[Form 4] Brown-Forman Corporation Insider Trading Activity

Rhea-AI Filing Summary

On 07/21/2025, Quest Diagnostics Inc. (DGX) executive Mark E. Delaney, SVP & Chief Commercial Officer, reported acquiring 17 common shares at $167.491 each through a dividend reinvestment plan, a transaction eligible for deferred Form 5 reporting but voluntarily disclosed early on this Form 4. After the purchase, Delaney directly owns 7,515 DGX shares. No derivative securities were involved, and the filing indicates a routine, non-material change in insider ownership.

Insights

Securities Analyst

TL;DR: Minor DRIP purchase (17 shares) by DGX SVP; negligible ownership change, neutral signal, no impact on valuation.

The transaction represents less than 0.01% of Quest Diagnostics’ outstanding shares and appears to stem from automatic dividend reinvestment rather than discretionary buying. While insider acquisitions can be a confidence indicator, the immaterial size and routine nature limit its relevance for investors. No derivatives or complex structures were disclosed, and total direct holdings now stand at 7,515 shares. Overall, I view the filing as administratively neutral with no actionable investment implications.

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).

1. Name and Address of Reporting Person^*

Singer Jan

(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)
07/24/2025

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

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
Deferred Stock Units	(1)	07/24/2025		A		5,014.5584		(2)	(2)	Class A Common	5,014.5584	$0	13,957.2606	D

Explanation of Responses:

1. Under the Brown-Forman Corporation Amended and Restated Non-Employee Director Deferred Stock Unit Program, each DSU represents the right to receive one share of the Company's Class A stock. Grants made on July 24, 2025, were based on the closing price of the Company's Class A common stock on that date ($30.91). On each dividend payment date, participants are credited with DSU equivalents, and the DSU total on this form has been updated to reflect such credits.

2. Annual grants of DSUs vest over the course of the Board year. DSUs are paid out in Class A common stock on the first February 1 that is at least six months following the director's termination from Board service.

Remarks:

	Karleen M. Finnegan, Attorney in Fact for Jan E. Singer	07/25/2025
	** 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

How many Quest Diagnostics (DGX) shares did Mark E. Delaney acquire?

He acquired 17 common shares.

What price was paid for the DGX shares in the Form 4 filing?

The shares were purchased at $167.491 per share.

What is Delaney’s total direct DGX ownership after the transaction?

He now directly owns 7,515 shares.

What type of transaction was reported on this Form 4?

A dividend reinvestment plan (DRIP) share acquisition voluntarily reported early.

Were any derivative securities involved in the filing?

No; Table II shows no derivative activity.

When was the transaction executed and when was the Form 4 filed?

Executed on 07/21/2025 and filed on 07/25/2025.