BROWN FORMAN CORP — Director's Dealing 2019

May 3, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2019-04-30

Reporting Person: de Chabert Ralph E (SVP, Chief Diversity Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-04-30	Class A Common	F	473	$52.30	Disposed	1038	Direct
2019-04-30	Class B Common	M	1503	$10.62	Acquired	5383.495	Direct
2019-04-30	Class B Common	F	696	$52.98	Disposed	4687.495	Direct
2019-04-30	Class B Common	F	120	$53.29	Disposed	4567.495	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-04-30	Stock Appreciation Right	$10.62	M	1503	Acquired	2019-04-30	Class B Common (1503.0)	Direct

Footnotes

F1: To satisfy withholding obligations associated with the July 23, 2015, award of Class A common stock that vested on April 30, 2019, the reporting person surrendered 473 shares of Class A common stock.

F2: The closing price of BF-A on April 30, 2019 was used to calculate the withholding obligation.

F3: The closing price of BF-B on April 29, 2019 was used to calculate the withholding obligation.

F4: To satisfy withholding obligations associated with the July 23, 2015, award of Class B common stock that vested on April 30, 2019, the reporting person surrendered 120 shares of Class B common stock.

F5: The closing price of BF-B on April 30, 2019 was used to calculate the withholding obligation.