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: WELCH JAMES S JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-06-01	Class A Common	A	3523	—	Acquired	46027	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common	25002	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$33.76	2017-04-30	Class B Common (23938.0)	23938	Direct
Stock Appreciation Right	$35.51	2018-04-30	Class B Common (21971.0)	21971	Direct
Stock Appreciation Right	$27.05	2019-04-30	Class B Common (31498.0)	31498	Direct
Stock Appreciation Right	$38.43	2020-04-30	Class B Common (31470.0)	31470	Direct
Stock Appreciation Right	$46.4	2021-04-30	Class B Common (22345.0)	22345	Direct
Stock Appreciation Right	$58.7	2022-04-30	Class B Common (20186.0)	20186	Direct
Stock Appreciation Right	$72.42	2023-04-30	Class B Common (14758.0)	14758	Direct
Stock Appreciation Right	$91.97	2024-04-30	Class B Common (13349.0)	13349	Direct
Stock Appreciation Right	$102.25	2025-04-30	Class B Common (6887.0)	6887	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: Updated to correct exercise price.