BROWN FORMAN CORP — Director's Dealing 2015

Jun 3, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BF'B)
CIK: 0000014693
Period of Report: 2015-06-01

Reporting Person: VARGA PAUL C (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-06-01	Class A Common	A	23061.0000	$0.0000	Acquired	246756.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common	67902.0000	Direct
Class A Common	222.0000	Indirect
Class B Common	33031.0000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$46.4000	2021-04-30	Class B Common (95761.0000)	95761.0000	Direct
Stock Appreciation Right	$58.7000	2022-04-30	Class B Common (92514.0000)	92514.0000	Direct
Stock Appreciation Right	$72.4200	2023-04-30	Class B Common (62332.0000)	62332.0000	Direct
Stock Appreciation Right	$91.9700	2024-04-30	Class B Common (61023.0000)	61023.0000	Direct

Footnotes

F1: These shares were issued on June 1, 2015 in connection with a July 26, 2012 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, 2015. The number of shares issued was determined by multiplying the cash value of the award by a three-year performance adjustment factor, dividing that amount by $60.67, which is the adjusted closing price of the issuer's Class A common stock on the date of the grant, and then adjusting upwards to account for dividends paid during the second and third years of the performance period.