Company: ACEL
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001698991-25-000011
Chunk: 94

Company: Accel Entertainment, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 94
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 a period of 1 year for Directors.  The RSUs are valued using the stock price on the grant date and had an estimated grant date fair value of $9.8 million.

F-40

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

The following table sets forth the activities of the Company’s RSUs for the years ended December 31, 2024, 2023 and 2022.Non-vested RSUsSharesWeighted Average Grant Date Fair ValueNonvested at January 1, 20221,593,729 $11.55 Granted569,600 $12.16 Vested (1)(383,088)$11.51 Forfeited(361,532)$11.03 Nonvested at December 31, 20221,418,709 $11.94 Granted937,738 $9.36 Vested (2)(652,767)$11.11 Forfeited(150,014)$11.07 Nonvested at December 31, 20231,553,666 $10.81 Granted918,103 $10.67 Vested (3)(765,463)$11.12 Forfeited(155,269)$10.10 Nonvested at December 31, 20241,551,037 $10.65  (1) Includes 273,358 RSUs that are vested and not issued. (2) Includes 379,719 RSUs that are vested and not issued. (3) Includes 522,270 RSUs that are vested and not issued.Grant of PSUsThe Company issued 149,381 PSUs to eligible employees during the year ended December 31, 2024. The PSUs are valued using the stock price and a performance expense factor on the grant date and had an estimated grant date fair value of $1.7 million. Performance-based shares vest based upon the passage of time and the achievement of performance conditions, in an amount ranging from 0% to 200% of the grant amount, as determined by the Compensation Committee prior to the date of the award. Vesting periods for these awards are 2 to 3 years, with each year weighted equally in determining such average. The Company reviews the progress toward the attainment of the performance condition for each quarter during the vesting period. When it is probable the