Pafilis Yiannis 4
4 · BROWN FORMAN CORP · Filed May 29, 2026
Research Summary
AI-generated summary of this filing
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.
Insider Transaction Report
- Award
Class A Common
[F1]2026-05-27+272→ 272 total - Tax Payment
Class A Common
[F2][F3]2026-05-27$26.72/sh−95$2,538→ 177 total - Award
Class B Common
[F4]2026-05-27+508→ 685 total - Tax Payment
Class B Common
[F5][F6]2026-05-27$25.94/sh−177$4,591→ 508 total
Footnotes (6)
- [F1]These shares were issued on May 27, 2026, in connection with a April 25, 2024, award of performance-based restricted stock units. The award was subject to a three-year performance period, which ended April 30, 2026.
- [F2]To satisfy withholding obligations associated with the April 25, 2024, award of performance-based restricted stock units that were issued as shares on May 27, 2026, the reporting person surrendered 95 shares of Class A common stock.
- [F3]The closing price of BF-A on May 27, 2026, was used to calculate the withholding obligation.
- [F4]These shares were issued on May 27, 2026, in connection with earlier awards of performance-based restricted stock units. 485 shares were issued in connection with a July 27, 2023, award, and 23 shares were issued in connection with an October 26, 2023, award. Each award was subject to a three-year performance period, which ended April 30, 2026.
- [F5]To satisfy withholding obligations associated with awards of performance-based restricted stock units that were issued as shares on May 27, 2026, the reporting person surrendered 169 shares of Class B common stock in connection with the July 27, 2023, award, and 8 shares of Class B common stock in connection with the October 26, 2023, award.
- [F6]The closing price of BF-B on May 27, 2026, was used to calculate the withholding obligation.