Brown‑Forman EVP Yiannis Pafilis Receives Stock Awards, Surrenders Shares

What Happened
Yiannis Pafilis, EVP and President for Europe, Africa and Asia at Brown‑Forman, was issued performance-based restricted stock shares on May 27, 2026: 272 Class A shares and 508 Class B shares (total 780 shares) at $0.00 as the awards vested. To satisfy tax withholding, he surrendered 95 Class A shares (95 @ $26.72 = $2,538) and 177 Class B shares (177 @ $25.94 = $4,591). Net effect: Pafilis received 780 shares and surrendered 272 shares, a net increase of 508 shares (net +177 Class A; net +331 Class B).

Key Details

• Transaction date: May 27, 2026 (issuance and withholding surrender).
• Award issuance: 272 shares (Class A) and 508 shares (Class B) granted at $0.00 (vesting of performance-based RSUs).
• Withholding/surrender: 95 Class A shares at $26.72 (=$2,538) and 177 Class B shares at $25.94 (=$4,591). Total cash value surrendered ≈ $7,129.
• Reason: Shares issued from performance-based restricted stock unit awards with three-year performance periods ending April 30, 2026 (awards dated April 25, 2024; earlier awards from July 27, 2023 and Oct 26, 2023).
• Filing: Form 4 filed May 29, 2026 for transactions on May 27, 2026 (appears timely).
• Post-transaction holdings: Not provided in the details supplied.

Context
These transactions reflect vested performance-based RSUs issued as shares and routine tax-withholding via share surrender (code F), not an open-market sale or a purchaser signaling bullish intent. Surrendering shares to cover withholding is common and doesn’t necessarily indicate a change in insider sentiment.