Brown-Forman Corp. 8-K Summary (10/31/2025)

Brown-Forman adopted the Executive Change in Control Severance Plan effective October 31, 2025.

• Purpose: To attract/retain key talent during potential Change in Control (CIC) periods.
• Participants: Executive leadership team, including Named Executive Officers.
• Trigger: Involuntary termination (Qualifying Termination) during the 30-day pre/24-month post-CIC window.

Severance Multiples:

• CEO: 3.0x salary + bonus opportunity.
• Other Executives: 2.0x salary + bonus opportunity.

Benefits include: 18 months COBRA cov