ACEL Form 4: 1,846 RSUs settled; 541 shares sold at $11.13

Rhea-AI Filing Summary

Derek Harmer, an officer of Accel Entertainment, Inc. (ACEL), reported transactions on 09/14/2025 involving the company’s Class A-1 Common Stock. The filing shows 1,846 restricted stock units (RSUs) were settled as shares at no cost to the reporting person, and 541 shares were sold at a price of $11.13 each. Following the reported transactions the filing lists beneficial ownership figures of 214,153 shares and 213,612 shares in separate lines associated with the transactions. The RSUs represent contingent rights to receive one share each, with vesting terms described in the filing.

Insights

Securities Analyst

TL;DR: Officer received 1,846 RSUs settled into shares and sold 541 shares at $11.13 on 09/14/2025; activity appears routine.

The filing documents a standard equity compensation settlement and a contemporaneous open-market sale. The settlement of 1,846 RSUs at no cost increases the reporting person’s direct holdings by that amount, while the sale of 541 shares at $11.13 reduced holdings. The disclosure includes the total beneficial ownership counts reported after each transaction. This pattern is common for executives realizing vested equity and does not, by itself, disclose any company-level operational changes.

Corporate Governance Expert

TL;DR: This Form 4 records routine vesting and a partial sale under standard officer compensation arrangements.

The explanation clarifies the RSU award terms and vesting schedule: one-quarter vested on March 14, 2023, with the remainder vesting in quarterly installments (1/16 of the total award per installment), conditional on continued service. The filing is signed and dated 09/16/2025, and contains no indications of unusual arrangements, related-party transactions, or changes to governance policy.

Insider Trade Summary

1,846 shares exercised/converted

Mixed 3 txns

Insider Harmer Derek

Role Secretary

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit (RSU)	1,846	$0.00	--
Exercise	Class A-1 Common Stock	1,846	$0.00	--
Tax Withholding	Class A-1 Common Stock	541	$11.13	$6K

Holdings After Transaction: Restricted Stock Unit (RSU) — 3,693 shares (Direct); Class A-1 Common Stock — 214,153 shares (Direct)

Footnotes (1)

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. 1/4 of the RSUs will vest on March 14, 2023, and the remainder will vest as to 1/16 of the total award in quarterly installments thereafter, subject to the Reporting Person's continuing service to the Issuer on each vesting date.

Form 4 Insider Transactions: What Each Field Means →

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
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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^*

Harmer Derek

(Last) (First) (Middle)

C/O ACCEL ENTERTAINMENT, INC.

140 TOWER DRIVE

(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)
	Secretary

3. Date of Earliest Transaction (Month/Day/Year)
09/14/2025

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	09/14/2025		M		1,846	A	$0	214,153	D
Class A-1 Common Stock	09/14/2025		F		541	D	$11.13	213,612	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 Unit (RSU)	(1)	09/14/2025		M			1,846	(2)	(2)	Class A-1 Common Stock	1,846	$0	3,693	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 March 14, 2023, and the remainder will vest as to 1/16 of the total award in quarterly installments thereafter, subject to the Reporting Person's continuing service to the Issuer on each vesting date.

Remarks:

	/s/ Derek Harmer	09/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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