[Form 4] Brown-Forman Corporation Insider Trading Activity

Rhea-AI Filing Summary

Allegion plc (NYSE: ALLE) filed a Form 144 indicating an insider’s intent to sell 3,849 ordinary shares on or about 25 Jul 2025 through UBS Financial Services. The proposed sale has an aggregate market value of $634,653 versus ~85.8 million shares outstanding, representing only 0.0045% of total equity. The shares derive from multiple equity-based awards (option exercise, RSU and PSU vesting) acquired between 2021-2025 and will be sold for cash. No other sales by this person were reported in the past three months. By signing, the seller certifies no undisclosed material adverse information exists.

Positive

• Fractional size: Sale equals only ~0.005% of shares outstanding, implying minimal dilution or supply pressure.

Negative

• Insider selling can be perceived negatively, hinting at reduced confidence or personal liquidation, though context is limited.

Insights

Financial Analyst

TL;DR: Minor insider sale (0.005% float) — informational, not price-moving.

The Form 144 discloses a prospective divestiture of 3,849 ALLE shares worth roughly $0.63 million. Against an 85.8 million share base, dilution/float impact is <0.01%, so liquidity and control remain unaffected. The stock originates from routine incentive grants (options/RSUs/PSUs) and the seller reports no other recent transactions. While insider selling can signal caution, the small size and diversification purpose suggest neutral implications. No financial results, guidance changes or strategic events are included, so overall market impact is limited.

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^*

Enyard Angela S

(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)
	SVP, Chief Accounting Officer

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		7,564		05/01/2028	04/30/2035	Class B Common	7,564	$0	7,564	D

Explanation of Responses:

Remarks:

	Karleen M. Finnegan, Attorney in Fact for Angela S. Enyard	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 Allegion (ALLE) shares are being sold under this Form 144?

The notice covers 3,849 ordinary shares.

What is the market value of the proposed ALLE share sale?

The aggregate market value is $634,653.

When is the approximate sale date for the Allegion shares?

The shares are expected to be sold on or around July 25, 2025.

What percentage of Allegion's shares outstanding does this sale represent?

Roughly 0.0045% of the 85.8 million shares outstanding.

Which broker will execute the sale of ALLE shares?

The shares will be sold through UBS Financial Services Inc.

What was the source of the shares being sold?

They were acquired via option exercise and RSU/PSU vesting events between 2021-2025.