Company: ACEL
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001698991-25-000011
Chunk: 96

Company: Accel Entertainment, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 96
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 Company going public. Upon going public, the Company used the closing market stock price on the date of grant.  The fair value assigned to each option was estimated on the date of grant using a Black-Scholes-based option valuation model. The expected term of each option granted represented the period of time that each option granted is expected to be outstanding. The risk-free rate for periods within the contractual life of the unit is based on U.S. Treasury yields in effect at the time of grant.Starting on January 1, 2023, the Company discontinued the use of stock options as part of the LTIP and there were no stock options granted to eligible officers and employees during 2023 and 2024.The following assumptions were used in the option valuation model for options granted during the year ended December 31 as follows:2022Expected approximate volatility60%Expected dividendsNoneExpected term (in years)7Risk-free rate2.12% - 4.04%

F-42

Table of ContentsAccel Entertainment, Inc. and SubsidiariesNotes to Consolidated Financial Statements — (Continued)

A summary of the options granted and the range in vesting periods based on specific provisions within the option agreements during the year ended December 31, are as follows:2022Options granted315,881Vesting period (in years)4The following table sets forth the activities of the Company’s outstanding stock options for the years ended December 31, 2024, 2023, and 2022.Outstanding optionsSharesWeighted Average Grant Date Fair ValueWeighted Average Exercise PriceOutstanding at  January 1, 20221,556,486 $4.51 $10.47 Granted315,881 $7.30 $12.09 Exercised(136,998)$2.20 $5.93 Forfeited/expired(436,960)$4.79 $10.97 Outstanding at December 31, 20221,298,409 $7.25 $11.18 Granted— $— $— Exercised(80,315)$1.65 $4.67 Forfeited/expired(58,717)$5.25 $12.10 Outstanding at December 31, 20231,159,377 $5.60 $11.58 Granted— $— $— Exercised(55,173)$