[Form 4] Brown-Forman Corporation Insider Trading Activity

Rhea-AI Filing Summary

Form 4 discloses that AEye (LIDR) director Luis Dussan sold a total of 6,000 Class A common shares on 24 Jul 2025 at an average price of $4.00 per share. The shares were disposed through two family trusts—Luis Dussan Trust A and Jennifer Dussan Trust A—under a Rule 10b5-1 trading plan adopted 13 Jun 2024.

After the transactions, Dussan’s beneficial ownership comprises 238,832 shares (Luis Dussan Trust A), 30,000 shares (Jennifer Dussan Trust A), 12,402 shares (Family Trust), and a direct holding of 3,493 shares, totaling 284,727 shares. The sale represents roughly 2 % of his reported holdings. No derivative securities were traded or reported.

Insights

Securities Analyst

TL;DR Small 6 k-share insider sale (~2 % of holdings) via 10b5-1 plan; neutral to mildly negative signal.

The modest disposition does not materially alter Luis Dussan’s ownership (≈285 k shares remain). Because the trades were executed under a pre-arranged Rule 10b5-1 plan, information-advantage concerns are limited. Volume and value (~$24 k) are immaterial relative to AEye’s float, so market impact should be negligible. Insider sales can indicate sentiment, but the fractional size suggests routine liquidity rather than a change in outlook. No derivatives or additional sales reported, keeping risk profile stable.

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^*

Skeans Tracy L

(Last) (First) (Middle)

850 DIXIE HWY

(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	30,415.6627	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 Tracy L. Skeans	07/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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