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: 2017-04-28

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-04-28	Class B Common	M	7559	$16.825	Acquired	19050	Direct
2017-04-28	Class B Common	F	4440	$46.78	Disposed	14610	Direct
2017-04-30	Class A Common	F	1073	$48.06	Disposed	21409	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-04-28	Stock Appreciation Right	$16.825	M	7559	Disposed	2017-04-30	Class B Common (7559.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common	11280.4736	Indirect
Class B Common	658.3169	Indirect
Class A Common	0.1391	Indirect

Footnotes

F1: The closing price of BF-B on April 27, 2017 was used to calculate the withholding obligation.

F2: To satisfy withholding obligations associated with the July 25, 2013 award of Class A common stock that vested on April 30, 2017, the reporting person surrendered 1,073 shares of Class A common stock.

F3: The closing price of BF-A ($48.06) 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 April 27, 2017.

F5: Number of shares acquired through the issuer's employee stock purchase program as of April 26, 2017.

F6: Number of shares acquired through the issuer's dividend reinvestment plan as of April 26, 2017.