BROWN FORMAN CORP 4

4 · BROWN FORMAN CORP · Filed Mar 11, 2015

Insider Transaction Report

Form 4

Period: 2015-03-09

BROWN FORMAN CORPBF'B

STUBBS DACE BROWN

Director

Transactions

Tax Payment
Class B Common
2015-03-09$88.76/sh−1,822$161,721→ 297,965.5 total
Sale
Class B Common
2015-03-09$89.10/sh−3,836$341,796→ 294,129.5 total
Gift
Class B Common
2014-12-16−7,900→ 294,129.5 total
Exercise/Conversion
Class B Common
2015-03-09$28.58/sh+5,658$161,706→ 299,787.5 total
Exercise/Conversion
Stock Appreciation Right
2015-03-09−5,658→ 0 total
Exercise: $28.58From: 2005-07-28Exp: 2015-04-30→ Class B Common (5,658 underlying)

Holdings

Class A Common
(indirect: By Trust)
2,379.1
Class B Common
(indirect: Log House 2011 LP)
577,566
Deferred Stock Units
→ Class A Common (2,167.66 underlying)
2,167.66
Stock Appreciation Right
Exercise: $33.76From: 2007-07-26Exp: 2017-04-30→ Class B Common (5,987 underlying)
5,987
Stock Appreciation Right
Exercise: $34.95From: 2006-07-27Exp: 2016-04-30→ Class B Common (4,819 underlying)
4,819
Class A Common
101,409.7
Class A Common
(indirect: By Trust)
1,758.7
Class A Common
(indirect: Log House 2011 LP)
3,882,267
Class A Common
(indirect: By Partnership)
235,495
Class B Common
(indirect: By Partnership)
175,000
Deferred Stock Units
→ Class B Common (3,377.67 underlying)
3,377.67
Stock Appreciation Right
Exercise: $27.05From: 2009-07-23Exp: 2019-04-30→ Class B Common (6,752 underlying)
6,752
Stock Appreciation Right
Exercise: $35.51From: 2008-07-24Exp: 2018-04-30→ Class B Common (5,495 underlying)
5,495

Footnotes (6)

[F1]The closing price of BF-B ($88.76) on March 8, 2015 was used to calculate the tax withholding obligation.
[F2]The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $89.10 to $89.105, 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 purchased at each separate price within the range set forth in this footnote.
[F3]Under the Brown-Forman Corporation Non-Employee Director Deferred Stock Unit Progam each DSU represents the right to receive one share the the Company's Class A common stock. On each dividend payment date, participants are credited with DSU equivalents.
[F4]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.
[F5]Under the Brown-Forman Corporation Non-Employee Director Deferred Stock Unit Program each DSU represents the right to receive one share the the Company's Class B common stock. On each dividend payment date, participants are credited with DSU equivalents.
[F6]Annual grants of DSUs vest over the course of the Board year. DSUs are paid out in Class B common stock on the first February 1 that is at least six monts following the Director's termination from Board service.

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