SEC Form 4 · accession 0000014693-18-000051
BROWN FORMAN CORP · BF-A
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul C Varga
Officer — Chairman & CEO · Director
Period of report
Apr 30, 2018
Accepted (ET)
May 2, 2018 · 8:27 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 A CommonF1,F2 | Apr 30, 2018 | F | 7,570 | $53.37 | D | 179,713 | D | |
| Class B CommonF3,F4,F5 | Apr 30, 2018 | F | 1,893 | $56.04 | D | 121,894 | D | |
| Class A Common | holding | — | — | — | 3,688 | I | DRIP | |
| Class A Common | holding | — | — | — | 312,364 | I | GRAT | |
| Class A Common | holding | — | — | — | 444 | I | PCV Investments LLC | |
| Class B CommonF6 | holding | — | — | — | 50,000 | I | Family Trust | |
| Class B CommonF7 | holding | — | — | — | 197,846 | I | GRAT | |
| Class B CommonF8 | holding | — | — | — | 82,688 | I | PCV Investments LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightF9 | $23.047 | holding | — | — | — | May 1, 2015 | Apr 30, 2022 | Class B Common | 235,630 | 235,630 | D |
| Stock Appreciation RightF10 | $28.433 | holding | — | — | — | May 1, 2016 | Apr 30, 2023 | Class B Common | 158,757 | 158,757 | D |
| Stock Appreciation RightF11 | $36.109 | holding | — | — | — | May 1, 2017 | Apr 30, 2024 | Class B Common | 155,424 | 155,424 | D |
| Stock Appreciation RightF12 | $40.145 | holding | — | — | — | May 1, 2018 | Apr 30, 2025 | Class B Common | 196,435 | 196,435 | D |
| Stock Appreciation RightF13 | $38.481 | holding | — | — | — | May 1, 2019 | Apr 30, 2026 | Class B Common | 273,905 | 273,905 | D |
| Stock Appreciation RightF14 | $39.757 | holding | — | — | — | May 1, 2020 | Apr 30, 2027 | Class B Common | 231,052 | 231,052 | D |
Explanation of responses
- F1To satisfy withholding obligations associated with the July 24, 2014 award of Class A common stock that vested on April 30, 2018, the reporting person surrendered 7,570 shares of Class A common stock.
- F10These stock appreciation rights were previously reported as covering 124,664 shares at an exercise price of $36.21, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.
- F11These stock appreciation rights were previously reported as covering 122,046 shares at an exercise price of $45.985, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.
- F12These stock appreciation rights were previously reported as covering 154,250 shares at an exercise price of $51.125, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.
- F13These stock appreciation rights were previously reported as covering 215,084 shares at an exercise price of $49.005, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.
- F14These stock appreciation rights were previously reported as covering 181,433 shares at an exercise price of $50.63, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.
- F2The closing price of BF-A on April 30, 2018 was used to calculate the withholding obligation.
- F3To satisfy withholding obligations associated with the shares of Class B performance-based restricted stock that were issued in the February 2018 stock split and vested on April 30, 2018, the reporting person surrendered 1,893 shares of Class B common stock.
- F4The closing price of BF-B on April 30, 2018 was used to calculate the withholding obligation.
- F5On 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. Total has been updated to reflect the acquisition of 62,213 additional shares in the February 2018 stock split, including 3,980 shares of Class B common performance-based restricted stock issued in connection with the July 24, 2014 award of Class A common stock.
- F6Total has been updated to reflect the acquisition of 10,000 additional shares in the February 2018 stock split.
- F7Total has been updated to reflect the acquisition of 102,042 additional shares in the February 2018 stock split.
- F8Total has been updated to reflect the acquisition of 16,626 additional shares in the February 2018 stock split.
- F9These stock appreciation rights were previously reported as covering 185,028 shares at an exercise price of $29.35, but were adjusted to reflect the February 2018 stock split and April 2018 special dividend.