Form 4: Accel Entertainment Director David Ruttenberg Sells Shares Under 10b5-1 Trading Plan

David Ruttenberg, a director at Accel Entertainment, sold 25,000 shares of Class A-1 Common Stock on February 18, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• On February 18, 2025, David W. Ruttenberg, a director of Accel Entertainment, sold 25,000 shares of Class A-1 Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on December 15, 2023.
• 12,500 shares were sold at a weighted average price of $12.3522, with individual prices ranging from $12.23 to $12.44.
• Another 12,500 shares were sold at a weighted average price of $12.3507, with individual prices ranging from $12.24 to $12.43.
• Following the transactions, Ruttenberg directly owns no shares but indirectly owns 475,526 shares through Grant Place Fund LLC and 335,635 shares through Crilly Court Trust.
• Ruttenberg disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to insider trading. The sentiment is neutral as it simply reports transactions without expressing any opinion or forward-looking statements.

Industry Context

Sales by insiders are a common occurrence and are often planned in advance, especially through mechanisms like 10b5-1 trading plans to avoid accusations of trading on material non-public information. The market typically views these sales in the context of the overall insider holdings and the reasons behind the sale.

Stakeholder Impact

• The share sale could have a minor negative impact on shareholder sentiment, although the use of a 10b5-1 plan suggests the sale was pre-planned and not based on current negative information.

Key Dates

Keywords

Accel Entertainment, David Ruttenberg, Form 4, Share Sale, 10b5-1 Trading Plan, Director, ACEL, Grant Place Fund LLC, Crilly Court Trust