Rubenstein Andrew H. 4

What Happened
Andrew H. Rubenstein, reported as a 10% owner of Accel Entertainment, had 29,345 restricted stock units (RSUs) convert into 29,345 shares on 2026-03-10 (conversion/exercise of a derivative at $0.00). To satisfy tax withholding obligations, 10,548 of those shares were withheld/disposed at $11.45 per share, totaling $120,775. The conversion itself required no cash payment by Rubenstein.

Key Details

• Transaction dates: conversion and tax-withholding occurred on 2026-03-10; Form 4 filed 2026-03-12 (timely filing).
• Conversion: 29,345 RSUs → 29,345 shares (code M, $0.00 per share).
• Tax withholding: 10,548 shares withheld/disposed (code F) at $11.45 each = $120,775.
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 clarifies each RSU settles for 1 share with no cash consideration; F2 notes a 1/3 vesting schedule on each of the first three anniversaries of the grant date.
• Transaction codes explained: M = exercise/conversion of derivative (RSU settlement); F = shares withheld to satisfy tax liability.

Context
This was an RSU settlement and routine tax withholding, not an open-market sale or cash purchase—common when equity awards vest. As a reported 10% owner, Rubenstein's activity is a beneficial-ownership disclosure rather than an indicative open-market trade.