CONSTELLATION BRANDS, INC. — Director's Dealing 2015

Jan 22, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ)
CIK: 0000016918
Period of Report: 2015-01-21

Reporting Person: SANDS RICHARD (Director, Chairman of the Board, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-18	Class A Common Stock	G	7780.0000	$0.0000	Disposed	331725.0000	Direct
2015-01-21	Class A Common Stock	M	156200.0000	$27.2350	Acquired	487925.0000	Direct
2015-01-21	Class A Common Stock	S	156200.0000	$110.6644	Disposed	331725.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-01-21	Non-Qualified Stock Option (right to buy)	$27.2350	M	156200.0000	Disposed	2015-04-07	Class A Common Stock (156200.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	471608.0000	Indirect
Class A Common Stock	768.0000	Indirect
Class A Common Stock	15720.0000	Indirect

Footnotes

F1: Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $110.0000 to $111.2500, 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.

F2: Except to the extent that the reporting person has a direct or indirect pecuniary interest in securities owned by the applicable trust, partnership or limited liability company, the reporting person disclaims beneficial ownership with respect to securities held in this manner. This report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 or any other purpose.

F3: CWC Partnership I is a general partnership of which the reporting person is a managing partner and in which he has a pecuniary interest.

F4: M, L, R & R ("MLR&R") is a general partnership of which the reporting person is a general partner and in which he has a pecuniary interest. The reporting person is a beneficiary and trustee of The Marvin Sands Master Trust, which is also a partner in MLR&R.

F5: The reporting person disclaims beneficial ownership with respect to securities held in this manner, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 or any other purpose.

F6: 100% of this option has become exercisable.