BROWN FORMAN CORP — Director's Dealing 2017

Aug 1, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2017-07-27

Reporting Person: Gutmann Kathleen M. (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-07-27	Deferred Stock Units	$	A	2616.5327	Acquired		Class A Common (2616.5327)	Direct

Footnotes

F1: Under the Brown-Forman Corporation Non-Employee Director Deferred Stock Unit Program, each DSU represents the right to receive one share of the Company's Class A common stock. Grants made on July 27, 2017, were based on the closing price of the Company's Class A common stock on that date ($52.26). On each dividend payment date, participants are credited with DSU equivalents, and the DSU total on this form has been updated to reflect such credits.

F2: Annual grants of DSUs vest over the course of the Board year. DSUs are paid out in Class A common stock on the first February 1 that is at least six months following the director's termination from Board service.