Churchill Downs Inc — Director's Dealing 2016

Oct 4, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHURCHILL DOWNS Inc (CHDN)
CIK: 0000020212
Period of Report: 2016-10-04

Reporting Person: Bridgeman Ulysses L Jr (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-04	Phantom Stock	$	A	80.2870	Acquired		Common Stock (80.2870)	Direct

Footnotes

F1: Phantom share units awarded in connection with the election to defer compensation. Each phantom share unit is the economic equivalent of one share of common stock. The shares of common stock are transferred uon the reporting person's completion of service as a director.

F2: The closing price of CHDN common stock on September 30, 2016 was used to determine the number of phantom shares awarded.

F3: Deferred compensation in the form of restricted units entitling the recipient to the future issuance of an equivalent number of shares of Common Stock.