Mudd William E. 4

What Happened William E. Mudd, President and Chief Operating Officer of Churchill Downs Incorporated (CHDN), was granted 1,449 restricted stock units (RSUs) on March 19, 2026. The RSUs were reported as a derivative award (transaction code A) with a $0.00 per-share reported acquisition price; they will convert to common stock upon vesting.

Key Details

• Transaction date: 2026-03-19; Form 4 filed 2026-03-20 (timely filing).
• Grant: 1,449 restricted stock units, reported at $0.00 (derivative award).
• Vesting schedule: RSUs settle in common stock in one-third increments on each of December 31, 2026, December 31, 2027, and December 31, 2028 (per filing footnotes).
• Footnotes: F1 notes RSUs have no conversion price or expiration and will be settled in common stock on the dates above; F2 notes multi-year vesting.
• Shares owned after the transaction: not specified in the filing.

Context

• This was an equity award (compensation), not an open-market purchase or sale. RSUs are typically paid in shares when they vest and do not require an exercise payment.
• Such grants are common for executive compensation and do not by themselves indicate a buy or sell signal; they represent future potential ownership contingent on vesting.