Ulysses L Bridgeman, a director of Churchill Downs, just received 80 restricted shares from the company. The restricted shares don't become available to Bridgeman until such time as they become vested. Bridgeman now owns at least 1,010 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 uon 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 entitlin
g the recipient 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.
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