SEC Form 4 · accession 0000014693-18-000079
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
Jun 1, 2018
Accepted (ET)
Jun 5, 2018 · 7:35 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 | Jun 1, 2018 | A | 29,631 | $0.00 | A | 209,344 | D | |
| Class A CommonF2,F3 | Jun 1, 2018 | F | 69,699 | $53.37 | D | 139,645 | D | |
| Class B CommonF1 | Jun 1, 2018 | A | 7,404 | $0.00 | A | 129,298 | D | |
| Class B CommonF4,F5 | Jun 1, 2018 | F | 17,415 | $56.04 | D | 111,883 | D | |
| Class A CommonF6 | holding | — | — | — | 8,223 | I | DRIP | |
| Class A Common | holding | — | — | — | 312,364 | I | GRAT | |
| Class A Common | holding | — | — | — | 444 | I | PCV Investments LLC | |
| Class B Common | holding | — | — | — | 50,000 | I | Family Trust | |
| Class B Common | holding | — | — | — | 197,846 | I | GRAT | |
| Class B Common | holding | — | — | — | 82,688 | I | PCV Investments LLC |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1These shares were issued on June 1, 2018, in connection with a July 23, 2015 award of performance-based restricted stock. The award, initially determined as a cash value, was subject to a three-year performance period, which ended April 30, 2018. The number of Class A and Class B shares issued was determined by multiplying the cash value of the award by a three-year performance adjustment factor, dividing the amount by $111.30, which was the closing price of the issuer's Class A common stock on the date of the grant, and then adjusting for subsequent stock splits and dividends during the performance period.
- F2To satisfy withholding obligations associated with the July 2013 award of Class A common stock that vested on June 1, 2018, the reporting person surrendered 69,699 shares of Class A common stock.
- F3The April 30, 2018 closing price of Brown-Forman Class A common stock was $53.37 and used to calculate withholding obligations.
- F4To satisfy withholding obligations associated with the July 2013 award of Class B common stock that vested on June 1, 2018, the reporting person surrendered 17,415 shares of Class B common stock.
- F5The April 30, 2018 closing price of Brown-Forman Class B common stock was $56.04 and used to calculate withholding obligations.
- F6Number of shares acquired through the issuer's dividend reinvestment plan as of June 5, 2018.