BROWN FORMAN CORP — Director's Dealing 2014

Sep 3, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BF'B)
CIK: 0000014693
Period of Report: 2014-08-29

Reporting Person: Brown Martin S JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-08-29	Class B Common	M	761.0000	$36.4000	Acquired	761.0000	Direct
2014-08-29	Class B Common	F	303.0000	$91.5200	Disposed	458.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-08-29	Stock Appreciation Right	$36.4000	M	761.0000	Disposed	2015-04-30	Class B Common (761.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common	259473.0000	Direct
Class B Common	42556.0000	Indirect
Class A Common	45.0000	Indirect
Class B Common	10.0000	Indirect
Class B Common	25146.0000	Indirect
Class A Common	2250.0000	Indirect
Class B Common	562.0000	Indirect
Class A Common	8262.0000	Indirect
Class B Common	3753.0000	Indirect
Class A Common	2523.0000	Indirect
Class B Common	1192.0000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Deferred Stock Units	$		Class B Common (1691.0800)	1691.0800	Direct
Stock Appreciation Right	$27.0500	2019-04-30	Class B Common (6752.0000)	6752.0000	Direct
Stock Appreciation Right	$35.5100	2018-04-30	Class B Common (5495.0000)	5495.0000	Direct
Stock Appreciation Right	$33.7659	2017-04-30	Class B Common (5987.0000)	5987.0000	Direct
Stock Appreciation Right	$34.9500	2016-04-30	Class B Common (4819.0000)	4819.0000	Direct

Footnotes

F1: The closing price of BF-B ($91.52) on August 28, 2014 was used to calculate the tax withholding obligation.

F2: Each deferred stock unit represents a contingent right to receive one share of Brown-Forman Class B common stock.

F3: The deferred stock units vest over the course of the Board year. Vested shares will be delivered to the reporting person on the first February 1st that is at least 6 months following the Director's termination from Board service.