Churchill Downs Inc — Director's Dealing 2017

Jan 4, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHURCHILL DOWNS Inc (CHDN)
CIK: 0000020212
Period of Report: 2016-12-31

Reporting Person: Mudd William E (President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-12-31	Common Stock	M	12500.0000	$150.4500	Acquired	76834.2994	Direct
2016-12-31	Common Stock	M	4222.0000	$150.4500	Acquired	81056.2994	Direct
2016-12-31	Common Stock	F	2117.0000	$150.4500	Disposed	78939.2994	Direct
2016-12-31	Common Stock	F	5978.0000	$150.4500	Disposed	72961.2994	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-12-31	Restricted Stock	$	M	12500.0000	Disposed		Common Stock (12500.0000)	Direct
2016-12-31	Restricted Stock Units	$	M	4222.0000	Disposed		Common Stock (4222.0000)	Direct

Footnotes

F1: Restricted stock does not have a conversion price or expiration date.

F2: Restricted stock vests over a multi year period.

F3: Restricted stock units do not have a conversion price or expiration date.

F4: Restricted stock units vest over a multi year period.