Bentel Matias Form 4 BROWN FORMAN / Matias Bentel ownership change

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

OMB APPROVAL

OMB Number:	3235-0287
Estimated average burden
hours per response:	0.5

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^*

Bentel Matias

(Last) (First) (Middle)

850 DIXIE HWY

(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)
SVP, Chief Brands Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2022

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	06/01/2022		A		823(1)	A	$0	3,400	D
Class B Common	06/01/2022		F		258(2)	D	$67.44(3)	3,142	D

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	$39.2(4)							05/01/2020	04/30/2027	Class B Common	1,409		1,409(4)	D
Stock Appreciation Right	$53.244(5)							05/01/2021	04/30/2028	Class B Common	3,495		3,495(5)	D
Stock Appreciation Right	$53.875(6)							05/01/2022	04/30/2029	Class B Common	4,935		4,935(6)	D
Stock Appreciation Right	$68.241(7)							05/01/2023	04/30/2030	Class B Common	9,546		9,546(7)	D
Stock Appreciation Right	$70.242(8)							05/01/2024	04/30/2031	Class B Common	11,530		11,530(8)	D

Explanation of Responses:

1. These shares were issued on June 1, 2022, in connection with a July 25, 2019, award of performance-based restricted stock units. The award was subject to a three-year performance period, which ended April 30, 2022.

2. To satisfy withholding obligations associated with the July 25, 2019, award of performance-based restricted stock units that were issued as shares on June 1, 2022, the reporting person surrendered 258 shares of Class B common stock.

3. The closing price of BF-B on April 29, 2022, was used to calculate the withholding obligation.

4. These stock appreciation rights were previously reported as covering 1,389 shares at an exercise price of $39.757, but were adjusted to reflect the December 2021 special dividend.

5. These stock appreciation rights were previously reported as covering 3,446 shares at an exercise price of $54, but were adjusted to reflect the December 2021 special dividend.

6. These stock appreciation rights were previously reported as covering 4,865 shares at an exercise price of $54.64, but were adjusted to reflect the December 2021 special dividend.

7. These stock appreciation rights were previously reported as covering 9,412 shares at an exercise price of $69.21, but were adjusted to reflect the December 2021 special dividend.

8. These stock appreciation rights were previously reported as covering 11,368 shares at an exercise price of $71.24, but were adjusted to reflect the December 2021 special dividend.

Remarks:

	Jaileah X. Huddleston, Attorney in Fact for Matias Bentel	06/03/2022
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.