Form 4: Brown-Forman EVP Timothy Nall Reports Stock Transactions
SEC Form 4 Filing
Executive Vice President of Brown-Forman, Timothy Nall, reports acquisition and disposal of Class B Common stock due to option exercise and tax withholding.
Summary
- On April 1, 2024, Timothy Nall, EVP, Chief Supply Chain and Technology Officer at Brown-Forman Corp, engaged in transactions involving Class B Common stock.
- Nall acquired 8,043 shares of Class B Common stock through the exercise of stock appreciation rights at a price of $35.603.
- Simultaneously, Nall disposed of 6,726 shares of Class B Common stock at $51.62 to cover withholding tax obligations.
- Following these transactions, Nall directly owns 6,158 shares of Class B Common stock.
- Nall also indirectly owns 6,656.7345 shares through a family trust and shares through a 401(k) plan.
- Nall has granted power of attorney to Michael E. Carr, Jr., Mary E. Barrazotto, Nancie Oliver Mauffray, Laura H. Pulliam, and Mary C. Garris to handle SEC filings.
Sentiment
Score: 6
Explanation: The document reflects standard executive compensation practices and SEC reporting, indicating a neutral sentiment.
Positives
- The exercise of stock appreciation rights indicates a positive outlook by the executive on the company's future performance.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.
Comparison to Industry Standards
- Executive compensation packages often include stock options and appreciation rights to align management's interests with those of shareholders.
- Tax withholding practices related to stock option exercises are standard across publicly traded companies.
- Power of attorney arrangements for SEC filings are common among corporate executives.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 2024-02-29 | Date of Power of Attorney execution. |
| 2017-05-01 | Date Stock Appreciation Right was exercisable. |
| 2024-03-28 | Date used to calculate withholding obligation. |
| 2024-04-01 | Date of stock transaction (exercise of rights and disposal of shares). |
| 2024-04-02 | Date of shares acquired through the issuer's 401(k) plan. |
| 2024-04-03 | Date of signature on the Form 4. |
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