Michael Todman - Jul 27, 2023 Form 4 Insider Report for BROWN FORMAN CORP (BFA)

Role: Director
Signature: Jaileah X. Huddleston, Attorney in Fact for Michael A. Todman
Stock symbol: BFA
Transactions as of: Jul 27, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/28/2023, 07:13 PM
Previous filing: Jun 20, 2023
Next filing: Sep 18, 2023

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	Deferred Stock Units	Award	$0	+2.18K	+9.41%	$0.00	25.3K	Jul 27, 2023	Class A Common	2.18K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Under the Brown-Forman Corporation Non-Employee Director Deferred Stock Unit Program, each DSU represents the right to receive one share of the Company's Class A stock. Grants made on July 27, 2023, were based on the closing price of the Company's Class A common stock on that date ($71.23). On each dividend payment date, participants are credited with DSU equivalents, and the DSU total on this form has been updated to reflect such credits.
F2	Annual grants of DSUs vest over the course of the Board year. DSUs are paid out in Class A common stock on the first February 1 that is at least six months following the director's termination from Board service.

Content

Under the Brown-Forman Corporation Non-Employee Director Deferred Stock Unit Program, each DSU represents the right to receive one share of the Company's Class A stock. Grants made on July 27, 2023, were based on the closing price of the Company's Class A common stock on that date ($71.23). On each dividend payment date, participants are credited with DSU equivalents, and the DSU total on this form has been updated to reflect such credits.

Annual grants of DSUs vest over the course of the Board year. DSUs are paid out in Class A common stock on the first February 1 that is at least six months following the director's termination from Board service.