What the executives and directors of Brown–Forman actually did with their own shares, decoded from three years of SEC Form 4 filings.
The tape: three years of insider trades
Every marker sits at the exact price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the gray strip is routine flow (vestings, tax withholding, gifts) that headlines love to miscount as selling.
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
Skin in the game
Directly held shares as reported after each trade, indexed to 100 five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m |
|---|---|---|---|---|
| Brown Stuart R | Director | 795.5K | — | — |
| Musselman William Austin Jr | Director | 771K | — | — |
| Brown Campbell P | Director | 570.9K | — | — |
| Whiting Lawson E President & CEO | CEO | 43.4K | — | $1.5M |
| Hamel Matthew E EVP and General Counsel | Officer | 31.4K | — | — |
| Brown Elizabeth M | Director | 17.1K | — | — |
| Hawley Kirsten M EVP, Chief Ppl/Places/Comm | Officer | 11.7K | — | — |
| Farrer Marshall | Director | 8,113 | — | — |
| Hinrichs Thomas Pres., International Division | Officer | 6,819 | — | — |
| Nall Timothy M EVP, Chief Supp/Tech | Officer | 4,115 | — | — |
| Shepherd Jeremy J EVP, Chief Marketing | Officer | 3,567 | — | — |
| Cunningham Leanne D EVP, Chief Financial Officer | CFO | 3,549 | — | — |
| Graven Christina M EVP, Chief Strategy | Officer | 2,469 | — | — |
| Bentel Matias EVP, Chief Brands Officer | Officer | 2,244 | — | — |
Open-market trade log
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-02-12 | Whiting Lawson E (CEO) | Planned sale (10b5-1) | 25.9K | $31.01 | $804K |
| 2025-12-12 | Whiting Lawson E (CEO) | Planned sale (10b5-1) | 8,834 | $31.00 | $274K |
| 2025-12-04 | Whiting Lawson E (CEO) | Planned sale (10b5-1) | 4,785 | $31.00 | $148K |
| 2025-12-04 | Whiting Lawson E (CEO) | Planned sale (10b5-1) | 7,746 | $31.01 | $240K |
| 2025-07-23 | Whiting Lawson E (CEO) | Planned sale (10b5-1) | 23.6K | $31.00 | $733K |
| 2023-06-30 | Holland Augusta Brown (Director) | Discretionary sale | 150 | $66.96 | $10K |
| 2023-06-22 | Hawley Kirsten M (Officer) | Discretionary sale | 2,402 | $66.54 | $160K |
| 2023-03-28 | Shepherd Jeremy J (Officer) | Discretionary sale | 473 | $63.16 | $30K |
| 2021-09-10 | Nall Timothy M (Officer) | Discretionary sale | 3,769 | $72.06 | $272K |
| 2021-09-09 | Hamel Matthew E (Officer) | Open-market buy | 101 | $66.41 | $7K |
| 2021-09-09 | Hamel Matthew E (Officer) | Open-market buy | 188 | $71.38 | $13K |
| 2021-09-09 | Hamel Matthew E (Officer) | Open-market buy | 222 | $66.44 | $15K |
| 2021-09-09 | Hamel Matthew E (Officer) | Open-market buy | 332 | $71.37 | $24K |
| 2021-09-09 | Hamel Matthew E (Officer) | Open-market buy | 348 | $71.38 | $25K |
| 2021-09-09 | Hamel Matthew E (Officer) | Open-market buy | 350 | $71.38 | $25K |
| 2021-07-01 | Hawley Kirsten M (Officer) | Discretionary sale | 7,873 | $74.65 | $588K |
| 2021-03-15 | Alvarez Alejandro A (Officer) | Discretionary sale | 5,379 | $72.23 | $389K |
| 2021-01-04 | MORREAU JANE C (CFO) | Discretionary sale | 12.5K | $78.75 | $986K |
| 2020-10-14 | de Chabert Ralph E (Officer) | Discretionary sale | 1,613 | $78.17 | $126K |
| 2020-10-07 | de Chabert Ralph E (Officer) | Discretionary sale | 695 | $69.68 | $48K |
| 2020-09-15 | Brown Kelli (Officer) | Discretionary sale | 899 | $78.97 | $71K |
| 2020-09-09 | BOUSQUET CHAVANNE PATRICK (Director) | Discretionary sale | 6,250 | $80.00 | $500K |
