TODMAN MICHAEL 4

What Happened

• Michael Todman, a director of Brown‑Forman Corporation, was granted 6,476.191 deferred stock units (DSUs) on July 23, 2026. The DSUs were granted as an award (transaction code A) at $0.00 cash cost; the grant value based on the July 23 closing price ($26.25) is approximately $170,000. This is a routine director compensation grant (not an open‑market purchase or sale).

Key Details

• Transaction date and type: 2026-07-23 — Grant/Award (A), derivative DSUs acquired at $0.00.
• Grant value: 6,476.191 DSUs × $26.25 closing price ≈ $170,000.
• Shares owned after transaction: Not disclosed in the filing provided.
• Footnotes: F1—Each DSU equals the right to one Class A share; DSU totals reflect dividend equivalents credited on dividend dates. F2—DSUs vest over the Board year and are paid in Class A common stock on the first Feb 1 at least six months after a director’s board service ends.
• Filing timeliness: Report filed 2026‑07‑24 for a 2026‑07‑23 grant — appears timely (not flagged late).

Context

• DSUs are a form of deferred equity compensation for non‑employee directors and represent a future right to receive shares; they are derivative awards (not immediate share ownership). Such grants are routine compensation and don’t necessarily signal a director buying or selling stock.