SEC Form 4 · accession 0000014693-18-000031
BROWN FORMAN CORP · BF-A
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Andrew Masick
Officer — VP DIR CORP STRATEGY
Period of report
Apr 30, 2018
Accepted (ET)
May 2, 2018 · 7:36 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000014693
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class B Common | Apr 30, 2018 | M | 294 | $0.00 | A | 294 | D | |
| Class B CommonF1 | Apr 30, 2018 | F | 94 | $56.04 | D | 200 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3 | — | Apr 30, 2018 | M | 294 | D | Apr 30, 2018 | — | Class B Common | 294 | 0 | D |
| Stock Appreciation RightF4 | $40.145 | holding | — | — | — | May 1, 2018 | Apr 30, 2025 | Class B Common | 3,342 | 3,342 | D |
| Stock Appreciation RightF5 | $38.481 | holding | — | — | — | May 1, 2019 | Apr 30, 2026 | Class B Common | 9,784 | 9,784 | D |
| Stock Appreciation RightF6 | $39.757 | holding | — | — | — | May 1, 2020 | Apr 30, 2027 | Class B Common | 4,503 | 4,503 | D |
Explanation of responses
- F1The closing price of BF-B on April 30, 2018 was used to calculate the withholding obligation.
- F2Each restricted stock unit represents a contingent right to recive one share of Brown-Forman Class B common stock.
- F3The restricted stock units were granted on July 24, 2014, and vested on April 30, 2018.
- F4On February 28, 2018, the issuer completed a stock split resulting in the distribution of one share of Class B common stock for every four shares of either Class A or Class B common stock held. On April 23, 2018, the issuer paid a special cash dividend. These stock appreciation rights were previously reported as covering 2,624 shares at an exercise price of $51.125, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.
- F5These stock appreciation rights were previously reported as covering 7,682 shares at an exercise price of $49.005, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.
- F6These stock appreciation rights were previously reported as covering 3,535 shares at an exercise price of $50.63, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.