BROWN FORMAN CORP — Director's Dealing 2016

Nov 2, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2016-10-31

Reporting Person: Hamel Matthew E (EVP, Gen Counsel and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-10-31	Class B Common	M	7600	$16.825	Acquired	13702	Direct
2016-10-31	Class B Common	F	5197	$46.03	Disposed	8505	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-10-31	Stock Appreciation Right	$16.825	M	7600	Disposed	2017-04-30	Class B Common (7600.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common	22482	Direct
Class A Common	0.1378	Indirect
Class B Common	65.2227	Indirect
Class B Common	10847.2805	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$17.755	2018-04-30	Class B Common (29294.0)	29294	Direct
Stock Appreciation Right	$13.525	2019-04-30	Class B Common (59996.0)	59996	Direct
Stock Appreciation Right	$19.215	2020-04-30	Class B Common (50354.0)	50354	Direct
Stock Appreciation Right	$23.2	2021-04-30	Class B Common (47884.0)	47884	Direct
Stock Appreciation Right	$29.35	2022-04-30	Class B Common (44390.0)	44390	Direct
Stock Appreciation Right	$36.21	2023-04-30	Class B Common (33694.0)	33694	Direct
Stock Appreciation Right	$45.985	2024-04-30	Class B Common (26444.0)	26444	Direct
Stock Appreciation Right	$51.125	2025-04-30	Class B Common (30168.0)	30168	Direct
Stock Appreciation Right	$49.005	2026-04-30	Class B Common (44344.0)	44344	Direct

Footnotes

F1: On August 18, 2016, the Class A and Class B common stock of Brown-Forman Corporation split 2-1, resulting in the reporting person's acquisition of 2,983 additonal shares. Total also updated to correct prior reporting error.

F2: The closing price of BF-B on October 28, 2016 was used to calculate the withholding obligation.

F3: Reflects the acquisition of 10,633 additional shares in the August 2016 stock split and the transfer of 1,216 shares on August 23, 2016, from dividend reinvestment holdings to direct holdings.

F4: Number of shares acquired through the issuer's dividend reinvestment plan as of October 6, 2016, including additional shares issued in the August 2016 stock split. Also updated to reflect the transfer of 1,216 shares on August 23, 2016, from dividend reinvestment holdings to direct holdings.

F5: Number of shares acquired through the issuer's employee stock purchase program as of October 17, 2016, including additional shares issued in the August 2016 stock split. Total also updated to correct prior reporting error.

F6: Number of shares acquired through the issuer's 401(k) plan as of October 31, 2016, including additional shares issued in the August 2016 stock split.

F7: These stock appreciation rights were previously reported as covering 11,359 shares at an exercise price of $33.65, but were adjusted to reflect the August 2016 stock split.

F8: These stock appreciation rights were previously reported as covering 14,647 shares at an exercise price of $35.51, but were adjusted to reflect the August 2016 stock split.

F9: These stock appreciation rights were previously reported as covering 29,998 shares at an exercise price of $27.05, but were adjusted to reflect the August 2016 stock split.

F10: These stock appreciation rights were previously reported as covering 25,177 shares at an exercise price of $38.43, but were adjusted to reflect the August 2016 stock split.

F11: These stock appreciation rights were previously reported as covering 23,942 shares at an exercise price of $46.40, but were adjusted to reflect the August 2016 stock split.

F12: These stock appreciation rights were previously reported as covering 22,195 shares at an exercise price of $58.70, but were adjusted to reflect the August 2016 stock split.

F13: These stock appreciation rights were previously reported as covering 16,847 shares at an exercise price of $72.42, but were adjusted to reflect the August 2016 stock split.

F14: These stock appreciation rights were previously reported as covering 13,222 shares at an exercise price of $91.97, but were adjusted to reflect the August 2016 stock split.

F15: These stock appreciation rights were previously reported as covering 15,084 shares at an exercise price of $102.25, but were adjusted to reflect the August 2016 stock split.

F16: These stock appreciation rights were previously reported as covering 22,172 shares at an exercise price of $98.01, but were adjusted to reflect the August 2016 stock split.