Form 4: Accel Entertainment Director David W. Ruttenberg Executes Stock Sales Under 10b5-1 Plan

David W. Ruttenberg, a director at Accel Entertainment, sold shares of Class A-1 Common Stock under a pre-arranged 10b5-1 trading plan.

Summary

• On June 12, 2024, David W. Ruttenberg, a director of Accel Entertainment, sold shares of Class A-1 Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on December 15, 2023.
• Ruttenberg sold 5,210 shares at a weighted average price of $10.5223, with individual prices ranging from $10.50 to $10.58.
• He also sold 5,301 shares at a weighted average price of $10.5217, with individual prices ranging from $10.50 to $10.59.
• Following the transactions, Ruttenberg directly owns no shares, but indirectly owns 436,335 shares through the Crilly Court Trust and 576,226 shares through Grant Place Fund LLC.
• Ruttenberg disclaims beneficial ownership of these indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales by a company director under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider transactions.

Risks

• The 10b5-1 plan includes 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.
• 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.

Industry Context

This filing is a routine disclosure of insider trading activity and provides transparency to the market regarding transactions by company insiders. It is common for executives to use 10b5-1 plans to diversify their holdings and avoid accusations of trading on inside information.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholder sentiment, but the transactions were pre-planned and executed under a 10b5-1 plan.

Key Dates