Form 4: Churchill Downs Director Douglas Grissom Reports Changes in Beneficial Ownership

Director Douglas Grissom reports acquisition of phantom share units and holdings of common stock in Churchill Downs Inc.

Summary

• On March 31, 2024, Douglas C. Grissom, a director of Churchill Downs Inc., filed a Form 4 to report changes in beneficial ownership.
• Grissom acquired 277.78 phantom share units at a price of $0.
• These phantom share units are awarded in connection with the election to defer compensation and are economically equivalent to one share of common stock each.
• The closing price of CHDN common stock on March 28, 2024, was used to determine the number of phantom shares awarded.
• Following the reported transaction, Grissom beneficially owns 24,529.67 shares of common stock.
• The holding is comprised of restricted stock units granted for service as a director, phantom share units granted in connection with deferred compensation elections and dividends awarded for each unit.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating standard compensation practices. Sentiment is neutral.

Positives

• The acquisition of phantom share units indicates continued alignment of the director's interests with the company's performance.
• The director's holdings include restricted stock units, phantom share units, and dividends, demonstrating a long-term commitment to the company.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the director's holdings and compensation.

Key Dates