CONSTELLATION BRANDS, INC. — Director's Dealing 2018

Apr 30, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ)
CIK: 0000016918
Period of Report: 2018-04-26

Reporting Person: STERN ZACHARY M (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-04-26	Class A Common Stock	J	61144.0000	—	Disposed	1190908.0000	Indirect
2018-04-26	Class A Common Stock	J	183432.0000	—	Acquired	183432.0000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-04-26	Class B (convertible) Common Stock	$	J	61144.0000	Acquired		Class A Common Stock (61144.0000)	Indirect
2018-04-26	Class B (convertible) Common Stock	$	J	183432.0000	Disposed		Class A Common Stock (183432.0000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	33415.0000	Direct

Footnotes

F1: On April 26, 2018, A&Z 2015 Business Holdings LP ("A&Z Holdings") and two other affiliated limited partnerships, each exchanged, on a one-for-one basis, 61,144 shares of Class A Common Stock for 61,144 shares of Class B Common Stock with MAS Business Holdings LP ("MAS Holdings").

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: Held by A&Z Holdings. A&Z 2015 business Management LLC ("A&Z Management") is a co-general partner of A&Z Holdings, holding a .0249% general partner interest. The reporting person indirectly holds limited partner interests in A&Z Holdings and is a member of A&Z Management.

F4: MAS Holdings is a limited partnership and MAS Business Management LLC ("MAS Management") is its co-general partner. MAS Management holds a .0319% general partner interest in MAS Holdings. Abby & Zach Holdings LLC ("Abby & Zach Holdings") holds a 33.3% interest in MAS Management. The reporting person is a member and co-manager of Abby & Zach Holdings.

F5: 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.