Churchill Downs Inc 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Issuer Purchases of Common Stock The following table provides information with respect to shares of common stock that we repurchased during the quarter ended March 31, 2025: Period Total Number of Shares Purchased (1)(2) Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1) Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (in millions) (1) January 2025 478 $ 132.91 — $ 149.6 February 2025 147,385 119.78 68,888 141.6 March 2025 729,435 111.61 729,362 434.6 Total 877,298 $ 112.99 798,250 (1) On March 12, 2025, the Board of Directors of the Company approved a common stock repurchase program of up to $500.0 million (the "2025 Stock Repurchase Program"). The 2025 Stock Repurchase Program includes and is not in addition to the $125.6 million remaining under the prior 2021 Stock Repurchase Program authorization. For the three months ended March 31, 2025, we purchased 212,012 shares of our common stock under the 2021 Stock Repurchase Program at the aggregate purchase price of $24.0 million based on trade date, and we purchased 586,238 shares of our common stock under the 2025 Stock Repurchase Program at the aggregate purchase price of $65.4 million based on trade date. Share repurchases may be made at management's discretion from time to time in the open market (either with or without a 10b5-1 plan) or through privately negotiated transactions. The repurchase program has no time limit and may be suspended or discontinued at any time. (2) Includes shares withheld to pay taxes on the vesting of restricted stock and restricted stock units or to pay taxes on the exercise of stock options granted to employees. ITEM 3. DEFAULTS UPON SENIOR SECURITIES Not applicable. ITEM 4. MINE SAFETY DISCLOSURES Not applicable.