CONSTELLATION BRANDS, INC. — Director's Dealing 2016

May 20, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ)
CIK: 0000016918
Period of Report: 2016-05-19

Reporting Person: WANDELL KEITH E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-19	Class A Common Stock	C	6517.0000	—	Acquired	14612.0000	Direct
2016-05-19	Class A Common Stock	S	6517.0000	$155.1142	Disposed	8095.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-19	Class 1 (convertible) Common Stock	$	M	6517.0000	Acquired		Class A Common Stock (6517.0000)	Direct
2016-05-19	Class 1 (convertible) Common Stock	$	C	6517.0000	Disposed		Class A Common Stock (6517.0000)	Direct
2016-05-19	Non-Qualified Stock Option (right to buy)	$21.4800	M	6517.0000	Disposed	2021-07-21	Class 1 Common Stock (6517.0000)	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 $155.00 to $155.28, 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: 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.

F4: 100% of this option has become exercisable.