BROWN FORMAN CORP — Director's Dealing 2013

Jun 4, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BF'B)
CIK: 0000014693
Period of Report: 2013-06-01

Reporting Person: WELCH JAMES S JR (Director, Vice Chairman Strategy and HR)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-06-01	Class A Common	A	5452.0000	$0.0000	Acquired	32858.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common	16147.0000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$28.5800	2015-04-30	Class B Common (23515.0000)	23515.0000	Direct
Stock Appreciation Right	$34.9500	2016-04-30	Class B Common (13492.0000)	13492.0000	Direct
Stock Appreciation Right	$33.7600	2017-04-30	Class B Common (23938.0000)	23938.0000	Direct
Stock Appreciation Right	$35.5100	2018-04-30	Class B Common (21971.0000)	21971.0000	Direct
Stock Appreciation Right	$43.1000	2019-04-30	Class B Common (31498.0000)	31498.0000	Direct
Stock Appreciation Right	$38.4300	2020-04-30	Class B Common (31470.0000)	31470.0000	Direct
Stock Appreciation Right	$46.4000	2021-04-30	Class B Common (22345.0000)	22345.0000	Direct
Stock Appreciation Right	$58.7000	2022-04-30	Class B Common (20186.0000)	20186.0000	Direct

Footnotes

F1: These shares were issued on June 1, 2013 in connection with a July 22, 2010 award of Class A Common Performance-Based Restricted Stock. The award - initially determined as a cash value - was subject to a three-year performance period, which ended April 30, 2013. The number of shares issued was determined by multiplying the cash value of the award by a three-year performance adjustment factor, adjusting upwards to account for dividends paid during the second and third years of the performance period, and then dividing that amount by $41.96, which is the closing price of the issuer's Class A common stock on the date of the grant.