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: Hamel Matthew E (EVP, Gen Counsel and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-07-31	Class B Common	M	7323	$17.755	Acquired	24256	Direct
2017-07-31	Class B Common	F	4969	$50.03	Disposed	19287	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-07-27	Stock Appreciation Right	$50.63	A	37406	Acquired	2027-04-30	Class B Common (37406.0)	Direct
2017-07-31	Stock Appreciation Right	$17.755	M	7323	Disposed	2018-04-30	Class B Common (7323.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common	11756.1042	Indirect
Class B Common	845.8134	Indirect

Footnotes

F1: The closing price of BF-B on July 31, 2017 was used to calculate the withholding obligation.

F2: Number of shares acquired through the issuer's 401(k) plan as of July 31, 2017.

F3: Number of shares acquired through the issuer's employee stock purchase program as of July 31, 2017.

F4: No money was paid to or received by the reporting person for these SSARs.