BROWN FORMAN CORP — Director's Dealing 2015

May 19, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BF'B)
CIK: 0000014693
Period of Report: 2015-05-18

Reporting Person: Steiner Lisa P (Chief of Staff)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-18	Class B Common	M	8880.0000	$58.7000	Acquired	9803.0000	Direct
2015-05-18	Class B Common	F	6692.0000	$95.0500	Disposed	3111.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-18	Stock Appreciation Right	$58.7000	M	8880.0000	Disposed	2022-04-30	Class B Common (8880.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common	5210.0000	Direct
Class A Common	671.5337	Indirect
Class B Common	121.1813	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$72.4200	2023-04-30	Class B Common (6739.0000)	6739.0000	Direct
Stock Appreciation Right	$91.9700	2024-04-30	Class B Common (5467.0000)	5467.0000	Direct

Footnotes

F1: The closing price of BF-B ($95.05) on May 15, 2015 was used to calculate the withholding obligation.

F2: Number of shares acquired through the issuer's dividend reinvestment plan as of May 14, 2015.