SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person* Hernandez Ernesto M (Last) (First) (Middle) C/O CONSTELLATION BRANDS, INC. 207 HIGH POINT DRIVE, BUILDING 100 (Street) VICTOR NY 14564 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol CONSTELLATION BRANDS, INC. [ STZ ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 08/04/2023
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/04/2023		C		5,086	A	(1)	8,735	D
Class A Common Stock	08/04/2023		S		5,086	D	$268.9975(2)	3,649	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Option (right to buy)	$87.13	08/04/2023		M			1,606	01/23/2015(3)	07/23/2024	Class 1 (convertible) Common Stock	1,606	$0	0	D
Non-Qualified Stock Option (right to buy)	$119.37	08/04/2023		M			1,172	01/22/2016(3)	07/22/2025	Class 1 (convertible) Common Stock	1,172	$0	0	D
Non-Qualified Stock Option (right to buy)	$166.34	08/04/2023		M			1,267	01/20/2017(3)	07/20/2026	Class 1 (convertible) Common Stock	1,267	$0	0	D
Non-Qualified Stock Option (right to buy)	$197.18	08/04/2023		M			1,041	01/18/2018(3)	07/18/2027	Class 1 (convertible) Common Stock	1,041	$0	0	D
Class 1 (convertible) Common Stock	(4)	08/04/2023		M		1,606		(4)	(4)	Class A Common Stock	1,606	$87.13	1,606	D
Class 1 (convertible) Common Stock	(4)	08/04/2023		M		1,172		(4)	(4)	Class A Common Stock	1,172	$119.37	1,172	D
Class 1 (convertible) Common Stock	(4)	08/04/2023		M		1,267		(4)	(4)	Class A Common Stock	1,267	$166.34	1,267	D
Class 1 (convertible) Common Stock	(4)	08/04/2023		M		1,041		(4)	(4)	Class A Common Stock	1,041	$197.18	1,041	D
Class 1 (convertible) Common Stock	(4)	08/04/2023		C			5,086	(4)	(4)	Class A Common Stock	5,086	$0	0	D

Explanation of Responses:

1. 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.

2. Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $268.9800 to $269.0400, 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.

3. 100% of this option has become exercisable.

4. Shares of Class 1 Common Stock are convertible into shares of Class A Common Stock of the issuer on a one-to-one basis. In accordance with the certificate of incorporation of Constellation Brands, Inc., any shares of Class A Common Stock issued upon conversion of shares of Class 1 Common Stock must be sold immediately in connection with the conversion. Class 1 Common Stock is not traded on any stock exchange.

Remarks:

	/s/ Brian S. Bennett, Attorney-in-fact	08/07/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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