STOCK TITAN

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

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

David W. Ruttenberg, a director of Accel Entertainment, Inc. (ACEL), reported two sales of Class A-1 common stock on 09/15/2025 executed under a Rule 10b5-1 trading plan adopted on December 15, 2023. Each reported sale line shows 12,500 shares sold at weighted-average prices of approximately $11.1064, with reported price ranges of $11.00–$11.21 and $11.01–$11.205. Following the transactions, Ruttenberg’s indirect beneficial ownership is reported as 248,135 shares for securities held in the Crilly Court Trust and 388,026 shares for securities held by Grant Place Fund LLC. The filing was signed by an attorney-in-fact on 09/16/2025. The report states the sales were pursuant to the 10b5-1 plan and disclaims beneficial ownership by the trust and LLC except to the extent of pecuniary interest.

David W. Ruttenberg, presidente di Accel Entertainment, Inc. (ACEL), ha segnalato due vendite di azioni ordinarie di Classe A-1 il 15/09/2025, effettuate nell’ambito di un piano di trading ai sensi della Rule 10b5-1 adottato il 15 dicembre 2023. Ogni vendita riportata riguarda 12.500 azioni vendute a prezzi medi ponderati di circa $11.1064, con intervalli di prezzo riportati di $11.00–$11.21 e $11.01–$11.205. A seguito delle operazioni, la proprietà indiretta vantata da Ruttenberg è riportata come 248.135 azioni per i titoli detenuti nel Crilly Court Trust e 388.026 azioni per i titoli detenuti da Grant Place Fund LLC. La dichiarazione è stata firmata da un procuratore in fatto il 16/09/2025. Il documento afferma che le vendite sono state effettuate ai sensi del piano 10b5-1 e respinge la proprietà benefica da parte del trust e della LLC, salvo la misura dell’interesse pecuniario.

David W. Ruttenberg, director de Accel Entertainment, Inc. (ACEL), informó de dos ventas de acciones comunes clase A-1 el 15/09/2025, realizadas bajo un plan de negociación Rule 10b5-1 adoptado el 15 de diciembre de 2023. Cada venta reportada indica 12.500 acciones vendidas a precios medios ponderados de aproximadamente $11.1064, con rangos de precio reportados de $11.00–$11.21 y $11.01–$11.205. Tras las operaciones, la titularidad indirecta de Ruttenberg se reporta en 248.135 acciones de valores mantenidos en el Crilly Court Trust y 388.026 acciones de valores mantenidos por Grant Place Fund LLC. La presentación fue firmada por un apoderado el 16/09/2025. El informe indica que las ventas se realizaron conforme al plan 10b5-1 y excluye la titularidad beneficiosa por parte del trust y de la LLC, salvo en la medida del interés pecuniario.

David W. Ruttenberg는 Accel Entertainment, Inc. (ACEL)의 이사로, 2023년 12월 15일에 채택된 Rule 10b5-1 거래 계획에 따라 2025년 9월 15일에 실행된 Class A-1 보통주 두 차례 매매를 보고했습니다. 각 보고된 매매는 약 12,500주가 가중평균가 $11.1064로 매도되었으며, 보고된 가격 범위는 $11.00–$11.21$11.01–$11.205입니다. 거래 후 Ruttenberg의 간접적 소유권은 Crilly Court Trust에 보유된 증권 248,135주와 Grant Place Fund LLC가 보유한 증권 388,026주로 보고됩니다. 제출은 2025년 9월 16일에 대리인에 의해 서명되었습니다. 보고서는 매매가 10b5-1 계획에 따른 것이며 신탁 및 LLC의 유익한 소유권은 금전적 이해의 범위를 제외하고 부인된다고 명시합니다.

David W. Ruttenberg, directeur d'Accel Entertainment, Inc. (ACEL), a signalé deux ventes d'actions ordinaires de classe A-1 le 15/09/2025, effectuées dans le cadre d'un plan de négociation Rule 10b5-1 adopté le 15 décembre 2023. Chaque vente déclarée porte sur 12 500 actions vendues à des prix moyens pondérés d'environ $11.1064, avec des fourchettes de prix indiquées de $11.00–$11.21 et $11.01–$11.205. Suite aux transactions, la propriété bénéficiaire indirecte de Ruttenberg est déclarée à 248.135 actions pour les valeurs détenues dans le Crilly Court Trust et 388.026 actions pour les valeurs détenues par Grant Place Fund LLC. Le dépôt a été signé par un mandataire le 16/09/2025. Le rapport précise que les ventes ont été effectuées conformément au plan 10b5-1 et refuse la propriété bénéficiaire par le trust et la LLC, sauf dans la mesure de l’intérêt pécuniaire.

