDD Fund. Michael A. Kaufman (&quot;Mr. Kaufman&quot;) 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 and MAK CDD 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, MAK CDD Fund and Mr. Kaufman may be deemed to be a member of a &quot;group&quot; (within the meaning of Rule 13d-5 under the Act) whose members in the aggregate beneficially own more than 10% of the outstanding shares of Common Stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>s/ Michael A. Kaufman, individually, and as Managing Member of MAK Capital One LLC and Authorized Signatory of MAK Capital Fund LP and MAK Capital Distressed Debt Fund I, LP</signatureName>
        <signatureDate>2024-02-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
