Company: ACEL
Filing Date: 2025-04-11
Form Type: 8-K
Source: 0001628280-25-017516
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Company: Accel Entertainment, Inc.
Filing Date: 2025-04-11
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 10, 2025, Eden Godsoe, a Class 3 director on the Board of Directors (the “ Board”) of Accel Entertainment, Inc. (the "Company"), informed the Company that she will not stand for reelection at the Company’s upcoming 2025 Annual Meeting of Stockholders (the “ Annual Meeting”). Ms. Godsoe’s decision not to stand for reelection was not due to any disagreement with the Company on any matter relating to its operations, policies, or practices.

The Company thanks Ms. Godsoe for her service and contributions to the Board.

In addition, on April 10, 2025, the Board appointed Cheryl Kondra, effective immediately, as a Class 2 director on the Board with a term expiring at the Company’s 2027 Annual Meeting of Stockholders. Following the Annual Meeting, Mrs. Kondra will be appointed as Chair of the Audit Committee of the Board (the “ Audit Committee”) and as a member of the Compensation Committee of the Board (the “ Compensation Committee”). In connection with Ms. Kondra’s appointment to the Board, the Company increased the size of the Board from 8 to 9 directors.

In accordance with the Company’s practice of providing compensation to its non-employee directors, Ms. Kondra will receive, in respect of her service on the Board for the remainder of calendar year 2025, the prorated amounts of the following cash fees (i) $65,000 for serving on the Board, (ii) $25,000 for serving as the Chair of the Audit Committee and (iii) $10,000 for serving on the Compensation Committee. Ms. Kondra will also receive an initial restricted stock unit grant pursuant to the Company’s Amended and Restated Long Term Incentive Plan equal to the prorated amount of $140,000, subject to a vesting period ending on December 31, 2025 and subject to her continued service to the Company through such date. In addition, the Company intends to enter into a standard form of indemnity agreement with Ms. Kondra, a copy of which was filed with the Securities and Exchange Commission as Exhibit 10.5 to the Company’s Current Report on Form 8-K (File No. 333-236501) dated November