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: Cook John D. (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-07-27	Deferred Stock Units	$	A	3539.9924	Acquired		Class A Common (3539.9924)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Deferred Stock Units	$		Class B Common (10565.34)	10565.34	Direct
Stock Appreciation Right	$18.08	2018-04-30	Class B Common (9032.0)	9032	Direct
Stock Appreciation Right	$13.525	2019-04-30	Class B Common (24902.0)	24902	Direct
Stock Appreciation Right	$19.215	2020-04-30	Class B Common (9570.0)	9570	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.

F3: Updated to reflect the August 2016 stock split.

F4: 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 B common stock. On each dividend payment date, participants are credited with DSU equivalents.

F5: Annual grants of DSUs vest over the course of the Board year. DSUs are paid out in class B common stock on the first February 1 that is at least six months following the Director's termination from Board service.

F6: These stock appreciation rights were previously reported as covering 4,516 shares at an exercise price of $36.16, but were adjusted to reflect the August 2016 stock split.

F7: These stock appreciation rights were previously reported as covering 12,451 shares at an exercise price of $27.05, but were adjusted to reflect the August 2016 stock split.

F8: These stock appreciation rights were previously reported as covering 4,785 shares at an exercise price of $38.43, but were adjusted to reflect the August 2016 stock split.