SEC FORM 4

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Bourdeau James O.

(Last)

(First)

(Middle)

C/O CONSTELLATION BRANDS, INC.

207 HIGH POINT DRIVE, BUILDING 100

(Street)

VICTOR

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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP & Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/03/2023

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	08/03/2023		C		30,723	A	⁽¹⁾	36,233⁽²⁾	D
Class A Common Stock	08/03/2023		S		30,723	D	$269	5,500	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Qualified Stock Option (right to buy)	$156.84	08/03/2023		M			4,554	04/25/2017⁽³⁾	04/25/2026	Class 1 (convertible) Common Stock	4,554	$0	0	D
Non-Qualified Stock Option (right to buy)	$172.09	08/03/2023		M			4,487	04/21/2018⁽³⁾	04/21/2027	Class 1 (convertible) Common Stock	4,487	$0	0	D
Non-Qualified Stock Option (right to buy)	$228.26	08/03/2023		M			9,037	04/23/2019⁽³⁾	04/23/2028	Class 1 (convertible) Common Stock	9,037	$0	0	D
Non-Qualified Stock Option (right to buy)	$207.48	08/03/2023		M			12,645	04/23/2020⁽³⁾	04/23/2029	Class 1 (convertible) Common Stock	12,645	$0	0	D
Class 1 (convertible) Common Stock	⁽⁴⁾	08/03/2023		M		4,554		⁽⁴⁾	⁽⁴⁾	Class A Common Stock	4,554	$156.84	4,554	D
Class 1 (convertible) Common Stock	⁽⁴⁾	08/03/2023		M		4,487		⁽⁴⁾	⁽⁴⁾	Class A Common Stock	4,487	$172.09	4,487	D
Class 1 (convertible) Common Stock	⁽⁴⁾	08/03/2023		M		9,037		⁽⁴⁾	⁽⁴⁾	Class A Common Stock	9,037	$228.26	9,037	D
Class 1 (convertible) Common Stock	⁽⁴⁾	08/03/2023		M		12,645		⁽⁴⁾	⁽⁴⁾	Class A Common Stock	12,645	$207.48	12,645	D
Class 1 (convertible) Common Stock	⁽⁴⁾	08/03/2023		C			30,723	⁽⁴⁾	⁽⁴⁾	Class A Common Stock	30,723	$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. Includes shares of Class A Common Stock acquired in July 2023 under the Constellation Brands, Inc. 1989 Employee Stock Purchase Plan.

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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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