CONSTELLATION BRANDS, INC. — Director's Dealing 2016

Nov 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ)
CIK: 0000016918
Period of Report: 2016-11-22

Reporting Person: STERN ZACHARY M (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-11-22	Class A Common Stock	J	1252052.0000	—	Disposed	1252052.0000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-11-22	Class B (convertible) Common Stock	$	J	8012712.0000	Disposed		Class A Common Stock (8012712.0000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	33415.0000	Direct
Class A Common Stock	331674.0000	Indirect

Footnotes

F1: On November 22, 2016, WildStar Partners LLC acquired a 0.045% general partner interest in A&Z 2015 Business Holdings LP ("A&Z Holdings") and became a co-general partner of A&Z Holdings with A&Z 2015 Business Management LLC ("A&Z Management"). A&Z Management's ownership interest in A&Z Holdings was reduced from 0.025% to 0.0249% as a result of the transaction. The reporting person indirectly holds limited partner interests in A&Z Holdings and is a member of A&Z Management.

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: The reporting person is a trustee of the Marilyn Sands Master Trust. Except to the extent that the reporting person has a direct or indirect pecuniary interest in securities owned by the trust, 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.

F4: Shares of Class B Common Stock are convertible into shares of Class A Common Stock of the Issuer on a one-to-one basis at any time at the option of the holder. The ticker symbol for Class B Common Stock is STZ.B.