Churchill Downs Inc — Director's Dealing 2007

Jun 19, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHURCHILL DOWNS INC (CHDN)
CIK: 0000020212
Period of Report: 2007-06-15

Reporting Person: DUNN C KENNETH (President-Calder Race Course)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-15	Common Stock	M	1368	$35.95	Acquired	7342	Direct
2007-06-15	Common Stock	M	7262	$38.92	Acquired	14604	Direct
2007-06-15	Common Stock	S	700	$53.90	Disposed	13904	Direct
2007-06-15	Common Stock	S	201	$53.51	Disposed	13703	Direct
2007-06-15	Common Stock	S	500	$53.52	Disposed	13203	Direct
2007-06-15	Common Stock	S	500	$53.50	Disposed	12703	Direct
2007-06-15	Common Stock	S	100	$53.51	Disposed	12603	Direct
2007-06-15	Common Stock	S	1464	$53.50	Disposed	11139	Direct
2007-06-15	Common Stock	S	200	$53.43	Disposed	10939	Direct
2007-06-15	Common Stock	S	100	$53.41	Disposed	10839	Direct
2007-06-15	Common Stock	S	500	$53.40	Disposed	10339	Direct
2007-06-15	Common Stock	S	100	$53.10	Disposed	10239	Direct
2007-06-15	Common Stock	S	100	$53.07	Disposed	9324	Direct
2007-06-15	Common Stock	S	815	$53.08	Disposed	9424	Direct
2007-06-15	Common Stock	S	100	$53.08	Disposed	9224	Direct
2007-06-15	Common Stock	S	3250	$53.00	Disposed	5974	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-15	Employee Stock Option (right to buy)	$35.92	M	1368	Disposed	2012-06-19	Common Stock (1368)	Direct
2007-06-15	Employee Stock Option (right to buy)	$38.92	M	7262	Disposed	2012-11-12	Common Stock (7262)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5974	Direct