Whiting Lawson E 4

What Happened
Whiting Lawson E (President & CEO, Director) sold 25,915 shares of Brown‑Forman on February 12, 2026 in open-market transactions. The weighted-average sale price was $31.01, with individual trades ranging from $31.00 to $31.04, for total proceeds of approximately $803,624. This was a sale (not a purchase), and these transactions were executed under a pre-established trading plan.

Key Details

• Transaction date: February 12, 2026. Filing date: February 13, 2026 (filed the next day; appears timely).
• Shares sold: 25,915; reported weighted-average price: $31.01; price range: $31.00–$31.04. Total proceeds ≈ $803,624. (Footnote F1: price is a weighted average across multiple trades.)
• Plan/authorization: Sales effected pursuant to a Rule 10b5-1 trading plan adopted March 31, 2025 (Footnote F2).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Other footnote: F3 references shares acquired through the issuer’s dividend reinvestment plan as of Feb 12, 2026.
• No indication in the filing excerpt of tax-withholding or gift-related codes.

Context
Trades executed under a Rule 10b5-1 plan are pre-arranged and typically scheduled in advance, so they often reflect a planned disposition rather than a change in the insider’s view of the company. Sales are routine insider activity and, by themselves, do not necessarily indicate negative insider sentiment.