David W. Ruttenberg, Direktor von Accel Entertainment, Inc. (ACEL), meldete zwei Verkäufe von Class A-1 Stammaktien am 15.09.2025, die im Rahmen eines Rule 10b5-1-Handelsplans vorgenommen wurden, der am 15. Dezember 2023 angenommen wurde. Jeder gemeldete Verkauf umfasst 12.500 Aktien, die zu gewichteten Durchschnittspreisen von ca. $11.1064 verkauft wurden, mit angegebenen Preisspannen von $11.00–$11.21 und $11.01–$11.205. Nach den Transaktionen wird Ruttenbergs indirekter wirtschaftlicher Eigentum mit 248.135 Aktien für Wertpapiere geführt, die im Crilly Court Trust gehalten werden, und 388.026 Aktien für Wertpapiere, die von Grant Place Fund LLC gehalten werden. Die Einreichung wurde von einem Bevollmächtigten am 16.09.2025 unterzeichnet. Der Bericht erklärt, dass die Verkäufe gemäß dem 10b5-1-Plan erfolgt sind und bestreitet die wirtschaftliche Eigentümerschaft durch den Trust und die LLC, außer im Umfang des finanziellen Interesses.

David W. Ruttenberg، مدير في Accel Entertainment, Inc. (ACEL)، أبلغ عن عمليتي بيع لسندات عادية من الفئة A-1 في 15/09/2025، والتي تمت بموجب خطة تداول Rule 10b5-1 المعتمدة في 15 ديسمبر 2023. يبيّن كل سطر من البيع المبلغ عنه 12,500 سهم تم بيعها بسعر وزني تقريبي قدره $11.1064، مع نطاقات سعر مذكورة قدرها $11.00–$11.21 و $11.01–$11.205. عقب المعاملات، تُذكر الملكية المفيدة غير المباشرة لرُوتينبيرغ بمقدار 248,135 سهمًا للأوراق المالية المحتفظ بها في Crilly Court Trust و388,026 سهمًا للأوراق المالية المحتفظ بها من Grant Place Fund LLC. وتم توقيع الإبلاغ من قبل وكيل مفوَّض في 16/09/2025. يذكر التقرير أن البيع تم وفق خطة 10b5-1 وينفي الملكية المفيدة من قبل الثقة و LLC باستثناء نطاق المصالح المالية.

David W. Ruttenberg,作为 Accel Entertainment, Inc.(ACEL)的一名董事,报告了在 2025-09-15 通过在 2023-12-15 公司已采纳的 Rule 10b5-1 交易计划执行的两笔 Class A-1 普通股出售。每笔已披露的出售均为 12,500 股,以大约 $11.1064 的加权平均价格出售,披露的价格区间为 $11.00–$11.21$11.01–$11.205。交易完成后,Ruttenberg 的间接受益所有权被列为 248,135 股,属于 Crilly Court Trust 持有的证券,以及 388,026 股,属于 Grant Place Fund LLC 持有的证券。该申报由受托代理人于 2025-09-16 签署。报告称销售遵循 10b5-1 计划,并否认对信托与 LLC 的受益所有权,除非在金钱利益的范围内。

Positive
  • Sales executed under a documented Rule 10b5-1 plan, which supports adherence to an established trading policy.
  • Detailed pricing disclosure provided as weighted averages with price ranges and an undertaking to supply per-price breakdowns on request.
  • Indirect holdings disclosed by entity (Crilly Court Trust and Grant Place Fund LLC) with standard disclaimers, improving transparency.
Negative
  • Insider disposition of 25,000 shares may be perceived negatively by some market participants despite being under a 10b5-1 plan.
  • Form disclaims beneficial ownership for the trust and LLC, which can limit clarity about the reporting person’s full economic exposure.

Insights

TL;DR: Director sold 25,000 Class A-1 shares under a pre-established 10b5-1 plan at ~ $11.11 per share; ownership remains materially disclosed.

