William A. Newlands - 10 May 2024 Form 4 Insider Report for CONSTELLATION BRANDS, INC. (STZ)

Role: President & CEO, Director
Signature: /s/ Brian Bennett, Attorney-in-fact
Issuer symbol: STZ
Transactions as of: 10 May 2024
Net transactions value: -$2,713,063
Form type: 4
Filing time: 14 May 2024, 16:32:29 UTC
Previous filing: 03 May 2024
Next filing: 02 Oct 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	STZ	Class A Common Stock	Conversion of derivative security		+25,000	+170%		39,700	10 May 2024	Direct	F1
transaction	STZ	Class A Common Stock	Sale	$4,916,767	-18,811	-47%	$261.38	20,889	10 May 2024	Direct	F2
transaction	STZ	Class A Common Stock	Sale	$1,621,797	-6,189	-30%	$262.04	14,700	10 May 2024	Direct	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	STZ	Non-Qualified Stock Option (right to buy)	Options Exercise	$0	-25,000	-25%	$0.000000	76,208	10 May 2024	Class 1 (convertible) Common Stock	25,000	$153.02	Direct	F4
transaction	STZ	Class 1 (convertible) Common Stock	Options Exercise	$3,825,500	+25,000		$153.02	25,000	10 May 2024	Class A Common Stock	25,000		Direct	F5
transaction	STZ	Class 1 (convertible) Common Stock	Conversion of derivative security	$0	-25,000	-100%	$0.000000^*	0	10 May 2024	Class A Common Stock	25,000		Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reported shares of Class A Common Stock were received upon the conversion of shares of Class 1 Common Stock on a one-to-one basis.
F2	Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $260.7530 to $261.7400, inclusive. Upon request by the Commission staff, the issuer, or a security holder of the issuer, the reporting person will provide full information regarding the number of shares sold at each separate price.
F3	Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $261.7550 to $262.1550, inclusive. Upon request by the Commission staff, the issuer, or a security holder of the issuer, the reporting person will provide full information regarding the number of shares sold at each separate price.
F4	100% of this option has become exercisable.
F5	Shares of Class 1 Common Stock are convertible into shares of Class A Common Stock of the issuer on a one-to-one basis. In accordance with the certificate of incorporation of Constellation Brands, Inc., any shares of Class A Common Stock issued upon conversion of shares of Class 1 Common Stock must be sold immediately in connection with the conversion. Class 1 Common Stock is not traded on any stock exchange.