BROWN FORMAN CORP - Director's Dealing 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2016-03-04

Reporting Person: MORREAU JANE C (EVP, Chief Financial Officer)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-04	Class B Common	M	8400	$34.95	Acquired	8452.50	Direct
2016-03-04	Class B Common	M	9292	$33.76	Acquired	17744.50	Direct
2016-03-04	Class B Common	S	7208	$95	Disposed	10536.50	Direct
2016-03-04	Class B Common	F	10484	$96.86	Disposed	52.50	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-03-04	Stock Appreciation Right	$34.95	M	8400	Disposed	2016-04-30	Class B Common (8400.0)	Direct
2016-03-04	Stock Appreciation Right	$33.76	M	9292	Disposed	2017-04-30	Class B Common (9292.0)	Direct

Security	Shares	Ownership
Class A Common	10505.8396	Direct
Class B Common	2872.8648	Indirect

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$102.25	2025-04-30	Class B Common (13379.0)	13379	Direct
Stock Appreciation Right	$35.51	2018-04-30	Class B Common (7131.0)	7131	Direct
Stock Appreciation Right	$27.05	2019-04-30	Class B Common (11463.0)	11463	Direct
Stock Appreciation Right	$38.43	2020-04-30	Class B Common (12590.0)	12590	Direct
Stock Appreciation Right	$46.4	2021-04-30	Class B Common (14365.0)	14365	Direct
Stock Appreciation Right	$58.7	2022-04-30	Class B Common (11098.0)	11098	Direct
Stock Appreciation Right	$72.42	2023-04-30	Class B Common (9266.0)	9266	Direct
Stock Appreciation Right	$91.97	2024-04-30	Class B Common (13425.0)	13425	Direct

F1: The closing price of BF-B on March 3, 2016 was used to calculate the withholding obligation.

F2: Total updated as of March 7, 2016 to reflect dividend reinvestment.

F3: Number of shares acquired through the issuer's employee stock purchase program as of March 3, 2016.