Andrea M. Carter - Apr 25, 2023 Form 4 Insider Report for Churchill Downs Inc (CHDN)

Role
Director
Signature
Paula Chumbley Attorney-in-Fact for Andrea Carter
Stock symbol
CHDN
Transactions as of
Apr 25, 2023
Transactions value $
$0
Form type
4
Date filed
4/27/2023, 04:08 PM
Previous filing
Apr 4, 2023
Next filing
Jun 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CHDN Common Stock Award $0 +611 +521.39% $0.00 728 Apr 25, 2023 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 Restricted stock units granted in connection with 2023 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 vested restricted stock units are transferred upon the reporting person's completion of service as a director. The closing price of CHDN common stock on April 25, 2023, was used to determine the number of restricted stock units granted.
F2 Restricted stock units do not have a conversion price or expiration date.
F3 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.