Form 4: Brown-Forman Executive Reports Stock Transactions

Matthew E. Hamel, former EVP and General Counsel of Brown-Forman, reports transactions involving Class B Common stock, including acquisitions and disposals related to stock appreciation rights and tax obligations.

Summary

• Matthew E. Hamel, a former executive at Brown-Forman, filed a Form 4 detailing changes in his beneficial ownership of the company's Class B Common stock.
• On April 30, 2024, Hamel exercised stock appreciation rights, acquiring 8,541 shares at a price of $35.603.
• He also disposed of 6,947 shares to cover withholding tax obligations at a price of $48.69.
• Following these transactions, Hamel directly owns 20,844 shares of Class B Common stock.
• Additionally, he indirectly owns shares through a 2021 GRAT (19,766 shares), a GRAT (30,728 shares), a 401(k) plan (20,575.0514 shares), a dividend reinvestment plan (20.2326 shares), an employee stock purchase program (5,410.3426 shares), and a spouse trust (107,277 shares).

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates transactions by a former executive, which is typical as individuals manage their equity holdings after leaving a company.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely negligible given the volume of shares traded relative to the company's total outstanding shares.

Key Dates