BF director moves 2,720 shares; 1,360 into two child trusts

Rhea-AI Filing Summary

Marshall B. Farrer, a director of Brown‑Forman Corporation (tickers BFA, BFB), reported changes in beneficial ownership dated 10/08/2025. The filing shows a disposition of 2,720 Class B common shares and two corresponding acquisitions of 1,360 Class B shares each, both with $0 price reported and held indirectly in Child-1 Trust and Child-2 Trust. After the transactions, Mr. Farrer directly owned 19,017 Class B shares and indirectly held 1,360 shares in each trust. The Form 4 was signed by an attorney‑in‑fact on 10/09/2025.

Positive

• Continued substantial direct ownership of 19,017 Class B shares after transactions
• Use of trusts (Child-1 Trust and Child-2 Trust) indicates structured estate or succession planning rather than outright divestment

Negative

• Disposition of 2,720 Class B shares was reported, which reduces direct holdings before the reported acquisitions

Insights

Corporate Governance Analyst

TL;DR: Director reported a net reallocation of shares into two child trusts and a direct sale on 10/08/2025.

The report documents a 2,720-share disposal and two 1,360-share acquisitions recorded at $0, suggesting internal transfers into Child-1 Trust and Child-2 Trust rather than open-market purchases. Such moves often reflect estate planning or family trust funding while leaving the director with substantial direct ownership of 19,017 Class B shares.

Primary dependencies are the filing's stated transaction codes and $0 prices; absent additional context, this appears administrative rather than a market-driven trade. Watch for any subsequent filings that clarify whether the dispositions were to third parties or reclassifications, typically updated within days to weeks.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Farrer Marshall

(Last) (First) (Middle)

850 DIXIE HIGHWAY

(Street)

LOUISVILLE KY 40210

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BROWN FORMAN CORP [ BFA, BFB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class B Common	10/08/2025		G		2,720	D	$0	19,017	D
Class B Common	10/08/2025		G	V	1,360	A	$0	1,360	I	Child-1 Trust
Class B Common	10/08/2025		G	V	1,360	A	$0	1,360	I	Child-2 Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	Karleen M. Finnegan, Attorney in fact for Marshall B. Farrer	10/09/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Marshall B. Farrer report on the Form 4 for Brown‑Forman (BF)?

The filing reports a disposition of 2,720 Class B shares and two acquisitions of 1,360 Class B shares each on 10/08/2025.

How many Class B shares does Marshall B. Farrer own after these transactions?

Following the reported transactions he directly owns 19,017 Class B shares and indirectly holds 1,360 shares in each of two trusts.

Were the reported transactions priced or were they transfers?

All reported transactions list a price of $0, indicating transfers or allocations rather than standard market purchases at a cash price.

What is the relationship of the reporting person to Brown‑Forman (BF)?

The reporting person, Marshall B. Farrer, is identified as a director of the company.

When was the Form 4 signed and filed?

The signature by the attorney‑in‑fact is dated 10/09/2025, with the earliest transaction date listed as 10/08/2025.