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BROWN FORMAN CORP Director's Dealing 2017

May 2, 2017

30482_dirs_2017-05-01_e6373f2e-3bb4-42ba-a454-b8093f01dd43.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2017-04-27

Reporting Person: Fitzgerald Brian P (SVP, Chief Accounting Officer)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2017-04-27 Class B Common M 5274 $16.88 Acquired 6662 Direct
2017-04-27 Class B Common F 3128 $46.76 Disposed 3534 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2017-04-27 Stock Appreciation Right $16.88 M 5274 Disposed 2017-04-30 Class B Common (5274.0) Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Stock Appreciation Right $17.755 2018-04-30 Class B Common (4844.0) 4844 Direct
Stock Appreciation Right $13.525 2019-04-30 Class B Common (9456.0) 9456 Direct
Stock Appreciation Right $19.215 2020-04-30 Class B Common (7938.0) 7938 Direct
Stock Appreciation Right $23.2 2021-04-30 Class B Common (7478.0) 7478 Direct
Stock Appreciation Right $29.35 2022-04-30 Class B Common (6948.0) 6948 Direct
Stock Appreciation Right $36.21 2023-04-30 Class B Common (11524.0) 11524 Direct
Stock Appreciation Right $45.985 2024-04-30 Class B Common (8892.0) 8892 Direct
Stock Appreciation Right $51.125 2025-04-30 Class B Common (10428.0) 10428 Direct
Stock Appreciation Right $49.005 2026-04-30 Class B Common (14256.0) 14256 Direct

Footnotes

F1: In August 2016, the Class A and Class B common stock of Brown-Forman Corporation split 2-1, resulting in the reporting person's acquisition of 694 additional shares.

F2: The closing price of BF-B on April 26, 2017 was used to calculate the withholding obligation.

F3: These stock appreciation rights were previously reported as covering 2,637 shares at an exercise price of $33.76, but were adjusted to reflect the August 2016 stock split.

F4: These stock appreciation rights were previously reported as covering 2,422 shares at an exercise price of $35.51, but were adjusted to reflect the August 2016 stock split.

F5: These stock appreciation rights were previously reported as covering 4,728 shares at an exercise price of $27.05, but were adjusted to reflect the August 2016 stock split.

F6: These stock appreciation rights were previously reported as covering 3,969 shares at an exercise price of $38.43, but were adjusted to reflect the August 2016 stock split.

F7: These stock appreciation rights were previously reported as covering 3,739 shares at an exercise price of $46.40, but were adjusted to reflect the August 2016 stock split.

F8: These stock appreciation rights were previously reported as covering 3,474 shares at an exercise price of $58.70, but were adjusted to reflect the August 2016 stock split.

F9: These stock appreciation rights were previously reported as covering 5,762 shares at an exercise price of $72.42, but were adjusted to reflect the August 2016 stock split.

F10: These stock appreciation rights were previously reported as covering 4,446 shares at an exercise price of $91.97, but were adjusted to reflect the August 2016 stock split.

F11: These stock appreciation rights were previously reported as covering 5,214 shares at an exercise price of $102.25, but were adjusted to reflect the August 2016 stock split.

F12: These stock appreciation rights were previously reported as covering 7,128 shares at an exercise price of $98.01, but were adjusted to reflect the August 2016 stock split.