Are David Ruttenberg’s Accel Entertainment RSU grants open-market share purchases?

No, these Accel Entertainment RSU grants are not open-market share purchases. They are compensation-related awards, including deferred director fees, with no cash paid for the units. Each RSU may convert into a share of Class A-1 Common Stock once vesting requirements are met.

Director defers fees into RSUs at Accel Entertainment (NYSE: ACEL)

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Ruttenberg David W. reported acquisition or exercise transactions in this Form 4 filing.

Accel Entertainment, Inc. director David W. Ruttenberg reported receiving two grants of restricted stock units (RSUs) tied to Class A-1 Common Stock. One award covers 13,914 RSUs and a second covers 8,091 RSUs, each representing the right to receive one share at settlement for no cash payment.

All of these RSUs are scheduled to vest on December 31, 2026, as long as he continues serving the company through that date. A portion of the RSUs reflects his election to defer his annual cash retainer and committee fees into RSUs, turning cash compensation into stock-based awards.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Ruttenberg David W.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit (RSU)	13,914	$0.00	--
Grant/Award	Restricted Stock Units (RSU)	8,091	$0.00	--

Holdings After Transaction: Restricted Stock Unit (RSU) — 13,914 shares (Direct); Restricted Stock Units (RSU) — 8,091 shares (Direct)

Footnotes (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. 100% of the RSUs will vest on December 31, 2026, subject to the Reporting Person's continued service to the Issuer on the vesting date. Represents RSUs granted pursuant to the Reporting Person's election to defer receipt of his or her annual cash retainer and chair and/or committee member fees in the form of RSUs. 100% of the RSUs will vest on December 31, 2026, subject to the Reporting Person's continued service to the Issuer on the vesting date.

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Form 4 Insider Transactions: What Each Field Means →

03/23/2026 - 06:01 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^*

Ruttenberg David W.

(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)
03/19/2026

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)

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)
Restricted Stock Unit (RSU)	⁽¹⁾	03/19/2026		A		13,914		⁽²⁾	⁽²⁾	Class A-1 Common Stock	13,914	$0	13,914	D
Restricted Stock Units (RSU)	⁽¹⁾	03/19/2026		A		8,091		⁽³⁾	⁽³⁾	Class A-1 Common Stock	8,091	$0	8,091	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. 100% of the RSUs will vest on December 31, 2026, subject to the Reporting Person's continued service to the Issuer on the vesting date.

3. Represents RSUs granted pursuant to the Reporting Person's election to defer receipt of his or her annual cash retainer and chair and/or committee member fees in the form of RSUs. 100% of the RSUs will vest on December 31, 2026, subject to the Reporting Person's continued service to the Issuer on the vesting date.

Remarks:

	/s/Derek Harmer, Attorney-in-fact for David W. Ruttenberg	03/23/2026
	** 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 transaction did ACEL director David W. Ruttenberg report?

David W. Ruttenberg reported receiving two grants of restricted stock units in Accel Entertainment. He was awarded 13,914 RSUs and 8,091 RSUs, each convertible into one share of Class A-1 Common Stock at settlement, with no cash purchase required from him.

How many RSUs did ACEL director Ruttenberg receive in total?

Ruttenberg received 22,005 restricted stock units in total from Accel Entertainment. One grant covers 13,914 RSUs and another covers 8,091 RSUs, each providing a contingent right to one share of Class A-1 Common Stock when they settle, subject to vesting conditions.

When do David Ruttenberg’s Accel Entertainment RSUs vest?

All of David Ruttenberg’s reported Accel Entertainment RSUs vest on December 31, 2026. Vesting requires his continued service to the company through that date, meaning he must remain in his role for the units to convert into Class A-1 Common Stock.

How are ACEL director Ruttenberg’s RSUs priced and settled?

Ruttenberg’s RSUs do not require a purchase price and are granted at a transaction price of zero. Each restricted stock unit represents a contingent right to receive one share of Accel Entertainment Class A-1 Common Stock upon settlement, once the vesting conditions are satisfied.

Why did David Ruttenberg receive some Accel Entertainment RSUs?

Part of Ruttenberg’s RSUs comes from electing to defer his annual cash retainer and chair or committee fees into stock units. Instead of receiving cash now, he chose RSUs that vest on December 31, 2026, aligning more of his compensation with Accel Entertainment equity performance.