BROWN FORMAN CORP 4
4 · BROWN FORMAN CORP · Filed Jul 27, 2015
Insider Transaction Report
Form 4
RONEY MICHAEL J
Director
Transactions
- Award
Deferred Stock Units
2015-07-23+1,572.33→ 4,078.28 total→ Class A Common (1,572.33 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 23, 2015, were based on the closing price of the Company's Class A common stock on that date ($111.30). On each dividend payment date, participants are credited with DSU equivalents, and the DSU totals on this form have been updated to reflect such credits.
- [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.