Agilysys, Inc. has entered into a new three-year employment agreement with President and CEO, Ramesh Srinivasan, effective June 18, 2026. The agreement maintains his current base salary and bonus structure and includes a significant new grant of restricted stock units (RSUs) valued at $6.8 million, split between time-based and performance-based vesting conditions.
Key Details
- Agreement Term: The new agreement has an initial term of three years, with automatic one-year renewals unless either party provides 90 days' notice of non-renewal.
- Compensation: Mr. Srinivasan's annual base salary remains at $600,000. He is eligible for an annual target bonus equal to 100% of his base salary (up to a maximum of 150%), payable in shares of common stock based on performance goals.
- RSU Grant: The CEO was granted 78,269 RSUs, valued at $6.8 million on the grant date. 50% of the grant is time-based, vesting primarily on the second anniversary. The remaining 50% is performance-based, vesting upon the achievement of 20-day VWAP stock price targets of $105, $120, and $135 per share within three years.