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BF-B > SEC Filings for BF-B > Form 8-K on 18-Dec-2013All Recent SEC Filings

Show all filings for BROWN FORMAN CORP



Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 18, 2013, Brown-Forman Corporation (the "Company") announced the promotion of Alejandro (Alex) Alvarez to the position of Senior Vice President and Chief Production Officer, effective February 1, 2014. Mr. Alvarez, 45, has served as Vice President, General Manager of Tequila and Wine Operations since June 2013. Prior to that time, he served as General Manager of Brown-Forman Tequila Mexico Operations from November 2008 to June 2013 and Director of Louisville Production Operations from March 2007 to November 2008.

In connection with his promotion, Mr. Alvarez's compensation will increase, effective February 1, 2014, as follows: annual salary, including holiday bonus, will increase to $309,375; and short-term and long-term incentive compensation opportunities at target will increase to $175,000 and $150,000, respectively. Mr. Alvarez's long-term incentive compensation opportunity will be allocated among long-term cash and Class B common performance-based equity.

A more detailed description of the compensation the Company pays its executives is included in the "Executive Compensation" section of the Company's Proxy Statement filed with the Securities and Exchange Commission on June 27, 2013, which description is incorporated herein by reference. There are no related party transactions involving Mr. Alvarez that are reportable under Item 404(a) of Regulation S-K.

A copy of the press release announcing Mr. Alvarez's promotion is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description
99.1 Brown-Forman Corporation Press Release dated December 18, 2013.

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