Form 4: Brown-Forman EVP Leanne Cunningham Reports Stock Appreciation Right Grant

Leanne D. Cunningham, EVP and Chief Financial Officer of Brown-Forman Corp, reports the acquisition of stock appreciation rights.

Summary

• Leanne D. Cunningham, EVP and Chief Financial Officer of Brown-Forman Corp, filed a Form 4 on July 29, 2024, reporting a transaction.
• On July 25, 2024, Cunningham acquired 47,799 stock appreciation rights (SARs) at a price of $45.07.
• These SARs relate to Class B Common stock and are exercisable from May 1, 2027, and expire on April 30, 2034.
• Following the reported transaction, Cunningham directly owns 47,799 derivative securities.
• Cunningham has also granted a Power of Attorney to several individuals to handle SEC filings on her behalf.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, and the sentiment is neutral. It simply reports a transaction.

Positives

• The acquisition of stock appreciation rights aligns the executive's interests with those of the shareholders, incentivizing performance.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's future performance.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding insider transactions in publicly traded companies. This filing indicates changes in the holdings of a key executive at Brown-Forman.

Comparison to Industry Standards

• Executive compensation packages often include stock options or stock appreciation rights to align management's interests with shareholder value.
• The vesting schedule and expiration date of these SARs are typical for executive compensation plans.
• Comparing the size of the grant to similar grants at peer companies like Diageo or Pernod Ricard would provide further context.

Key Dates