The reported transactions total 25,000 shares sold on 09/15/2025 in multiple executions at weighted-average prices near $11.11. Sales were executed under a 10b5-1 plan adopted 12/15/2023, which provides an affirmative defense under Rule 10b5-1 when properly adopted. The filing discloses indirect holdings in two entities: Crilly Court Trust (248,135 shares) and Grant Place Fund LLC (388,026 shares), with customary disclaimers of beneficial ownership except for pecuniary interest. For investors, these are transparent, pre-planned disposals rather than opportunistic market sales, and the report includes price ranges and an undertaking to provide per-price breakdowns upon request.

TL;DR: Insider followed a documented 10b5-1 plan; filing provides necessary disclosures and entity-level ownership clarifications.

The Form 4 indicates compliance with Section 16 disclosure requirements and explicitly states the existence of a 10b5-1 plan adopted in December 2023. The report clarifies indirect ownership via a trust and an LLC and includes the required disclaimers regarding beneficial ownership. The signature by an attorney-in-fact is noted, and the filing supplies weighted-average prices and ranges for the reported dispositions. Documentation in the filing supports governance transparency, though it does not address any motivations or broader governance implications beyond disclosure.

David W. Ruttenberg, presidente di Accel Entertainment, Inc. (ACEL), ha segnalato due vendite di azioni ordinarie di Classe A-1 il 15/09/2025, effettuate nell’ambito di un piano di trading ai sensi della Rule 10b5-1 adottato il 15 dicembre 2023. Ogni vendita riportata riguarda 12.500 azioni vendute a prezzi medi ponderati di circa $11.1064, con intervalli di prezzo riportati di $11.00–$11.21 e $11.01–$11.205. A seguito delle operazioni, la proprietà indiretta vantata da Ruttenberg è riportata come 248.135 azioni per i titoli detenuti nel Crilly Court Trust e 388.026 azioni per i titoli detenuti da Grant Place Fund LLC. La dichiarazione è stata firmata da un procuratore in fatto il 16/09/2025. Il documento afferma che le vendite sono state effettuate ai sensi del piano 10b5-1 e respinge la proprietà benefica da parte del trust e della LLC, salvo la misura dell’interesse pecuniario.

David W. Ruttenberg, director de Accel Entertainment, Inc. (ACEL), informó de dos ventas de acciones comunes clase A-1 el 15/09/2025, realizadas bajo un plan de negociación Rule 10b5-1 adoptado el 15 de diciembre de 2023. Cada venta reportada indica 12.500 acciones vendidas a precios medios ponderados de aproximadamente $11.1064, con rangos de precio reportados de $11.00–$11.21 y $11.01–$11.205. Tras las operaciones, la titularidad indirecta de Ruttenberg se reporta en 248.135 acciones de valores mantenidos en el Crilly Court Trust y 388.026 acciones de valores mantenidos por Grant Place Fund LLC. La presentación fue firmada por un apoderado el 16/09/2025. El informe indica que las ventas se realizaron conforme al plan 10b5-1 y excluye la titularidad beneficiosa por parte del trust y de la LLC, salvo en la medida del interés pecuniario.

David W. Ruttenberg는 Accel Entertainment, Inc. (ACEL)의 이사로, 2023년 12월 15일에 채택된 Rule 10b5-1 거래 계획에 따라 2025년 9월 15일에 실행된 Class A-1 보통주 두 차례 매매를 보고했습니다. 각 보고된 매매는 약 12,500주가 가중평균가 $11.1064로 매도되었으며, 보고된 가격 범위는 $11.00–$11.21$11.01–$11.205입니다. 거래 후 Ruttenberg의 간접적 소유권은 Crilly Court Trust에 보유된 증권 248,135주와 Grant Place Fund LLC가 보유한 증권 388,026주로 보고됩니다. 제출은 2025년 9월 16일에 대리인에 의해 서명되었습니다. 보고서는 매매가 10b5-1 계획에 따른 것이며 신탁 및 LLC의 유익한 소유권은 금전적 이해의 범위를 제외하고 부인된다고 명시합니다.

