BROWN FORMAN CORP — Director's Dealing 2017

May 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2017-04-21

Reporting Person: Brown Campbell P (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-04-21	Class B Common	M	3748	$16.88	Acquired	628883	Direct
2017-04-21	Class B Common	F	2246	$46.12	Disposed	626637	Direct
2017-04-30	Class B Common	M	1726	—	Acquired	628363	Direct
2017-04-30	Class B Common	F	614	$47.32	Disposed	627749	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-04-21	Restricted Stock Units	$	M	1726	Disposed		Class B Common (1726.0)	Direct
2017-04-30	Stock Appreciation Right	$16.88	M	3748	Disposed	2017-04-30	Class B Common (3748.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common	540883	Indirect
Class B Common	16185.1191	Indirect
Class B Common	36	Indirect
Class B Common	36	Indirect
Class B Common	48435	Indirect
Class B Common	9431.6522	Indirect

Footnotes

F1: The closing price of BF-B on April 20, 2017 was used to calculate the withholding obligation.

F2: The Restricted Stock Units were granted on July 25, 2013, and vested on April 30, 2017.

F3: The closing price of BF-B on April 28, 2017 was used to calculate the withholding obligation.

F4: Number of shares acquired through the issuer's 401(k) plan as of May 2, 2017.

F5: Number of shares acquired through the issuer's employee stock purchase program as of May 2, 2017.

F6: Each restricted stock unit represents a contingent right to recive one share of Brown-Forman Class B common stock.