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BROWN FORMAN CORP Director's Dealing 2018

May 3, 2018

30482_dirs_2018-05-02_787aee44-1c10-48bc-95f5-0891b232c338.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: 2018-04-30

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

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2018-04-30 Class B Common M 6169 $13.942 Acquired 10586 Direct
2018-04-30 Class B Common F 3064 $56.04 Disposed 7522 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2018-04-30 Stock Appreciation Right $13.942 M 6169 Disposed 2018-04-30 Class B Common (6169.0) Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Stock Appreciation Right $10.62 2019-04-30 Class B Common (12043.0) 12043 Direct
Stock Appreciation Right $15.088 2020-04-30 Class B Common (10110.0) 10110 Direct
Stock Appreciation Right $18.217 2021-04-30 Class B Common (9524.0) 9524 Direct
Stock Appreciation Right $23.047 2022-04-30 Class B Common (8849.0) 8849 Direct
Stock Appreciation Right $28.433 2023-04-30 Class B Common (14676.0) 14676 Direct
Stock Appreciation Right $36.109 2024-04-30 Class B Common (11324.0) 11324 Direct
Stock Appreciation Right $40.145 2025-04-30 Class B Common (13280.0) 13280 Direct
Stock Appreciation Right $38.481 2026-04-30 Class B Common (18155.0) 18155 Direct
Stock Appreciation Right $39.757 2027-04-30 Class B Common (18376.0) 18376 Direct

Footnotes

F1: On February 28, 2018, the issuer completed a stock split resulting in the distribution of one share of Class B common stock for every four shares of either Class A or Class B common stock held. On April 23, 2018, the issuer paid a special cash dividend. Total has been updated to reflect the acquisition of 883 additional shares in the February 2018 stock split.

F2: The closing price of BF-B on April 27, 2018 was used to calculate the withholding obligation.

F3: These stock appreciation rights were previously reported as covering 4,844 shares at an exercise price of $17.755, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.

F4: These stock appreciation rights were previously reported as covering 9,456 shares at an exercise price of $13.525, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.

F5: These stock appreciation rights were previously reported as covering 7,938 shares at an exercise price of $19.215, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.

F6: These stock appreciation rights were previously reported as covering 7,478 shares at an exercise price of $23.20, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.

F7: These stock appreciation rights were previously reported as covering 6,948 shares at an exercise price of $29.35, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.

F8: These stock appreciation rights were previously reported as covering 11,524 shares at an exercise price of $36.21, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.

F9: These stock appreciation rights were previously reported as covering 8,892 shares at an exercise price of $45.985, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.

F10: These stock appreciation rights were previously reported as covering 10,428 shares at an exercise price of $51.125, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.

F11: These stock appreciation rights were previously reported as covering 14,256 shares at an exercise price of $49.005, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.

F12: These stock appreciation rights were previously reported as covering 14,429 shares at an exercise price of $50.63, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.