BROWN FORMAN CORP — Director's Dealing 2021

Mar 16, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BROWN FORMAN CORP (BFA, BFB)
CIK: 0000014693
Period of Report: 2021-03-15

Reporting Person: Alvarez Alejandro A (SVP, Chief Production Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-15	Class B Common	M	10589	$18.217	Acquired	12915	Direct
2021-03-15	Class B Common	F	5210	$71.91	Disposed	7705	Direct
2021-03-15	Class B Common	S	5379	$72.2332	Disposed	2326	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-03-15	Stock Appreciation Right	$18.217	M	10589	Disposed	2021-04-30	Class B Common (10589.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common	1471.6169	Indirect

Footnotes

F1: The closing price of BF-B on March 12, 2021 was used to calculate the withholding obligation.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $72.211 to $72.28, 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.

F3: Number of shares acquired through the issuer's 401(k) plan as of March 15, 2021.