BROWN FORMAN CORP — Director's Dealing 2017

Mar 28, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2017-03-23

Reporting Person: Brown Campbell P (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-09-13	Class B Common	G	1200	—	Disposed	625135	Direct
2017-02-13	Class A Common	G	1150	—	Disposed	1609476	Direct
2017-02-13	Class A Common	G	575	—	Acquired	17159	Indirect
2017-03-23	Class A Common	J	3000000	—	Disposed	963536	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common	1059108	Indirect
Class A Common	142500	Indirect
Class A Common	142500	Indirect
Class B Common	540883	Indirect
Class B Common	15737.1308	Indirect
Class B Common	0	Indirect
Class B Common	36	Indirect
Class B Common	36	Indirect
Class B Common	48435	Indirect
Class B Common	9387.8618	Indirect
Class B Common	2706	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Class B Common (1726.0)	1726	Direct
Restricted Stock Units	$		Class B Common (952.0)	952	Direct
Restricted Stock Units	$		Class B Common (2916.0)	2916	Direct
Stock Appreciation Right	$16.88	2017-04-30	Class B Common (3748.0)	3748	Direct
Stock Appreciation Right	$17.755	2018-04-30	Class B Common (3438.0)	3438	Direct
Stock Appreciation Right	$19.215	2020-04-30	Class B Common (1774.0)	1774	Direct
Stock Appreciation Right	$45.985	2024-04-30	Class B Common (2224.0)	2224	Direct
Stock Appreciation Right	$49.005	2026-04-30	Class B Common (5702.0)	5702	Direct

Footnotes

F1: On August 18, 2016, the Class A and Class B common stock of Brown-Forman Corporation split 2-1, resulting in the reporting person's acquisition of 311,794 additional shares. Total also updated to reflect the acquisition of 2,747 additional shares resulting from the dissolution of CBGB LLC on September 14, 2016, and to correct prior reporting error.

F2: Reflects the acquisition of 805,313 additional shares in the August 2016 stock split.

F3: Reflects the acquisition of 8,042 additional shares in the August 2016 stock split and total corrected as a result of a prior reporting error.

F4: Reflects contribution of shares to a limited liability company.

F5: Reflects the acquisition of 1,981,768 additional shares in the August 2016 stock split.

F6: Reflects the acquisition of 529,554 additional shares in the August 2016 stock split.

F7: Reflects the acquisition of 71,250 additional shares in the August 2016 stock split.

F8: Reflects the acquisition of 270,442 additional shares in the August 2016 stock split.

F9: Total updated to reflect shares acquired in the August 2016 stock split.

F10: Reflects the acquisition of 2,746 additional shares in the August 2016 stock split. Total also updated to reflect the distribution of all shares on September 14, 2016.

F11: Reflects the acquisition of 18 additional shares in the August 2016 stock split.

F12: Reflects the acquisition of 24,218 additional shares in the August 2016 stock split.

F13: Number of shares acquired through the issuer's employee stock purchase program as of March 27, 2017. Total also updated to reflect shares acquired in August 2016 stock split.

F14: Reflects the acquisition of 1,353 additional shares in the August 2016 stock split.

F15: The restricted stock units vest May 1, 2017

F16: Reflects the acquisition of 863 additional restricted stock units in the August 2016 stock split.

F17: The restricted stock units vest May 1, 2018.

F18: Reflects the acquisition of 476 additional restricted stock units in the August 2016 stock split.

F19: The restricted stock units vest May 1, 2019.

F20: Reflects the acquisition of 1,458 additional restricted stock units in the August 2016 stock split.

F21: These SSARs were previously reported as covering 1,874 shares at an exercise price of $33.76.

F22: These SSARs were previously reported as covering 1,719 shares at an exercise price of $35.51.

F23: These SSARs were previously reported as covering 887 shares at an exercise price of $38.43.

F24: These SSARs were previously reported as covering 1,112 shares at an exercise price of $91.97.

F25: These SSARs were previously reported as covering 2,851 shares at an exercise price of $98.01.