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Churchill Downs (CHDN) director awarded 2,257 restricted stock units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Churchill Downs Inc director Douglas C. Grissom reported an acquisition of 2,257 restricted stock units of common stock on April 21, 2026. The units were granted for 2026 director service and will vest one year from the grant’s anniversary date.

Each restricted stock unit is the economic equivalent of one share of common stock. After this grant, Grissom directly holds a total of 42,622.29 shares, including restricted stock units and related dividend equivalents, with the vested shares to be delivered when his service as a director ends.

Positive

  • None.

Negative

  • None.
Insider GRISSOM DOUGLAS C
Role null
Type Security Shares Price Value
Grant/Award Common Stock 2,257 $0.00 --
Holdings After Transaction: Common Stock — 42,622.29 shares (Direct, null)
Footnotes (1)
  1. Restricted stock units granted in connection with 2026 director service which will vest one year from the anniversary of the grant date. Each restricted stock unit is the economic equivalent of one share of common stock. The closing price of CHDN common stock on April 21, 2026, was used to determine the number of restricted stock units granted. Restricted stock units do not have a conversion price or expiration date. Includes restricted stock units granted for service as a director and dividends awarded for such units. The equivalent shares of common stock related to the vested units will be transferred upon the reporting person's completion of service as a director.
RSUs granted 2,257 restricted stock units Grant for 2026 director service on April 21, 2026
Holdings after transaction 42,622.29 shares Direct holdings following the April 21, 2026 grant
Reported transaction price $0.0000 per share Indicates non-cash equity award structure
Transaction code Code A (Grant, award, or other acquisition) Non-derivative Form 4 transaction classification
Transaction direction Acquire Equity compensation award rather than open-market buy
Restricted stock units financial
"Restricted stock units granted in connection with 2026 director service which will vest one year from the anniversary of the grant date."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
economic equivalent financial
"Each restricted stock unit is the economic equivalent of one share of common stock."
dividends awarded financial
"Includes restricted stock units granted for service as a director and dividends awarded for such units."
conversion price financial
"Restricted stock units do not have a conversion price or expiration date."
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
expiration date financial
"Restricted stock units do not have a conversion price or expiration date."
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
GRISSOM DOUGLAS C
(Last)(First)(Middle)
600 N. HURSTBOURNE PARKWAY, SUITE 400
(Street)
LOUISVILLE KENTUCKY 40222
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Churchill Downs Inc [ CHDN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/21/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock04/21/2026A2,257(1)A$0(2)42,622.29(3)D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Restricted stock units granted in connection with 2026 director service which will vest one year from the anniversary of the grant date. Each restricted stock unit is the economic equivalent of one share of common stock. The closing price of CHDN common stock on April 21, 2026, was used to determine the number of restricted stock units granted.
2. Restricted stock units do not have a conversion price or expiration date.
3. Includes restricted stock units granted for service as a director and dividends awarded for such units. The equivalent shares of common stock related to the vested units will be transferred upon the reporting person's completion of service as a director.
Remarks:
Paula Chumbley, Attorney-in-Fact for Douglas C. Grissom04/23/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Douglas C. Grissom report at Churchill Downs (CHDN)?

Douglas C. Grissom reported receiving 2,257 restricted stock units of Churchill Downs common stock. The grant reflects compensation for 2026 director service and is recorded as an acquisition, not an open-market purchase, with no cash price per share in the transaction details.

When do the newly granted Churchill Downs (CHDN) restricted stock units vest?

The 2,257 restricted stock units granted for 2026 director service vest one year from the anniversary of the April 21, 2026 grant date. Vesting timing ties the award directly to Grissom’s continued service on the Churchill Downs board during that year.

How many Churchill Downs (CHDN) shares does Douglas C. Grissom hold after this Form 4?

After the April 21, 2026 award, Douglas C. Grissom directly holds 42,622.29 shares of Churchill Downs common stock. This total includes restricted stock units and dividend equivalents, with equivalent common shares to be transferred when his director service is completed.

What are the key terms of the Churchill Downs (CHDN) restricted stock units granted?

Each restricted stock unit is the economic equivalent of one share of Churchill Downs common stock and has no conversion price or expiration date. The closing stock price on April 21, 2026, was used to determine how many units equaled the intended grant value.

Are the Churchill Downs (CHDN) restricted stock units a cash purchase by Douglas C. Grissom?

No, the Form 4 shows the 2,257 restricted stock units as a grant with a reported price of $0.0000 per share. This indicates an equity compensation award for director service, not an open-market cash purchase of Churchill Downs common stock.