Rankin Richard Alex 4

What Happened

• Richard Alex Rankin, a director of Churchill Downs Incorporated (CHDN), received an award of 2,257 restricted stock units (RSUs) on April 21, 2026. The RSUs were granted at $0.00 per unit (no cash paid) and thus have a reported acquisition value of $0. These RSUs are the economic equivalent of common shares and will vest one year from the grant date.

Key Details

• Transaction date: 2026-04-21; Form filed: 2026-04-23 (appears filed within the standard 2-business-day reporting window).
• Reported award: 2,257 restricted stock units; price: $0.00; reported aggregate dollar amount: $0.
• Shares owned after transaction: Not disclosed in the filing.
• Footnotes from the filing:
  • F1: RSUs granted for 2026 director service and will vest one year from the anniversary of the grant. Number of units was determined using the closing CHDN price on 4/21/2026.
  • F2: RSUs have no conversion price or expiration date.
  • F3: Grant includes dividend awards for such units; equivalent shares of common stock related to vested units will be transferred upon completion of the reporting person’s director service.

Context

• This is an equity compensation award (code A), a routine form of director pay rather than an open-market purchase or sale. RSU grants do not require cash outlay by the recipient and do not necessarily signal buying/selling intent. Upon vesting (one year), units convert economically to shares per the company’s terms and any related shares will be delivered as described in the footnotes.