BROWN FORMAN CORP — Director's Dealing 2016

Aug 1, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2016-07-28

Reporting Person: Brown George Garvin IV (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-07-28	Deferred Stock Units	$	A	2972.2275	Acquired		Class A Common (2972.2275)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common	57837	Direct
Class B Common	275850	Direct
Class A Common	496	Indirect
Class A Common	529554	Indirect
Class A Common	104457	Indirect
Class A Common	11620	Indirect
Class A Common	2580235.50	Indirect
Class A Common	7471	Indirect
Class A Common	47625	Indirect
Class A Common	10190	Indirect
Class A Common	7346	Indirect
Class B Common	2973	Indirect
Class B Common	17418	Indirect
Class B Common	78300	Indirect
Class B Common	3095	Indirect
Class B Common	12979.8325	Indirect
Class B Common	255168	Indirect
Class B Common	2746	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Class B Common (3936.0)	3936	Direct
Restricted Stock Units	$		Class B Common (3426.0)	3426	Direct
Restricted Stock Units	$		Class B Common (380.0)	380	Direct
Stock Appreciation Right	$33.76	2017-04-30	Class B Common (1679.0)	1679	Direct
Stock Appreciation Right	$35.51	2018-04-30	Class B Common (1542.0)	1542	Direct
Stock Appreciation Right	$27.05	2019-04-30	Class B Common (4714.0)	4714	Direct

Footnotes

F1: Number of shares acquired through the issuer's 401(k) plan as of July 27, 2016.

F2: Under the Brown-Forman Corporation Non-Employee Director Deferred Stock Unit Program, each DSU represents the right to receive one share of the Company's Class A common stock. Grants made on July 28, 2016, were based on the closing price of the Company's Class A common stock on that date ($105.14). On each dividend payment date, participants are credited with DSU equivalents, and the DSU total on this form has been updated to reflect such credits.

F3: Annual grants of DSUs vest over the course of the Board year. DSUs are paid out in Class A common stock on the first February 1 that is at least six months following the director's termination from Board service.

F4: Each restricted stock unit represents a contingent right to receive one share of Brown-Forman Class B common stock.

F5: The restricted stock units were granted on July 25, 2013, and vest April 30, 2017.

F6: The restricted stock units were granted on July 24, 2014, and vest April 30, 2018.

F7: The restricted stock units were granted on July 23, 2015, and vest on April 30, 2019.