BROWN FORMAN CORP — Director's Dealing 2016

May 4, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2016-04-30

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-04-30	Class A Common	F	11566	$103.71	Disposed	79008	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common	0	Direct
Class B Common	20000	Indirect
Class A Common	222	Indirect
Class B Common	33031	Indirect
Class A Common	156182	Indirect
Class B Common	47902	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$46.4	2021-04-30	Class B Common (95761.0)	95761	Direct
Stock Appreciation Right	$58.7	2022-04-30	Class B Common (92514.0)	92514	Direct
Stock Appreciation Right	$72.42	2023-04-30	Class B Common (62332.0)	62332	Direct
Stock Appreciation Right	$91.97	2024-04-30	Class B Common (61023.0)	61023	Direct
Stock Appreciation Right	$102.25	2025-04-30	Class B Common (77125.0)	77125	Direct

Footnotes

F1: To satisfy withholding obligations associated with the July 26, 2012 grant of Class A common stock that vested on April 30, 2016, the reporting person surrendered 11,566 shares of Class A common stock.

F2: The closing prices of BF-A ($103.71) on April 29, 2016 was used to calculate the withholding obligation.

F3: On August 24, 2015, the reporting person transferred 156,182 Class A shares and 47,902 Class B shares to a grantor retained annuity trust.