BROWN FORMAN CORP — Director's Dealing 2016

Jun 3, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2016-06-01

Reporting Person: Whiting Lawson E (EVP, Chief Brands & Strategy)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-06-01	Class A Common	A	1539	—	Acquired	1540.591	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common	1.6572	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$27.05	2019-04-30	Class B Common (4124.0)	4124	Direct
Stock Appreciation Right	$38.43	2020-04-30	Class B Common (3955.0)	3955	Direct
Stock Appreciation Right	$46.4	2021-04-30	Class B Common (8578.0)	8578	Direct
Stock Appreciation Right	$58.7	2022-04-30	Class B Common (7759.0)	7759	Direct
Stock Appreciation Right	$72.42	2023-04-30	Class B Common (8592.0)	8592	Direct
Stock Appreciation Right	$91.97	2024-04-30	Class B Common (6039.0)	6039	Direct
Stock Appreciation Right	$102.25	2025-04-30	Class B Common (7870.0)	7870	Direct

Footnotes

F1: These shares were issued on June 1, 2016, in connection with a July 25, 2013 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, 2016. The number of shares issued was determined by multiplying the cash value of the award by a three-year performance adjustment factor, dividing the amount by $74.06, which is the closing price of the issuers Class A common stock on the date of the grant, and then adjusting upwards to account for dividends paid during the performance period.

F2: Number of shares acquired through the issuer's dividend reinvestment plan as of June 1, 2016.