CONSTELLATION BRANDS, INC. — Director's Dealing 2020

Jul 24, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CONSTELLATION BRANDS, INC. (STZ)
CIK: 0000016918
Period of Report: 2020-07-21

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-07-21	Class A Common Stock	C	151404	—	Acquired	301280	Direct
2020-07-21	Class A Common Stock	S	114511	$180.7317	Disposed	186769	Direct
2020-07-21	Class A Common Stock	S	19331	$181.9818	Disposed	167438	Direct
2020-07-21	Class A Common Stock	S	10658	$182.869	Disposed	156780	Direct
2020-07-21	Class A Common Stock	S	6904	$183.5805	Disposed	149876	Direct
2020-07-22	Class A Common Stock	C	184489	—	Acquired	334365	Direct
2020-07-22	Class A Common Stock	S	63821	$180.3929	Disposed	270544	Direct
2020-07-22	Class A Common Stock	S	120668	$179.5009	Disposed	149876	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-07-21	Non-Qualified Stock Option (right to buy)	$20.6	M	151404	Disposed	2021-04-05	Class 1 (convertible) Common Stock (151404.0)	Direct
2020-07-21	Class 1 (convertible) Common Stock	$	M	151404	Acquired		Class A Common Stock (151404.0)	Direct
2020-07-21	Class 1 (convertible) Common Stock	$	C	151404	Disposed		Class A Common Stock (151404.0)	Direct
2020-07-22	Non-Qualified Stock Option (right to buy)	$20.6	M	184489	Disposed	2021-04-05	Class 1 (convertible) Common Stock (184489.0)	Direct
2020-07-22	Class 1 (convertible) Common Stock	$	M	184489	Acquired		Class A Common Stock (184489.0)	Direct
2020-07-22	Class 1 (convertible) Common Stock	$	C	184489	Disposed		Class A Common Stock (184489.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	5483842	Indirect
Class A Common Stock	15720	Indirect

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 $180.3100 to $181.3030, 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: Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $181.3200 to $182.2300, 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.

F4: Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $182.3570 to $183.3420, 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.

F5: Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $183.3840 to $183.9700, 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.

F6: Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $180.0000 to $181.0000, 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.

F7: Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $179.0400 to $180.0000, 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.

F8: 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.

F9: RRA&Z Holdings LLC ("RRA&Z") is the sole member of WildStar Partners LLC ("WildStar"). WildStar holds a 0.045% co-general partner interest in various Sands family limited partnerships. The reporting person is a member and co-manager of RRA&Z.

F10: 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.

F11: 100% of this option has become exercisable.

F12: 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.