SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Whiting Lawson E
(Last) (First) (Middle)
850 DIXIE HIGHWAY
(Street)
LOUISVILLE KY 40210
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BROWN FORMAN CORP [ BFA, BFB ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, Chief Brands & Strategy
3. Date of Earliest Transaction (Month/Day/Year)
03/10/2017
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class B Common 03/10/2017 M 7,910 A $19.215 7,910 D
Class B Common 03/10/2017 M 8,248 A $13.525 16,158 D
Class B Common 03/10/2017 F 9,885 D $46.21(1) 6,723 D
Class B Common 03/10/2017 S 6,723 D $46.5201 0 D
Class A Common 3,081(2) D
Class A Common 2.6784(3) I DRIP
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Appreciation Right $13.525(4) 03/10/2017 M 8,248 05/01/2012 04/30/2019 Class B Common 8,248 $0 0(4) D
Stock Appreciation Right $19.215(5) 03/10/2017 M 7,910 05/01/2013 04/30/2020 Class B Common 7,910 $0 0(5) D
Stock Appreciation Right $23.2(6) 05/01/2014 04/30/2021 Class B Common 17,156 17,156(6) D
Stock Appreciation Right $29.35(7) 05/01/2015 04/30/2022 Class B Common 15,518 15,518(7) D
Stock Appreciation Right $36.21(8) 05/01/2016 04/30/2023 Class B Common 17,184 17,184(8) D
Stock Appreciation Right $45.985(9) 05/01/2017 04/30/2024 Class B Common 12,078 12,078(9) D
Stock Appreciation Right $51.1265(10) 05/01/2018 04/30/2025 Class B Common 15,740 15,740(10) D
Stock Appreciation Right $49.005(11) 05/01/2019 04/30/2026 Class B Common 22,696 22,696(11) D
Explanation of Responses:
1. The closing price of BF-B on March 9, 2017 was used to calculate the withholding obligation.
2. Reflects the acquisition of 1,540 additional shares in the August 2016 stock split.
3. Number of shares acquired through the issuer's dividend reinvestment plan as of March, 2017.
4. These stock appreciation rights were previously reported as covering 4,124 shares at an exercise price of $27.05, but were adjusted to reflect the August 2016 stock split.
5. These stock appreciation rights were previously reported as covering 3,955 shares at an exercise price of $38.43, but were adjusted to reflect the August 2016 stock split.
6. These stock appreciation rights were previously reported as covering 8,578 shares at an exercise price of $46.40, but were adjusted to reflect the August 2016 stock split.
7. These stock appreciation rights were previously reported as covering 7,759 shares at an exercise price of $58.70, but were adjusted to reflect the August 2016 stock split.
8. These stock appreciation rights were previously reported as covering 8,592 shares at an exercise price of $72.42, but were adjusted to reflect the August 2016 stock split.
9. These stock appreciation rights were previously reported as covering 6,039 shares at an exercise price of $91.97, but were adjusted to reflect the August 2016 stock split.
10. These stock appreciation rights were previously reported as covering 7,870 shares at an exercise price of $102.25, but were adjusted to reflect the August 2016 stock split.
11. These stock appreciation rights were previously reported as covering 11,348 shares at an exercise price of $98.01, but were adjusted to reflect the August 2016 stock split.
Remarks:
Michael E. Carr, Jr., Attorney in Fact for Lawson E. Whiting 03/14/2017
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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