Form 4: Accel Entertainment Executive Mark T. Phelan Reports Stock Transactions
SEC Form 4 Filing
Mark T. Phelan, President, U.S. Gaming at Accel Entertainment, reports the acquisition and disposal of Class A-1 Common Stock and Restricted Stock Units on April 13, 2024.
Summary
- On April 13, 2024, Mark T. Phelan, President, U.S. Gaming at Accel Entertainment, reported transactions involving Class A-1 Common Stock and Restricted Stock Units (RSUs).
- Phelan acquired 1,018 shares of Class A-1 Common Stock through the vesting of Restricted Stock Units.
- Simultaneously, Phelan disposed of 299 shares of Class A-1 Common Stock to cover tax obligations at a price of $11.01 per share.
- Following these transactions, Phelan directly owns 186,546 shares of Class A-1 Common Stock and 1,019 Restricted Stock Units.
- The RSUs vest in quarterly installments, with the initial vesting occurring on July 13, 2021, and continuing as long as Phelan remains employed by Accel Entertainment.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions by an executive, with no indication of unusual or concerning activity. It's a neutral event.
Future Outlook
The remaining RSUs will continue to vest in quarterly installments, contingent upon Phelan's continued service to Accel Entertainment.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be informative for investors.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 07/13/2021 | Initial vesting date for 1/4 of the Restricted Stock Units. |
| 04/13/2024 | Date of the reported stock transactions (acquisition and disposal). |
| 04/16/2024 | Date of the signature on the Form 4 filing. |
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