| 2020-09-08 | Hamel Matthew E (Officer) | Open-market buy | 264 | $72.95 | $19K |
| 2020-09-08 | Hamel Matthew E (Officer) | Open-market buy | 813 | $79.87 | $65K |
| 2020-07-01 | Hawley Kirsten M (Officer) | Discretionary sale | 3,562 | $64.18 | $229K |
| 2020-01-10 | de Chabert Ralph E (Officer) | Discretionary sale | 598 | $67.70 | $40K |
| 2020-01-09 | Cook John D. (Director) | Discretionary sale | 3,400 | $67.31 | $229K |
| 2020-01-09 | Hayes John V. (Officer) | Discretionary sale | 3,628 | $67.32 | $244K |
| 2020-01-02 | MORREAU JANE C (CFO) | Discretionary sale | 16.4K | $67.30 | $1.1M |
| 2019-09-12 | McCallum Mark I (Officer) | Discretionary sale | 44.6K | $65.61 | $2.9M |
| 2019-09-04 | Hinrichs Thomas (Officer) | Discretionary sale | 1,434 | $59.25 | $85K |
| 2019-09-04 | Hinrichs Thomas (Officer) | Discretionary sale | 10.6K | $60.57 | $640K |
| 2019-09-03 | Hamel Matthew E (Officer) | Open-market buy | 265 | $57.87 | $15K |
| 2019-09-03 | Hamel Matthew E (Officer) | Open-market buy | 685 | $59.19 | $41K |
| 2019-07-02 | Hayes John V. (Officer) | Discretionary sale | 1,770 | $56.51 | $100K |
| 2019-01-02 | MORREAU JANE C (CFO) | Discretionary sale | 14.7K | $46.52 | $685K |
| 2018-12-21 | Keyes Mike J. (Officer) | Discretionary sale | 167 | $46.24 | $8K |
| 2018-12-21 | Keyes Mike J. (Officer) | Discretionary sale | 3,111 | $46.19 | $144K |
| 2018-09-04 | Hamel Matthew E (Officer) | Open-market buy | 705 | $53.13 | $37K |
| 2018-09-04 | Hamel Matthew E (Officer) | Open-market buy | 990 | $52.54 | $52K |
| 2018-06-19 | Hinrichs Thomas (Officer) | Discretionary sale | 3 | $52.83 | $172 |
| 2018-06-19 | Hinrichs Thomas (Officer) | Discretionary sale | 6 | $51.12 | $325 |
| 2018-06-19 | Hinrichs Thomas (Officer) | Discretionary sale | 28 | $52.83 | $1K |
| 2018-06-19 | Hinrichs Thomas (Officer) | Discretionary sale | 36 | $51.12 | $2K |
| 2018-01-05 | Hawley Kirsten M (Officer) | Discretionary sale | 3,809 | $67.82 | $258K |
| 2018-01-05 | Masick Michael Andrew (Officer) | Discretionary sale | 141 | $68.03 | $10K |
| 2018-01-05 | Masick Michael Andrew (Officer) | Discretionary sale | 343 | $67.94 | $23K |
| 2018-01-02 | MORREAU JANE C (CFO) | Discretionary sale | 11.2K | $67.41 | $756K |
| 2018-01-02 | Cook John D. (Director) | Discretionary sale | 6,653 | $67.71 | $450K |
| 2018-01-02 | Hayes John V. (Officer) | Discretionary sale | 1,579 | $67.71 | $107K |
| 2017-12-11 | McCallum Mark I (Officer) | Discretionary sale | 33.1K | $65.85 | $2.2M |
| 2017-10-23 | Hayes John V. (Officer) | Discretionary sale | 9,742 | $56.08 | $546K |
| 2017-09-06 | Hamel Matthew E (Officer) | Open-market buy | 133 | $53.93 | $7K |
| 2017-09-06 | Hamel Matthew E (Officer) | Open-market buy | 250 | $56.37 | $14K |
| 2017-04-07 | de Chabert Ralph E (Officer) | Discretionary sale | 1,760 | $45.53 | $80K |
| 2017-03-24 | Steiner Lisa P (Officer) | Discretionary sale | 4,630 | $47.42 | $220K |
| 2017-03-10 | McCallum Mark I (Officer) | Discretionary sale | 14.8K | $46.49 | $686K |
| 2017-03-10 | McCallum Mark I (Officer) | Discretionary sale | 17.9K | $47.47 | $848K |
| 2017-03-10 | Whiting Lawson E (Officer) | Discretionary sale | 6,723 | $46.52 | $313K |
| 2017-01-13 | Jones Jill Ackerman (Officer) | Discretionary sale | 10.5K | $43.92 | $462K |
“Since trade” compares with the latest insider-implied price, not a market quote; this site carries no market data by design.
Filing hygiene
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.