AGILYSYS, INC. (NASDAQ:AGYS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June 19, 2017, Agilysys, Inc. announced that Tony Pritchett,
age 35, was appointed to serve as Vice President and Chief
Financial Officer of the Company on June 14, 2017.
Mr. Pritchett has served as the Company’s Interim Chief
Financial Officer (CFO) since November 2016. Prior to assuming
the role of Interim CFO, Mr. Pritchett served as the Company’s
Senior Director of Operations. He joined the Company in January
2012 as Controller of the Company’s Retail Solutions Group, and
following the divestiture of the Retail Solutions Group served as
the Company’s Corporate Controller. Prior to joining the
Company, Mr. Pritchett served in various senior roles, including
as director of financial reporting at Premier Global Services,
Inc. and prior to that in Grant Thornton’s assurance practice.
Mr. Pritchett, a certified public accountant, graduated from the
University of Georgia in 2005 with a Bachelor of Business
Administration degree in accounting along with a Master of
Accountancy.
Mr. Pritchett’s annual salary will be $230,000, and his fiscal
year annual incentive opportunity will be equal to 50% of his
base salary. He received 15,000 stock settled stock appreciation
rights (SSARs) and 15,000 restricted shares upon his appointment.
His SSARs have an exercise price of $9.84, a seven-year term, and
vest ratably over a three-year period, on March 31, 2018, 2019
and 2020. The restricted shares vest ratably over the same
vesting period as the SSARs. In addition, Mr. Pritchett was
granted a $50,000 cash bonus in connection with his appointment.
The Company previously entered into an employment agreement with
Mr. Pritchett whereby he will be paid six months of his current
base salary and his target annual incentive and will receive one
year of his health and welfare benefits upon a termination of his
employment by the Company without cause, or upon a substantial
change to his responsibilities or compensation if Mr. Pritchett
terminates his employment within the 30-day period following such
change. He will be paid twelve months of his current base salary
and his target annual incentive and will receive one year of his
health and welfare benefits upon a termination of his employment
for the same reasons within the two years following a change in
control.
His employment agreement contains provisions for the protection
of the Company’s confidential information for an indefinite
period and non-compete and non-solicitation clauses for a
one-year period. His employment agreement has a three-year term
that ends on October 31, 2017. Other than his employment
arrangements, Mr. Pritchett is not a party to any related person
transactions with the Company or any of its executive officers,
directors, or related persons and does not have any family
relationships with any of the Company’s executive officers,
directors, or related persons.
Item 9.01 |
Financial Statements and Exhibits. |
The following items are filed as exhibits to this current report
on Form 8-K:
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99.1 |
Agilysys, Inc. Press Release dated June 19, 2017. |
AGILYSYS INC ExhibitEX-99.1 2 pressrelease991.htm PRESS RELEASE Exhibit 99.1 AGILYSYS APPOINTS TONY PRITCHETT CHIEF FINANCIAL OFFICER Assumes Role Following Service as Interim CFO Alpharetta,…To view the full exhibit click here About AGILYSYS, INC. (NASDAQ:AGYS)
Agilysys, Inc. is a technology company. The Company provides software for point-of-sale (POS), property management, inventory and procurement, workforce management, analytics, document management, and mobile and wireless solutions and services to the hospitality industry. The Company serves four market sectors: gaming, both corporate and tribal; hotels, resorts and cruise; foodservice management, and restaurants, universities, stadia and healthcare. The Company is a developer and marketer of software enabled solutions and services to the hospitality industry, including hardware and software products; support, maintenance and subscription services, and professional services. The rGuest platform is designed to run as a Software-as-a-Service (SaaS)-based platform on the public cloud, private cloud, on-premise or in a hybrid configuration. The rGuest platform includes various in-market solutions, such as rGuest Stay, rGuest Buy, rGuest Seat, rGuest Pay and rGuest Analyze.
