[Form 4] Constellation Brands, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Live Nation Entertainment (LYV) Form 4 filing: EVP John Hopmans reported an administrative share withholding on 07/11/2025 related to the vesting of restricted stock.

• Transaction code F: 6,071 common shares were withheld by the company at $143.94 per share to satisfy tax obligations. No open-market sale or purchase occurred.
• Post-transaction holding: Hopmans now directly owns 183,385 LYV shares.
• Context: Code F transactions are routine and generally neutral to investor sentiment because they do not reflect discretionary buying or selling decisions by the insider.

The filing indicates continued significant insider ownership with only a modest reduction stemming from tax withholding rather than market activity.

Positive

• None.

Negative

• 6,071 shares (≈3.3% of the executive’s prior direct holdings) were removed from insider ownership, albeit for tax purposes rather than discretionary selling.

Insights

Securities Analyst

TL;DR: Routine tax-withholding; neutral impact on LYV.

The Form 4 shows an executive share withholding (Code F) accompanying restricted stock vesting, reducing holdings by 6,071 shares. Such transactions neither signal confidence nor concern, as no discretionary sale was made. Hopmans still retains a substantial 183k-plus share stake, indicating continued alignment with shareholders. Market impact is expected to be negligible given the small size relative to LYV’s float.

Corporate Governance Expert

TL;DR: Administrative disclosure, no governance red flags.

Code F tax-related withholdings are standard practice to meet payroll-tax obligations upon vesting. The executive’s remaining stake underscores sustained skin-in-the-game. No policy violations or unusual patterns are evident, so the filing is considered routine.

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^*

MCCARTHY DANIEL J

(Last) (First) (Middle)

C/O CONSTELLATION BRANDS, INC.

50 EAST BROAD STREET

(Street)

ROCHESTER NY 14614

(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)
07/10/2025

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	07/10/2025		M		503	A	$0(1)	3,735	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
Restricted Stock Units	(1)	07/10/2025		M			503	07/10/2025(2)	(2)	Class A Common Stock	503	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

2. All of these restricted stock units vest on the date specified. Vested shares will be delivered to the reporting person as of the vesting date.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Matthew Stoloff, Attorney-in-fact	07/14/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What type of transaction did LYV insider John Hopmans report?

A Code F transaction indicating shares were withheld for taxes upon restricted stock vesting.

How many Live Nation shares were involved in the 07/11/2025 transaction?

Exactly 6,071 common shares were withheld.

What price was used for the share withholding in the Form 4?

The shares were valued at $143.94 each for tax purposes.

How many LYV shares does John Hopmans hold after the transaction?

He directly owns 183,385 shares following the withholding.

Does this Form 4 indicate insider buying or selling of LYV stock?

No. Code F reflects non-discretionary tax withholding, not an open-market buy or sell.