[Form 4] Accel Entertainment, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Christen Kozlik, Accel Entertainment, Inc. Chief Accounting Officer and director, reported transactions dated 09/15/2025. The filing shows 1,875 RSUs granted (each RSU converts to one Class A-1 share on settlement for no consideration) and recorded as a transaction creating an additional 1,875 underlying shares. The filing also reports a disposition of 550 Class A-1 shares at $11.17 per share. After these transactions the reporting person's holdings are shown in the form as 7,734 shares (following the RSU acquisition) and 9,375 shares of Class A-1 common stock when counting derivative RSUs. The RSU grant vests: one-quarter on December 15, 2024 and the remainder in eight equal quarterly installments thereafter, subject to continued service. The form is signed by an attorney-in-fact on 09/16/2025.

Positive

• 1,875 RSUs granted aligns executive compensation with shareholder interests through service-based vesting
• Disclosure filed on Form 4 demonstrates compliance with insider reporting requirements

Negative

• 550 shares disposed at $11.17 reduces the reporting person's immediate ownership
• RSU vesting schedule extends over multiple quarters, delaying full alignment until vesting completion

Insights

Securities Analyst

TL;DR: Insider received RSUs and sold a small block of shares, indicating routine compensation vesting combined with partial monetization.

The 1,875 RSU grant is a compensation event that will convert to shares for no consideration upon settlement, increasing potential dilution modestly. The reported sale of 550 shares at $11.17 is a direct disposition reducing immediate beneficial ownership; the sale size appears small relative to total reported holdings but provides liquidity for the insider. Vesting terms (1/4 on December 15, 2024, remainder in eight quarterly installments) suggest a multi-quarter retention incentive tied to continued service. No additional material corporate actions, changes in control, or unusual derivative instruments are reported.

Corporate Governance Expert

TL;DR: Routine equity compensation with standard vesting and a minor open-market sale; governance implications appear limited.

The disclosure documents standard RSU-based compensation, aligning the Chief Accounting Officer with shareholder interests while retaining service-based vesting conditions. The small disposition of 550 shares at $11.17 should be evaluated against any company trading plans but is reported on Form 4, indicating compliance with Section 16 reporting. No departures, related-party transactions, or accelerated vesting events are disclosed. Overall, the filing reflects typical executive compensation and liquidity activity rather than governance concerns.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kozlik Christen

(Last) (First) (Middle)

140 TOWER DR.

(Street)

BURR RIDGE IL 60527

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Accel Entertainment, Inc. [ ACEL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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
Class A-1 Common Stock	09/15/2025		M		1,875	A	$0	7,734	D
Class A-1 Common Stock	09/15/2025		F		550	D	$11.17	7,184	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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
Restricted Stock Units (RSU)	(1)	09/15/2025		M			1,875	(2)	(2)	Class A-1 Common Stock	1,875	$0	9,375	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Class A-1 Common Stock upon settlement for no consideration.

2. 1/4 of the RSUs will vest on December 15, 2024, and the remainder will vest in eight equal quarterly installments thereafter, subject to the Reporting Person's continuing service to the Issuer on each vesting date.

Remarks:

	/s/ Derek Harmer, Attorney-in-fact for Christen Kozlik	09/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transactions did ACEL Chief Accounting Officer Christen Kozlik report on Form 4?

She reported a grant of 1,875 RSUs and the disposition of 550 Class A-1 shares sold at $11.17 per share, both dated 09/15/2025.

How many RSUs were granted to the ACEL reporting person and what do they represent?

1,875 RSUs were reported; each RSU represents a contingent right to receive one Class A-1 share upon settlement for no consideration.

What is the vesting schedule for the RSUs reported by ACEL (ACEL) insider?

One-quarter vests on December 15, 2024 and the remainder vests in eight equal quarterly installments, subject to continued service.

What were the reporting person's total beneficial holdings after the transactions?

The Form shows 7,734 Class A-1 shares following the non-derivative transactions and 9,375 shares when counting the RSU-derived shares reported in the form.

Who signed the Form 4 for Christen Kozlik and when was it signed?

The Form 4 was signed by Derek Harmer, Attorney-in-fact for Christen Kozlik on 09/16/2025.