Maureen Adams - 31 Dec 2025 Form 4 Insider Report for Churchill Downs Inc (CHDN)

Role
EVP, Gaming Operations
Signature
Paula Chumbley, Attorney-In-Fact for Maureen Adams
Issuer symbol
CHDN
Transactions as of
31 Dec 2025
Net transactions value
-$163,502
Form type
4
Filing time
05 Jan 2026, 16:12:27 UTC
Previous filing
12 Feb 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Adams Maureen EVP, Gaming Operations 600 N. HURSTBOURNE PARKWAY, S-400, LOUISVILLE Paula Chumbley, Attorney-In-Fact for Maureen Adams 05 Jan 2026 0001942305

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CHDN Common Stock Options Exercise $0 +2,959 +22% $0.000000 16,558 31 Dec 2025 Direct F1
transaction CHDN Common Stock Tax liability $163,502 -1,437 -8.7% $113.78 15,121 31 Dec 2025 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CHDN Restricted Stock Units Options Exercise $0 -2,959 -66% $0.000000 1,491 31 Dec 2025 Common Stock 2,959 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Maureen Adams is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 The reporting person is voluntarily reporting the acquisition of 178 shares acquired under the Churchill Downs Incorporated Employee Stock Purchase Plan (the "ESPP") for the period August 1, 2024 through July 31, 2025.
F2 Based on the closing price of common stock on December 31, 2025.
F3 Restricted stock units do not have a conversion price or expiration date.
F4 Restricted stock vests over a multi-year period.