What is the 9,000-share transaction reported for ACEL in this Form 4?

The 9,000-share transaction is reported as a bona fide gift of Class A-1 Common Stock. It involved securities held indirectly through an affiliated LLC and was recorded at a price of $0.0000 per share, consistent with a non-cash gift transfer rather than a sale.

Accel Entertainment (ACEL) director-linked entities sell 59K shares and gift 9K

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Accel Entertainment director Gordon Rubenstein, through entities associated with him, reported transactions in Class A-1 Common Stock. An affiliated LLC and an IRA sold a combined 59,277 shares in open-market trades at weighted average prices near $11.34–$11.55 per share, and the LLC made a bona fide gift of 9,000 shares.

Insider Trade Summary

Net Seller: 59,277 shares ($675,001)

Net Sell 5 txns

Insider Rubenstein Gordon

Role null

Sold 59,277 shs ($675K)

Type	Security	Shares	Price	Value
Sale	Class A-1 Common Stock	4,946	$11.5544	$57K
Sale	Class A-1 Common Stock	7,985	$11.5544	$92K
Gift	Class A-1 Common Stock	9,000	$0.00	--
Sale	Class A-1 Common Stock	17,728	$11.3406	$201K
Sale	Class A-1 Common Stock	28,618	$11.3406	$325K

Holdings After Transaction: Class A-1 Common Stock — 0 shares (Indirect, By IRA)

Footnotes (1)

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.28 to $11.39, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein. Securities are held by Fund Indy LLC, of which the Reporting Person is the sole Member. The Reporting Person disclaims beneficial ownership over such securities except to the extent of his pecuniary interest therein, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.39 to $11.66, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.

Key Figures

Total shares sold: 59,277 shares Gifted shares: 9,000 shares Weighted average sale price (first set): $11.3406 per share +2 more

5 metrics

Total shares sold 59,277 shares Open-market or private sales of Class A-1 Common Stock

Gifted shares 9,000 shares Bona fide gift from affiliated LLC

Weighted average sale price (first set) $11.3406 per share Sales in a range from $11.28 to $11.39

Weighted average sale price (second set) $11.5544 per share Sales in a range from $11.39 to $11.66

Gift transaction price $0.0000 per share Bona fide gift of 9,000 shares

Key Terms

bona fide gift, weighted average price, pecuniary interest, beneficial ownership, +1 more

5 terms

bona fide gift financial

"transaction_code_description: "Bona fide gift""

A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

pecuniary interest financial

"disclaims beneficial ownership over such securities except to the extent of his pecuniary interest therein"

beneficial ownership financial

"shall not be deemed an admission of beneficial ownership of the reported securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Section 16 regulatory

"for purposes of Section 16 or for any other purposes"

Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.

Form 4 Insider Transactions: What Each Field Means →

05/11/2026 - 05:11 PM

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Rubenstein Gordon

(Last)

(First)

(Middle)

C/O ACCEL ENTERTAINMENT, INC.

140 TOWER DRIVE

(Street)

BURR RIDGE

ILLINOIS

60527

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A-1 Common Stock	05/07/2026		S		17,728	D	$11.3406⁽¹⁾	4,946	I	By IRA
Class A-1 Common Stock	05/07/2026		S		28,618	D	$11.3406⁽¹⁾	16,985	I	See Footnote⁽²⁾
Class A-1 Common Stock	05/08/2026		S		4,946	D	$11.5544⁽³⁾	0	I	By IRA
Class A-1 Common Stock	05/08/2026		S		7,985	D	$11.5544⁽³⁾	9,000	I	See Footnote⁽²⁾
Class A-1 Common Stock	05/08/2026		G		9,000	D	$0	0	I	See Footnote⁽²⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.28 to $11.39, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.

2. Securities are held by Fund Indy LLC, of which the Reporting Person is the sole Member. The Reporting Person disclaims beneficial ownership over such securities except to the extent of his pecuniary interest therein, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.39 to $11.66, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.

Remarks:

	/s/ Derek Harmer, Attorney-in-fact for Gordon Rubenstein	05/11/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did ACEL director Gordon Rubenstein report?

Rubenstein reported that entities associated with him transacted in Accel Entertainment Class A-1 Common Stock. They sold 59,277 shares in open-market trades and transferred 9,000 shares as a bona fide gift, all recorded as indirect holdings rather than direct personal ownership.

How many Accel Entertainment (ACEL) shares were sold in this Form 4?

Entities associated with Rubenstein sold a total of 59,277 shares of Accel Entertainment Class A-1 Common Stock. These were reported as open-market or private transactions, executed at weighted average prices around $11.34 and $11.55 per share on the reported dates.

At what prices were ACEL shares sold in Rubenstein’s Form 4 filing?

The filing shows weighted average sale prices of $11.3406 and $11.5544 per share for Accel Entertainment Class A-1 Common Stock. Footnotes explain these averages reflect multiple trades between $11.28–$11.39 and $11.39–$11.66 per share, respectively, across the reported transactions.

Who actually held the ACEL shares involved in Rubenstein’s transactions?

The filing states some shares were held by Fund Indy LLC, where Rubenstein is the sole member, and others by an IRA. It notes he disclaims beneficial ownership of the LLC-held securities except to the extent of his pecuniary interest in that entity.

Are Gordon Rubenstein’s ACEL holdings direct or indirect in this Form 4?

All reported positions are indirect holdings. The Form 4 classifies them as held through Fund Indy LLC and an IRA, both marked with indirect ownership codes, rather than shares held directly in Rubenstein’s own name as an individual shareholder.