Form 4: Brown-Forman Executive Acquires Stock Appreciation Rights
SEC Form 4 Filing
Michael E. Carr, Jr., EVP, General Counsel, and Secretary of Brown-Forman Corp, reports the acquisition of stock appreciation rights.
Summary
- On July 25, 2024, Michael E. Carr, Jr., an executive at Brown-Forman Corp, acquired 10,335 stock appreciation rights at a price of $45.07.
- These rights are exercisable from May 1, 2027, and expire on April 30, 2034.
- Following this transaction, Carr directly owns 10,335 derivative securities.
- A power of attorney was executed on July 18, 2024, granting authority to several individuals to act on Carr's behalf regarding SEC filings.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing regarding executive compensation, indicating a neutral sentiment.
Positives
- The acquisition of stock appreciation rights aligns the executive's interests with the company's performance.
Future Outlook
There are no specific forward-looking statements in this document.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.
Stakeholder Impact
- The acquisition of stock appreciation rights may have a minor positive impact on shareholder sentiment as it aligns executive interests with company performance.
Key Dates
| Date | Description |
|---|---|
| 07/18/2024 | Date of execution of Power of Attorney. |
| 07/25/2024 | Date of transaction: acquisition of stock appreciation rights. |
| 05/01/2027 | Date the Stock Appreciation Rights become exercisable. |
| 04/30/2034 | Expiration date of the Stock Appreciation Rights. |
| 07/29/2024 | Date of Form 4 filing. |
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