[Form 4] Brown-Forman Corporation Insider Trading Activity

Rhea-AI Filing Summary

Insider activity: Director Mary Ann Sigler filed Form 4 reporting an open-market purchase (code “P”) of 7,500 McGraw Hill (MH) common shares on 07/25/2025 at $17.00 each, a cash outlay of roughly $127.5 k. The transaction brings her direct holding to exactly 7,500 shares; no prior ownership or derivative positions were disclosed. No other transactions or footnotes appear. While modest versus the company’s market capitalization, director purchases are typically interpreted as a positive signal of insider confidence.

Positive

• Director insider purchase: 7,500 shares acquired at $17, indicating personal confidence in MH stock.

Negative

• None.

Insights

Portfolio Manager

TL;DR: Small director buy (7.5k shares, $127k) signals confidence but is immaterial to MH valuation; sentiment mildly positive.

The purchase represents a first stake for Director Sigler, suggesting personal commitment at a time when the stock trades at $17. With no accompanying sales or derivative grants, the move is a clean insider buy, historically correlated with modest outperformance. However, the dollar value is negligible relative to daily trading volume and market cap, so it should not alter fundamental models or liquidity. I view the disclosure as a minor sentiment uptick rather than a catalyst.

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^*

Nguyen Diane F

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Ppl & Comm

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
Stock Appreciation Right	$31.15	07/24/2025		A		28,418		05/01/2028	04/30/2035	Class B Common	28,418	$0	28,418	D

Explanation of Responses:

Remarks:

	Karleen M. Finnegan, Attorney in Fact for Diane F. Nguyen	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 McGraw Hill (MH) shares did the director buy?

Mary Ann Sigler purchased 7,500 common shares.

At what price were the MH shares acquired?

The shares were bought at $17.00 per share.

What is the total value of the insider purchase?

The transaction is valued at approximately $127,500.

Does the director own any derivative securities?

No, the Form 4 reports no derivative positions.

What is the reporting person's current MH share ownership after the transaction?

Sigler now directly owns 7,500 MH shares.