Form 4: Churchill Downs Director Karole Lloyd Receives Stock Grant

Director Karole Lloyd received a grant of restricted stock from Churchill Downs Inc. related to their 2024 director service.

Summary

• Karole Lloyd, a director of Churchill Downs Inc., reported a transaction on April 23, 2024, involving the acquisition of 1,255.06 shares of common stock.
• These shares were granted as restricted stock in connection with their 2024 director service and will vest one year from the grant date.
• The price of the stock at the time of the grant was $0, and the closing price of CHDN common stock on April 23, 2024, was used to determine the amount of restricted stock granted.
• Following the transaction, Lloyd beneficially owns 35,621.98 shares of Churchill Downs Inc.
• This total includes restricted stock and 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 restricted stock units will be transferred upon the reporting person's completion of service as a director.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (stock grant) for director compensation, which is generally viewed neutrally to positively as it aligns interests. There are no indications of negative sentiment.

Positives

• The grant of restricted stock aligns the director's interests with the long-term performance of the company.
• The vesting period encourages continued service and commitment from the director.

Future Outlook

The restricted stock will vest one year from the grant date, contingent on continued service as a director.

Industry Context

Grants of restricted stock are a common form of compensation for directors of publicly traded companies, aligning their interests with those of shareholders.

Stakeholder Impact

• The stock grant aligns the director's interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates