Churchill Downs

Churchill Downs

CHDN· Services· Market cap · Fiscal year ends in December

CEO pay in FY2025Stock -14.8% in FY2025

William C. Carstanjen is the CEO of Churchill Downs and was paid $19.2M in FY2025 (Dec), up 27%.

Pay$100 in the stock at the end of FY20 → $118
CEO pay is from each Churchill Downs proxy. The stock line is the value of $100 put in the stock at the start, from the price change of each fiscal year. Dividends are not in it.

Executives5

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  1. 1William C. CarstanjenFY2025
  2. 2William E. MuddFY2025
  3. 3Marcia DallFY2025
  4. 4Bradley K. BlackwellFY2025
  5. 5Maureen AdamsFY2025

Named executives and their total pay, from the Summary Compensation Table of the latest proxy.

Pay

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Churchill Downs paid its 5 named executives $36.2M in total in FY2025 (Dec). CEO William C. Carstanjen was paid $19.2M of that.

Name
William C. CarstanjenChief Executive Officer
William E. MuddPresident and Chief Operating Officer
Marcia DallExecutive Vice President and Chief Financial Officer
Bradley K. BlackwellExecutive Vice President and General Counsel
Maureen AdamsFormer Executive Vice President, Gaming Operations

of each named executive, from the Summary Compensation Table of each proxy.

Peers11

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The FY2025 (Dec) proxy of Churchill Downs names 11 peer companies for pay. Among Churchill Downs and these peers, CEO pay was 4th highest of 7 and total shareholder return was 3rd highest of 6.

4th highest of 7in Churchill Downs and its pay peers, FY2025 (Dec) by CEO pay:

$14.7M$25.3M

3rd highest of 6in Churchill Downs and its pay peers, FY2025 (Dec) by total shareholder return:

$31$207

The comes from the company's proxy. CEO pay and of each company come from its own Pay versus Performance table for the same fiscal year.

Board2

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  • R. Alex RankinChair · 17 yr on the boardIndependentAudit, Compensation, Executive (Chair), Nominating and Governance—Paid as an executive
  • Daniel P. HarringtonDirector · 27 yr on the boardIndependentAudit, Compensation (Chair), Executive—Paid as an executive

The board of the latest proxy (FY2025).

Activity

  1. Pay
    Churchill Downs COO pay rose 12% to $7.2M. The stock fell 15% in FY2025 (Dec).
    DEF 14A
  2. Pay
    Churchill Downs CEO pay rose 27% to $19.2M. The stock fell 15% in FY2025 (Dec).
    DEF 14A
  3. Pay
    Churchill Downs Division head pay fell 28% to $1.9M. The stock fell 15% in FY2025 (Dec).
    DEF 14A
  4. Pay
    Churchill Downs General counsel pay rose 16% to $3.4M. The stock fell 15% in FY2025 (Dec).
    DEF 14A
  5. Pay
    Churchill Downs COO pay fell 12% to $6.2M. The stock fell 12% in FY2022 (Dec).
    DEF 14A
  6. Pay
    Churchill Downs CEO pay rose 24% to $15.1M. The stock fell 1% in FY2024 (Dec).
    DEF 14A
  7. Pay
    Churchill Downs CEO pay fell 12% to $12.1M. The stock fell 12% in FY2022 (Dec).
    DEF 14A
  8. Pay
    Churchill Downs CFO pay rose 20% to $4.5M. The stock fell 12% in FY2022 (Dec).
    DEF 14A

Filings6

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Proxy statementDEF 14AMar 12, 2026FY2025
Annual report10-KFeb 25, 2026FY2025
Proxy statementDEF 14AMar 13, 2025FY2024
Annual report10-KFeb 20, 2025FY2024
Proxy statementDEF 14AMar 14, 2024FY2023
Annual report10-KFeb 21, 2024FY2023
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