Enyard Angela S 4

What Happened

• Angela S. Enyard, Senior Vice President and Chief Accounting Officer of Brown‑Forman, had restricted stock units (RSUs) convert into 884 shares of Class B common stock on April 30, 2026. Of those, 307 shares were withheld to satisfy tax withholding at $25.77 per share (total withholding value reported as $7,911). The remaining 577 shares were delivered to Enyard (net increase to her holdings).
• This was a vesting/conversion event (derivative conversion of RSUs) with share withholding for taxes — not an open‑market sale or purchase.

Key Details

• Transaction date: 2026‑04‑30; Form 4 filed: 2026‑05‑05 (filed 5 days after the transaction date; Form 4s are normally due within 2 business days).
• Activity codes: M = exercise/conversion of derivative (RSU → shares); F = payment of exercise price/tax liability (shares withheld).
• Shares converted: 884 total (broken out on the form as 258, 419, and 207 share conversions); shares withheld for tax: 307 at $25.77 = $7,911.
• Net effect: +577 shares added to Enyard’s holdings from this vesting event.
• Footnotes: RSUs convert 1:1 to Class B shares and totals reflect credited dividends (F1). Closing price of BF‑B on 4/30/2026 used to calculate withholding (F2). Grants and vesting origins: RSUs granted 7/27/2023 (vested 4/30/2026), 7/25/2024 (partial vest 4/30/2026 & 4/30/2027), and 1/30/2025 (partial vest 4/30/2026 & 4/30/2027) (F3–F5).
• Total shares owned after the transaction are not reported in the provided excerpt.

Context

• These entries reflect RSU vesting and a cashless settlement (shares withheld to cover taxes), a common executive compensation event. Such automatic withholding should not be read as a sale or purchase decision in the open market.
• For retail investors, vesting events increase insider share counts but do not necessarily signal the insider’s view on the stock; purchases (out‑of‑pocket buys) are generally more informative about sentiment.