Form 4: Accel Entertainment Secretary Reports Share Sales Following RSU Vesting Under Pre-Planned Trading Arrangement

Accel Entertainment, Inc. Secretary Derek Harmer reported the acquisition of shares from Restricted Stock Unit (RSU) vesting and subsequent sales of Class A-1 Common Stock, including a tax-related disposition, all executed under a Rule 10b5-1(c) trading plan.

Summary

• Derek Harmer, Secretary of Accel Entertainment, Inc., reported transactions involving the company's Class A-1 Common Stock, executed under a pre-arranged Rule 10b5-1(c) trading plan.
• On June 14, 2025, Mr. Harmer acquired 1,847 shares of Class A-1 Common Stock at a price of $0 per share, resulting from the exercise of Restricted Stock Units (RSUs).
• Also on June 14, 2025, 542 shares of Class A-1 Common Stock were disposed of at $11.25 per share, likely to cover tax obligations associated with the RSU vesting.
• On June 16, 2025, Mr. Harmer sold 5,000 shares of Class A-1 Common Stock at a price of $11.36 per share.
• Following these reported transactions, Derek Harmer's beneficial ownership of Class A-1 Common Stock stands at 207,880 shares.
• The Restricted Stock Units (RSUs) have a vesting schedule where 1/4 vested on March 14, 2023, and the remainder vests as 1/16 of the total award in quarterly installments thereafter, contingent on Mr. Harmer's continued service.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While there is a sale of shares, it is a common occurrence following RSU vesting, and the fact that all transactions were pre-planned under a 10b5-1 plan mitigates any negative signal typically associated with insider sales.

Positives

• Acquisition of 1,847 shares of Class A-1 Common Stock at $0 cost through RSU vesting, indicating continued equity alignment and compensation for the executive.
• All reported transactions were conducted pursuant to a Rule 10b5-1(c) plan, which suggests pre-planned, non-discretionary trading and reduces the implication of reactive insider selling.

Negatives

• Disposition of 5,000 shares of Class A-1 Common Stock through a direct market sale, which reduces the executive's direct ownership stake.
• Disposition of 542 shares to cover tax obligations, a common practice for RSU vesting, but still a reduction in direct holdings.

Future Outlook

NA

Industry Context

This filing details routine insider trading activity by a company executive and does not provide broader insights into industry trends or competitive landscape.

Related Party Transactions

• Derek Harmer, as Secretary of Accel Entertainment, Inc., engaged in transactions involving the company's Class A-1 Common Stock, including the acquisition of shares from RSU vesting and subsequent sales, which are considered related party transactions.

Stakeholder Impact

• Shareholders: The sale of shares by a key executive could be perceived negatively by some, but the pre-planned nature (10b5-1 plan) and the relatively small volume compared to total outstanding shares suggest a limited impact on investor sentiment or share price.

Next Steps

• Continued quarterly vesting of remaining Restricted Stock Units (RSUs) as per the original grant schedule, subject to Derek Harmer's continuing service to the Issuer.

Key Dates

Recommendation

Keywords

Accel Entertainment, ACEL, Form 4, Insider Trading, Stock Sale, Restricted Stock Units, RSU Vesting, Derek Harmer, Equity Compensation, Rule 10b5-1