FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * STUBBS DACE BROWN   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) (Last) (First) (Middle) 850 DIXIE HIGHWAY 3. Date of Earliest Transaction (Month/Day/Year) 03/21/2011 (Street) LOUISVILLE, KY 40210 4. If Amendment, Date 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 (City) (State) (Zip) 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 Class A Common               2,000 D   Class A Common               2,885,323 I Log House Partners Ltd. Class B Common 03/21/2011   M   6,715 A $ 26.29 10,936 D   Class B Common 03/21/2011   F   2,656 D $ 66.49 8,280 D   Class B Common 03/21/2011   S   4,059 D $ 67.79 (1) 4,221 D   Class B Common               721,330 I Log House Partners Ltd.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities (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 of Derivative Security: 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

Non-Qualified Stock Option (right to buy) (2)

$ 26.29 (3)

03/21/2011

M

6,715

07/31/2001

04/30/2011

Class B Common

6,715 (3)

$ 0

0

D

Non-Qualified Stock Option (right to buy) (2)

$ 24.7 (4)

05/01/2002

04/30/2012

Class B Common

4,085 (4)

4,085 (4)

D

Non-Qualified Stock Option (right to buy) (2)

$ 30.18 (5)

05/01/2003

04/30/2013

Class B Common

3,923 (5)

3,923 (5)

D

Non-Qualified Stock Option (right to buy) (3)

$ 35.83 (6)

07/22/2004

04/30/2014

Class B Common

3,053 (6)

3,053 (6)

D

Stock Appreciation Rights (2)

$ 45.53 (7)

07/28/2005

04/30/2015

Class B Common

3,550 (7)

3,550 (7)

D

Stock Appreciation Right (2)

$ 55.69 (8)

07/27/2006

04/30/2016

Class B Common

3,023 (8)

3,023 (8)

D

Stock Appreciation Right (2)

$ 53.8 (9)

07/26/2007

04/30/2017

Class B Common

3,756 (9)

3,756 (9)

D

Stock Appreciation Right (2)

$ 56.58 (10)

07/24/2008

04/30/2018

Class B Common

3,447 (10)

3,447 (10)

D

Stock Appreciation Right (2)

$ 43.1 (11)

07/23/2009

04/30/2019

Class B Common

4,236 (11)

4,236 (11)

D

Deferred Stock Unit

(12)

(13)

(13)

Class B Common

1,003.94

1,003.94

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
STUBBS DACE BROWN 850 DIXIE HIGHWAY LOUISVILLE, KY 40210	X

Signatures

Diane M. Barhorst, Atty. in Fact for: Dace Brown Stubbs		03/23/2011
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Price reported is the weighted average price. These shares were sold in multiple transactions at prices ranging from $66.77 to $67.82, inclusive. The reporting person undertakes to provide to Brown-Forman Corporation, any security holder of Brown-Forman Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within this range.
(2)	All outstanding derivative security amounts and exercise prices were adjusted on December 10, 2010, the record date for the Issuer's December 28, 2010 special cash dividend.
(3)	These options were previously reported as covering 6,619 shares at an exercise price of $26.29 per share, but were adjusted to reflect the December 28, 2010 special cash dividend.
(4)	These options were previously reported as covering 4,027 shares at an exercise price of $25.06 per share, but were adjusted to reflect the December 28, 2010 special cash dividend.
(5)	These options were previously reported as covering 3,867 shares at an exercise price of $30.62 per share, but were adjusted to reflect the December 28, 2010 special cash dividend.
(6)	These options were previously reported as covering 3,009 shares at an exercise price of $36.35 per share, but were adjusted to reflect the December 28, 2010 special cash dividend.
(7)	These stock appreciation rights were previously reported as covering 3,499 shares at an exercise price of $46.19 per share, but were adjusted to reflect the December 28, 2010 special cash dividend.
(8)	These stock appreciation rights were previously reported as covering 2,980 shares at an exercise price of $56.50 per share, but were adjusted to reflect the December 28, 2010 special cash dividend.
(9)	These stock appreciation rights were previously reported as covering 3,702 shares at an exercise price of $54.58 per share, but were adjusted to reflect the December 28, 2010 special cash dividend.
(10)	These stock appreciation rights were previously reported as covering 3,398 shares at an exercise price of $57.40 per share, but were adjusted to reflect the December 28, 2010 special cash dividend.
(11)	These stock appreciation rights were previously reported as covering 4,175 shares at an exercise price of $43.72 per share, but were adjusted to reflect the December 28, 2010 special cash dividend.
(12)	Each deferred stock unit represents a contingent right to receive one share of Brown-Forman Class B common stock.
(13)	The deferred stock units vest over the course of the Board year. Vested shares will be delivered to the reporting person on the first February 1st that is at least 6 months following the Director's termination from Board service.

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