This horse, Ponder, also has the same effect, and is bay.
If the horse in question were to be shed out he would like like the two above horses.
The USTA has both bay and brown in their registry as separate genetic colors.
This horse Striking Sahbra, is a Brown Standardbred.
Here are some foals sporting the two different sades. This one Bay, will get darker after his foal fuzz sheds to look like the top two, and This one a striking brown Brown will look like Sahbra when he ages.