AGYS Agilysys Inc

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES                                                                                   
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

1. Name and Address of Reporting Person * SRINIVASAN RAMESH	2. Issuer Name and Ticker or Trading Symbol AGILYSYS INC [ AGYS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director                    _____ 10% Owner __X__ Officer (give title below)    _____ Other (specify below) President & CEO
(Last)          (First)          (Middle) 1000 WINDWARD CONCOURSE, SUITE 250	3. Date of Earliest Transaction (MM/DD/YYYY) 2/10/2020
(Street) ALPHARETTA, GA 30005 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock-settled Appreciation Right	$36.60	2/10/2020		A		475000		(1)	8/10/2024	Common Stock	475000	$0.00	475000	D
Stock-settled Appreciation Right	$36.60	2/10/2020		A		125000		(2)	8/10/2024	Common Stock	125000	$0.00	125000	D

Explanation of Responses:
(1)	The Stock-settled Appreciation Right vests in monthly amounts of 13,194 shares for 20 months beginning March 1, 2020, and in monthly amounts of 13,195 shares for 16 months beginning November 1, 2021.
(2)	The Stock-settled Appreciation Right vests, if at all, if the closing price of Agilysys' common stock equals or exceeds $45 for 15 business days, in which case, on the following day it vests pro-rata daily until December 31, 2023, regardless of the price performance thereafter.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
SRINIVASAN RAMESH 1000 WINDWARD CONCOURSE SUITE 250 ALPHARETTA, GA 30005	X		President & CEO

Signatures
/s/ Kyle C. Badger, Attorney-in-Fact		2/12/2020
**Signature of Reporting Person		Date