GRISSOM DOUGLAS C 4

What Happened Douglas C. Grissom, a director of Churchill Downs Incorporated (CHDN), was granted 2,257 restricted stock units (RSUs) on April 21, 2026. The RSUs were granted at $0.00 per unit (award), so no cash changed hands. Each RSU is the economic equivalent of one share of common stock and will vest one year from the grant anniversary.

Key Details

• Transaction date: April 21, 2026 (Form 4 filed April 23, 2026). Transaction code: A (award/grant).
• Quantity: 2,257 RSUs; grant price reported as $0.00 (award).
• Value: The filing used the closing price of CHDN common stock on April 21, 2026 to determine the number of RSUs; the filing does not state a cash purchase price.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes: RSUs vest one year from the grant date (F1); RSUs have no conversion price or expiration (F2); grant includes RSUs for director service plus dividend equivalents, and equivalent shares are transferred upon completion of the director’s service (F3).
• Timeliness: Filed two days after the grant date (appears timely under Form 4 reporting rules).

Context This is a routine equity-based director compensation award (not a market purchase or sale). RSUs generally align director pay with shareholder interests and only convert to shares upon vesting or completion of service, so the grant itself is not a sell or buy signal.