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CONSTELLATION BRANDS, INC. Director's Dealing 2011

May 9, 2011

30189_dirs_2011-05-09_04b15a6e-c232-4225-aba7-7b591f7d611c.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ)
CIK: 0000016918
Period of Report: 2011-05-05

Reporting Person: HETTERICH F PAUL (Executive VP)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-05-05 Class A Common Stock C 49843.0000 Acquired 124208.0000 Direct
2011-05-05 Class A Common Stock M 35700.0000 $16.6300 Acquired 159908.0000 Direct
2011-05-05 Class A Common Stock S 35700.0000 $22.5290 Disposed 124208.0000 Direct
2011-05-05 Class A Common Stock S 49843.0000 $22.5290 Disposed 74365.0000 Direct
2011-05-06 Class A Common Stock M 10900.0000 $16.6300 Acquired 85265.0000 Direct
2011-05-06 Class A Common Stock S 10900.0000 $22.6050 Disposed 74365.0000 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2011-05-05 Class 1 (convertible) Common Stock $ M 49843.0000 Acquired Class A Common Stock (49843.0000) Direct
2011-05-05 Class 1 (convertible) Common Stock $ C 49843.0000 Disposed Class A Common Stock (49843.0000) Direct
2011-05-05 Non-Qualified Stock Option (right to buy) $11.8500 M 49843.0000 Disposed 2019-04-06 Class 1 Common Stock (49843.0000) Direct
2011-05-05 Non-Qualified Stock Option (right to buy) $16.6300 M 35700.0000 Disposed 2014-04-06 Class A Common Stock (35700.0000) Direct
2011-05-06 Non-Qualified Stock Option (right to buy) $16.6300 M 10900.0000 Disposed 2014-04-06 Class A Common Stock (10900.0000) Direct

Footnotes

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 $22.500 to $22.610, 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 $22.590 to $22.610, 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: Shares of Class 1 Common Stock are convertible to shares of Class A Common Stock of the Issuer on a one-to-one basis in connection with the holders' sale of the shares of Class A Common Stock received upon the conversion. Class 1 Common Stock is not traded on any stock exchange.

F5: This option becomes exercisable at the rate of 25% per year beginning on the date specified.

F6: 100% of this option has become exercisable.