BROWN FORMAN CORP 4
4 · BROWN FORMAN CORP · Filed Jul 28, 2014
Insider Transaction Report
Form 4
RONEY MICHAEL J
Director
Transactions
- Award
Deferred Stock Units
2014-07-24+1,939.06→ 2,473.13 total→ Class A Common (1,939.06 underlying)
Footnotes (2)
- [F1]Under the Brown-Forman Corporation Non-Employee Director Deferred Stock Unit Program each DSU represents the right to receive one share of the Company's Class A common stock. Grants made on July 24, 2014, were based on the closing price of the Company's Class A common stock on that date ($90.25). On each dividend payment date, participants are credited with DSU equivalents.
- [F2]Annual grants of DSUs vest over the course of the Board year. DSUs are paid out in class A common stock on the first February 1 that is at least six months following the Director's termination from Board service.