BROWN FORMAN CORP — Director's Dealing 2017

Mar 22, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2017-03-17

Reporting Person: Holland Augusta Brown (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-12	Class B Common	G	157000	—	Disposed	24546	Indirect
2017-03-17	Class B Common	G	212850	—	Disposed	22270	Indirect
2017-03-17	Class B Common	J	2150	—	Disposed	23640	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common	12907116	Indirect
Class B Common	20007	Indirect
Class B Common	148235	Direct
Class A Common	1032701	Direct
Class A Common	482284	Indirect
Class B Common	107476	Indirect
Class A Common	84308	Indirect
Class A Common	5033	Indirect
Class B Common	4712	Indirect
Class A Common	4580	Indirect
Class A Common	62984	Indirect
Class B Common	41610	Indirect
Class A Common	41374	Indirect
Class B Common	22668	Indirect
Class A Common	43456	Indirect
Class B Common	24488	Indirect
Class A Common	43456	Indirect
Class B Common	24488	Indirect
Class A Common	36	Indirect
Class B Common	1092	Indirect
Class A Common	633674	Indirect
Class B Common	430568	Indirect
Class B Common	1930	Indirect
Class B Common	404678	Indirect
Class A Common	1770	Indirect
Class A Common	24	Indirect
Class B Common	102896	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Deferred Stock Units	$		Class A Common (3381.661)	3381.661	Direct
Deferred Stock Units	$		Class A Common (1183.28)	1183.28	Direct

Footnotes

F1: Total has been updated to reflect pro rata distribution of Class B shares made by Olympus Three, LLC on January 12, 2017.

F2: Total has been updated to reflect pro rata distribution of Class B shares made by Olympus Three, LLC on March 17, 2017.

F3: On March 17, 2017, the Eleanor Lee Trusts contributed 2,150 Class B shares in exchange for an interest in a limited liability company.

F4: Total has been updated to reflect pro rata distributions of Class B shares made by Olympus Three, LLC on January 12, 2017 and March 17, 2017.

F5: Under the Brown-Forman Corporation Non-Employee Director Deferred Stock Unit Program, each DSU represents the right to receive one share of the Company's Class A common stock. Grants made on July 28, 2016, were based on the closing price of the Company's Class A common stock on that date. On each dividend payment date, participants are credited with DSU equivalents.

F6: Annual grants of DSUs vest over the course of the Board year. DSUs are paid out in Class A common stock on the first February 1 that is at least six months following the Director's termination from Board service.

F7: Under the Brown-Forman Non-Employee Director Deferred Stock Unit Program each DSU represents the right to receive one share of the Company's Class A common stock. Grants made on July 23, 2015, were based on the closing price of the Company's Class A common stock on that date. On each dividend payment date, participants are credited with DSU equivalents.