BROWN FORMAN CORP — Director's Dealing 2016

Apr 15, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2016-04-14

Reporting Person: Brown Martin S JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-04-14	Class B Common	M	4819	$34.95	Acquired	5177	Direct
2016-04-14	Class B Common	F	1773	$95.04	Disposed	3404	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-04-14	Stock Appreciation Right	$34.95	M	4819	Disposed	2016-04-30	Class B Common (4819.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common	259473	Direct
Class B Common	42556	Indirect
Class A Common	45	Indirect
Class B Common	10	Indirect
Class B Common	25146	Indirect
Class A Common	2250	Indirect
Class B Common	562	Indirect
Class A Common	8262	Indirect
Class B Common	3753	Indirect
Class A Common	2523	Indirect
Class B Common	1192	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Deferred Stock Units	$		Class B Common (1691.08)	1691.08	Direct
Stock Appreciation Right	$27.05	2019-04-30	Class B Common (6752.0)	6752	Direct
Stock Appreciation Right	$35.51	2018-04-30	Class B Common (5495.0)	5495	Direct
Stock Appreciation Right	$33.7659	2017-04-30	Class B Common (5987.0)	5987	Direct

Footnotes

F1: The closing price of BF-B ($95.04) on April 13, 2016 was used to calculate the withholding obligation.

F2: Each deferred stock unit represents a contingent right to receive one share of Brown-Forman Class B common stock.

F3: The deferred stock units vest over the course of the Board year. Vested shares will be delivered to the reporting person on the first February 1st that is at least 6 months following the Director's termination from Board service.