Churchill Downs Inc — Director's Dealing 2007

Jun 28, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHURCHILL DOWNS INC (CHDN)
CIK: 0000020212
Period of Report: 2007-06-26

Reporting Person: RICHARDSON DONALD R (Sr VP, Racing-Ch Downs Mgmt Co)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-26	Common Stock	M	4179	$27.23	Acquired	7227	Direct
2007-06-26	Common Stock	M	3689	$27.75	Acquired	10916	Direct
2007-06-26	Common Stock	M	3000	$22.625	Acquired	13916	Direct
2007-06-26	Common Stock	M	2106	$21.5	Acquired	16022	Direct
2007-06-26	Common Stock	M	2096	$32.5	Acquired	18118	Direct
2007-06-27	Common Stock	S	4070	$51.223	Disposed	14048	Direct
2007-06-28	Common Stock	S	1000	$51.49	Disposed	13048	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-26	Employee Stock Option (right to buy)	$21.5	M	2106	Disposed	2007-11-19	Common Stock (2106)	Direct
2007-06-26	Employee Stock Option (right to buy)	$22.625	M	3000	Disposed	2009-11-16	Common Stock (3000)	Direct
2007-06-26	Employee Stock Option (right to buy)	$27.23	M	4179	Disposed	2011-11-13	Common Stock (4179)	Direct
2007-06-26	Employee Stock Option (right to buy)	$27.75	M	3689	Disposed	2010-11-14	Common Stock (3689)	Direct
2007-06-26	Employee Stock Option (right to buy)	$32.5	M	2096	Disposed	2008-11-17	Common Stock (2096)	Direct