BROWN FORMAN CORP — Director's Dealing 2017

Jan 18, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2017-01-13

Reporting Person: Steiner Lisa P (SVP, Chief of Staff)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-13	Class B Common	M	13478	$44.17	Acquired	22462	Direct
2017-01-13	Class B Common	F	12042	$44.17	Disposed	10462	Direct
2017-01-13	Class B Common	S	1436	$43.875	Disposed	8984	Direct
2017-01-13	Class B Common	S	8502	$43.9197	Disposed	482	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-13	Stock Appreciation Right	$36.21	M	13478	Disposed	2023-04-30	Class B Common (13478.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common	16900	Direct
Class B Common	259.5696	Indirect
Class A Common	1563.6168	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$49.005	2026-04-30	Class B Common (15014.0)	15014	Direct
Stock Appreciation Right	$51.125	2025-04-30	Class B Common (11282.0)	11282	Direct
Stock Appreciation Right	$45.985	2024-04-30	Class B Common (10934.0)	10934	Direct

Footnotes

F1: Total updated to correct prior reporting error.

F2: The closing price of BF-B on January 12, 2017 was used to calculate the withholding obligation.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $43.871 to $43.88, 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: Number of shares acquired through the issuer's dividend reinvestment plan as of January 17, 2017.