Robert L Fealy, a director of Churchill Downs, just received 164 restricted shares from the company. The restricted shares don't become available to Fealy until such time as they become vested. Fealy now owns at least 9,817 restricted shares of the company.
Some additional info was provided as follows:
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 upon the reporting person's completion of service as a director.
The closing price of CHDN common stock on September 30, 2016 was used to determine the number of phantom shares awarded.
Deferred compensation in the form of restricted units entitling the recip
ient to the future issuance of an equivalent number of shares of Common Stock.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
To receive a free e-mail notification whenever Churchill Downs makes a similar move, sign up!