Form 4: Brown-Forman Director Campbell P. Brown Reports Changes in Beneficial Ownership

Director Campbell P. Brown reports acquisition and disposal of Class B Common stock in Brown-Forman Corp.

Summary

• Campbell P. Brown, a director of Brown-Forman Corp, filed a Form 4 disclosing changes in beneficial ownership of the company's Class B Common stock.
• On April 30, 2024, Brown acquired 2,874 shares of Class B Common stock at a price of $35.60.
• On the same day, Brown disposed of 2,379 shares of Class B Common stock at a price of $48.69 to cover withholding obligations.
• Following these transactions, Brown directly owns 570,863 shares of Class B Common stock.
• Brown also indirectly owns shares through various entities and trusts.
• A Power of Attorney was executed on February 28, 2024, granting certain individuals the authority to act on Brown's behalf in matters related to SEC filings.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating neutral sentiment.

Industry Context

Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for corporate insiders across all publicly traded companies, including competitors of Brown-Forman such as Diageo, Pernod Ricard, and Constellation Brands.
• The reporting requirements and timelines are consistent across the industry, ensuring a level playing field for transparency.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• It helps maintain investor confidence by ensuring compliance with SEC regulations.

Key Dates