Accel Entertainment (ACEL) director reports 176,709-share open‑market sale

Rhea-AI Filing Summary

Accel Entertainment director Gordon Rubenstein reported open‑market sales of 176,709 shares of Class A‑1 Common Stock. On March 12, 2026, he sold 3,766 shares held directly at a weighted average price around $11.37 per share.

Additional sales involved indirect holdings, including 39,169 shares held through Fund Indy LLC and 133,774 shares held by an IRA, also around $11.37 per share. Following these transactions, Rubenstein reported no directly held shares, with remaining positions disclosed only as indirect holdings.

Insights

Insider transactions analyst

Director reports sizable net share sale, mainly from indirect holdings.

Gordon Rubenstein, a director of Accel Entertainment, reported three open‑market sales totaling 176,709 shares of Class A‑1 Common Stock at weighted average prices around $11.37 on March 12, 2026. All are coded as open‑market sales (code S), a strong‑signal transaction type.

The filing shows 3,766 shares sold from his direct account, and larger blocks from indirect accounts, including 39,169 shares held by Fund Indy LLC and 133,774 shares held by an IRA. A footnote attributes the Fund Indy LLC holdings to that entity and notes that Rubenstein disclaims beneficial ownership except for his pecuniary interest.

After these trades, the direct holding line shows zero shares, while the indirect lines still show remaining balances of 45,603 shares for Fund Indy LLC and 22,674 shares for the IRA. The overall impact depends on how these remaining indirect positions compare with the company’s total shares outstanding, which is not detailed here.

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^*

Rubenstein Gordon

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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	03/12/2026		S		3,766	D	$11.3723(1)	0	D
Class A-1 Common Stock	03/12/2026		S		39,169	D	$11.3741(1)	45,603	I	See Footnote(2)
Class A-1 Common Stock	03/12/2026		S		133,774	D	$11.3732(1)	22,674	I	By IRA

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

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 $11.30 to $11.45, 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.

Remarks:

	/s/ Derek Harmer, Attorney-in-fact for Gordon Rubenstein	03/16/2026
	** 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.

FAQ

What did Accel Entertainment (ACEL) director Gordon Rubenstein report in this Form 4?

He reported three open‑market sales totaling 176,709 shares of Accel Entertainment Class A‑1 Common Stock on March 12, 2026, at weighted average prices around $11.37, covering both his direct holdings and shares held through indirect accounts such as an LLC and an IRA.

How many Accel Entertainment (ACEL) shares did Gordon Rubenstein sell directly and indirectly?

He sold 3,766 Accel Entertainment shares held directly and 172,943 shares from indirect holdings, including 39,169 shares through Fund Indy LLC and 133,774 shares through an IRA, for a combined total of 176,709 Class A‑1 Common Stock shares sold in these transactions.

What prices did Gordon Rubenstein receive for his Accel Entertainment (ACEL) share sales?

The reported weighted average sale prices were approximately $11.37 per share, with transactions executed in ranges from $11.30 to $11.45. Individual lines show prices of $11.3723, $11.3741, and $11.3732 for the different blocks of Class A‑1 Common Stock sold.

How many Accel Entertainment (ACEL) shares does Gordon Rubenstein hold after these transactions?

Following the reported sales, the direct holding line shows zero shares. Indirectly, the filing lists 45,603 shares remaining for Fund Indy LLC and 22,674 shares for an IRA, indicating that Rubenstein’s continuing exposure is now entirely through these indirect accounts rather than direct ownership.

What does the Fund Indy LLC footnote mean in Gordon Rubenstein’s Accel (ACEL) Form 4?

The footnote states that securities are held by Fund Indy LLC, where Rubenstein is the sole member, and he disclaims beneficial ownership except for his pecuniary interest. This means the LLC is the formal holder, and the shares are attributed to the entity rather than purely personal holdings.

Were Gordon Rubenstein’s Accel Entertainment (ACEL) share sales pre-planned under a trading plan?

The disclosed footnotes describe weighted average pricing and the entity structure for Fund Indy LLC but do not reference any Rule 10b5‑1 or similar pre‑arranged trading plan. The transactions are simply characterized as open‑market or private sales coded as “S.”