Jeremy J. Shepherd - Mar 28, 2023 Form 4 Insider Report for BROWN FORMAN CORP (BFA)

Role: EVP, Pres, USA & Canada
Signature: Jaileah X. Huddleston, Attorney in Fact for Jeremy J. Shepherd
Stock symbol: BFA
Transactions as of: Mar 28, 2023
Transactions value $: -$58,998
Form type: 4
Date filed: 3/29/2023, 07:19 PM
Previous filing: Aug 1, 2022
Next filing: Jun 5, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFA	Class B Common	Options Exercise	$47.2K	+1.68K	+61.83%	$28.03	4.41K	Mar 28, 2023	Direct
transaction	BFA	Class B Common	Tax liability	-$76.3K	-1.21K	-27.47%	$63.06	3.2K	Mar 28, 2023	Direct	F1
transaction	BFA	Class B Common	Sale	-$29.9K	-473	-14.8%	$63.16	2.72K	Mar 28, 2023	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BFA	Stock Appreciation Right	Options Exercise	$0	-1.68K	-100%	$0.00^*	0	Mar 28, 2023	Class B Common	1.68K	$28.03	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The closing price of BF-B on March 27, 2023, was used to calculate the withholding obligation.
F2	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.1604 to $63.18, inclusive. The reporting person undertakes to provide to Brown-Forman Corporation, any security holder of Brown-Forman Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Content

The closing price of BF-B on March 27, 2023, was used to calculate the withholding obligation.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.1604 to $63.18, inclusive. The reporting person undertakes to provide to Brown-Forman Corporation, any security holder of Brown-Forman Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.