CONSTELLATION BRANDS, INC. — Director's Dealing 2011

Feb 23, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ/STZ.B)
CIK: 0000016918
Period of Report: 2011-02-18

Reporting Person: RYDER ROBERT P (Executive VP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-18	Class A Common Stock	C	59923	—	Acquired	125673	Direct
2011-02-18	Class A Common Stock	S	59923	$21.0179	Disposed	65750	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-18	Non-Qualified Stock Option (right to buy)	$11.85	M	59923	Disposed	2019-04-06	Class 1 Common Stock (59923)	Direct
2011-02-18	Class 1 (convertible) Common Stock	$	M	59923	Acquired		Class A Common Stock (59923)	Direct
2011-02-18	Class 1 (convertible) Common Stock	$	C	59923	Disposed		Class A Common Stock (59923)	Direct

Footnotes

F1: Includes shares of Class A Common Stock acquired in July 2010 and January 2011 under the Constellation Brands, Inc. 1989 Employee Stock Purchase Plan.

F2: Represents the weighted average sale price. The sale price range is $20.97 to $21.04. 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: This option becomes exercisable at the rate of 25% per year beginning on the date specified.

F4: 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 connection with the holder's sale of the shares of Class A Common Stock received upon the conversion. Class 1 Common Stock is not traded on any stock exchange.