William Carstanjen compensation by year
Churchill Downs Summary Compensation Table · all 10 fiscal years held| Component | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Salary | $1,000,000 | $1,023,077 | $1,276,154 | $1,350,000 | $1,359,952 | $1,500,000 | $1,500,000 | $1,626,923 | $1,776,923 | $1,800,000 |
| Bonus | $0 | $0 | $0 | $0 | $0 | $0 | — | — | $0 | $0 |
| Stock awards | $3,112,923 | $4,157,013 | $16,827,946 | $6,082,661 | $7,057,084 | $6,986,731 | $6,538,424 | $7,051,043 | $6,585,361 | $11,443,380 |
| Option awards | $0 | $0 | $0 | $0 | $0 | $0 | — | — | $0 | $0 |
| Non-equity incentive | $1,330,000 | $2,250,000 | $3,000,000 | $3,151,779 | $2,056,389 | $5,250,000 | $4,035,025 | $3,511,979 | $6,714,460 | $5,763,331 |
| Pension and deferred compensation | $0 | $0 | $0 | $0 | $0 | $0 | — | — | $0 | $0 |
| All other | $14,338 | $17,102 | $16,269 | $16,854 | $17,714 | $18,552 | $19,664 | $21,689 | $26,919 | $166,128 |
| Total | $5,457,261 | $7,447,192 | $21,120,369 | $10,601,294 | $10,491,139 | $13,755,283 | $12,093,113 | $12,211,634 | $15,103,663 | $19,172,839 |
Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: Churchill Downs Inc DEF 14A filed March 12, 2026, accession 0001193125-26-104118, and prior-year filings.
How this page was built: the Churchill Downs Inc filed document, accession 0001193125-26-104118. Every figure is read from that document and cited to the page and table it appears in. Filed March 12, 2026.
Equity holdings
unvested awards at FY2025 year-end| Type | Unvested units | Value at year-end | Exercise price |
|---|---|---|---|
| RSU | 224,182 | $22,716,539 | — |
| PSU | 76,317 | $8,683,348 | — |
| RSU | 41,665 | $4,740,644 | — |
Per the Outstanding Equity Awards at Fiscal Year-End table in Churchill Downs Inc's FY2025 proxy; value at the fiscal year-end close, as the company printed it.
Churchill Downs’s named executive officers, FY2025
as the company reported each| Named executive officer | Role | FY2025 total |
|---|---|---|
| William Carstanjen · this page | Chief Executive Officer | $19,172,839 |
| William Mudd | President and Chief Operating Officer | $7,209,486 |
| Marcia Dall | Executive Vice President and Chief Financial Officer | $4,552,302 |
| Bradley Blackwell | Executive Vice President and General Counsel | $3,406,364 |
| Maureen Adams | Former Executive Vice President, Gaming Operations | $1,857,382 |
Board service
Churchill Downs board · FY2021–FY2025How this board is paid
Company policy: Churchill Downs pays directors a $105,000 cash retainer and $205,000 in RSUs. As stated in Churchill Downs's FY2025 proxy.
The full Churchill Downs compensation record
free company briefThis page is one person within Churchill Downs's record. The company brief lists every named executive, each linking to their own page.
Peer companies
named in the Churchill Downs proxy · each links to its own free briefCompensation, the day it’s disclosed
The CompBrief Daily Digest lists the newest executive and director compensation disclosures as companies file them. Or order Churchill Downs's full Executive Compensation Report with peer benchmarking.
How this record is built
Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are Churchill Downs's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.