BROWN FORMAN CORP — Director's Dealing 2017

Mar 14, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2017-03-10

Reporting Person: McCallum Mark I (EVP/Pres. Jack Daniel's Brands)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-10	Class A Common	S	17872	$47.4709	Disposed	47275	Direct
2017-03-10	Class B Common	S	14750	$46.4872	Disposed	10714	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common	54	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$45.985	2024-04-30	Class B Common (27354.0)	27354	Direct
Stock Appreciation Right	$29.35	2022-04-30	Class B Common (49718.0)	49718	Direct
Stock Appreciation Right	$19.215	2020-04-30	Class B Common (40910.0)	40910	Direct
Stock Appreciation Right	$51.125	2025-04-30	Class B Common (22300.0)	22300	Direct
Stock Appreciation Right	$36.21	2023-04-30	Class B Common (31942.0)	31942	Direct
Stock Appreciation Right	$23.2	2021-04-30	Class B Common (46288.0)	46288	Direct
Stock Appreciation Right	$13.525	2019-04-30	Class B Common (46874.0)	46874	Direct
Stock Appreciation Right	$49.005	2026-04-30	Class B Common (30028.0)	30028	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.16 to $47.92, inclusive. The reporting person undertakes to provide to Brown-Forman Corporation, any security holder of Brown-Forman Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F2: Reflects the acquisition of 32,573.50 additional shares in the August 2016 stock split.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $46.08 to $46.60, inclusive. The reporting person undertakes to provide to Brown-Forman Corporation, any security holder of Brown-Forman Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F4: Reflects the acquisition of 12,732 additional shares in the August 2016 stock split.

F5: Reflects the acquisition of 27 additional shares in the August 2016 stock split.

F6: These stock appreciation rights were previously reported as covering 13,677 shares at an exercise price of $91.97, but were adjusted to reflect the August 2016 stock split.

F7: These stock appreciation rights were previously reported as covering 24,859 shares at an exercise price of $58.70, but were adjusted to reflect the August 2016 stock split.

F8: These stock appreciation rights were previously reported as covering 20,455 shares at an exercise price of $38.43, but were adjusted to reflect the August 2016 stock split.

F9: These stock appreciation rights were previously reported as covering 11,150 shares at an exercise price of $102.25, but were adjusted to reflect the August 2016 stock split.

F10: These stock appreciation rights were previously reported as covering 15,971 shares at an exercise price of $72.42, but were adjusted to reflect the August 2016 stock split.

F11: These stock appreciation rights were previously reported as covering 23,144 shares at an exercise price of $46.40, but were adjusted to reflect the August 2016 stock split.

F12: These stock appreciation rights were previously reported as covering 23,437 shares at an exercise price of $27.05, but were adjusted to reflect the August 2016 stock split.

F13: These stock appreciation rights were previously reported as covering 15,014 shares at an exercise price of $98.01, but were adjusted to reflect the August 2016 stock split.