David W. Ruttenberg, directeur d'Accel Entertainment, Inc. (ACEL), a signalé deux ventes d'actions ordinaires de classe A-1 le 15/09/2025, effectuées dans le cadre d'un plan de négociation Rule 10b5-1 adopté le 15 décembre 2023. Chaque vente déclarée porte sur 12 500 actions vendues à des prix moyens pondérés d'environ $11.1064, avec des fourchettes de prix indiquées de $11.00–$11.21 et $11.01–$11.205. Suite aux transactions, la propriété bénéficiaire indirecte de Ruttenberg est déclarée à 248.135 actions pour les valeurs détenues dans le Crilly Court Trust et 388.026 actions pour les valeurs détenues par Grant Place Fund LLC. Le dépôt a été signé par un mandataire le 16/09/2025. Le rapport précise que les ventes ont été effectuées conformément au plan 10b5-1 et refuse la propriété bénéficiaire par le trust et la LLC, sauf dans la mesure de l’intérêt pécuniaire.

David W. Ruttenberg, Direktor von Accel Entertainment, Inc. (ACEL), meldete zwei Verkäufe von Class A-1 Stammaktien am 15.09.2025, die im Rahmen eines Rule 10b5-1-Handelsplans vorgenommen wurden, der am 15. Dezember 2023 angenommen wurde. Jeder gemeldete Verkauf umfasst 12.500 Aktien, die zu gewichteten Durchschnittspreisen von ca. $11.1064 verkauft wurden, mit angegebenen Preisspannen von $11.00–$11.21 und $11.01–$11.205. Nach den Transaktionen wird Ruttenbergs indirekter wirtschaftlicher Eigentum mit 248.135 Aktien für Wertpapiere geführt, die im Crilly Court Trust gehalten werden, und 388.026 Aktien für Wertpapiere, die von Grant Place Fund LLC gehalten werden. Die Einreichung wurde von einem Bevollmächtigten am 16.09.2025 unterzeichnet. Der Bericht erklärt, dass die Verkäufe gemäß dem 10b5-1-Plan erfolgt sind und bestreitet die wirtschaftliche Eigentümerschaft durch den Trust und die LLC, außer im Umfang des finanziellen Interesses.

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).
X
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 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)
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 S(1) 12,500 D $11.1064(2) 248,135 I See Footnote(3)
Class A-1 Common Stock 09/15/2025 S(1) 12,500 D $11.1064(4) 388,026 I See Footnote(5)
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 shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 15, 2023 (and to which each of Crilly Court Trust and Grant Place Fund LLC is a party). The 10b5-1 plan included a representation from the Reporting Person to the broker administering the plan that the Reporting Person was not in possession of any material nonpublic information regarding the Issuer or the securities subject to the plan. That representation was made as of the date of the adoption of the 10b5-1 plan, and speaks only as of that date. In making that representation, there is no assurance with respect to any material nonpublic information of which the Reporting Person was unaware, or with respect to any material nonpublic information acquired by the Reporting Person after the date of the representation.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.00 to $11.21, 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.
3. Securities are held by the Crilly Court Trust, of which the Reporting Person is a beneficiary. 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.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.01 to $11.205, 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.
5. Securities are held by Grant Place Fund LLC, of which the Reporting Person is the Manager. 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 David W. Ruttenberg 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).
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 ACEL insider David W. Ruttenberg sell on 09/15/2025?

The Form 4 reports two dispositions of 12,500 Class A-1 shares each (total 25,000 shares) sold on 09/15/2025.

At what prices were the ACEL shares sold by the insider?

The reported weighted-average price is approximately $11.1064 per share; individual sale prices ranged from $11.00 to $11.21 and $11.01 to $11.205 across the reported transactions.

Were the sales by the ACEL director part of a trading plan?

Yes. The sales were made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 15, 2023.

How many ACEL shares does Ruttenberg indirectly hold after these transactions?

The filing reports indirect holdings of 248,135 shares held by the Crilly Court Trust and 388,026 shares held by Grant Place Fund LLC.

Who signed the Form 4 for David W. Ruttenberg?

The Form 4 was signed by Derek Harmer, Attorney-in-fact for David W. Ruttenberg on 09/16/2025.
Accel Entertainment Inc

NYSE:ACEL

ACEL Rankings

ACEL Latest News

ACEL Latest SEC Filings

ACEL Stock Data

938.19M
50.33M
16.93%
73.33%
1.54%
Gambling
Services-amusement & Recreation Services
Link
United States
BURR RIDGE