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 on April 15 and 16, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• David W. Ruttenberg, a director of Accel Entertainment, sold Class A-1 Common Stock on April 15 and 16, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on December 15, 2023.
• On April 15, 2024, 7,131 shares were sold at a weighted average price of $11.0082, and 7,161 shares were sold at a weighted average price of $11.0066.
• On April 16, 2024, 5,369 shares were sold at a weighted average price of $11.0499, and 5,339 shares were sold at a weighted average price of $11.0407.
• The shares were sold at prices ranging from $10.91 to $11.11 and $10.77 to $11.18 on April 15 and 16 respectively.
• Following these transactions, Ruttenberg directly owns 446,914 and 586,866 shares through the Crilly Court Trust and Grant Place Fund LLC respectively.
• Ruttenberg disclaims beneficial ownership of shares held by the Crilly Court Trust and Grant Place Fund LLC except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transactions were part of a pre-planned trading plan. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Sales by insiders are common and often pre-planned using 10b5-1 plans to avoid accusations of trading on inside information. The market will often look at the size and frequency of insider sales to determine if there is a negative sentiment from within the company.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates