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

Rhea-AI Filing Summary

Constellation Brands, Inc. (STZ) – Form 4 insider filing dated 07/14/2025

Non-Executive Chair and Director Christopher J. Baldwin reported the vesting and settlement of 503 Restricted Stock Units (RSUs) on 07/10/2025 (transaction code M). Each RSU converted into one share of Class A common stock at no cost, increasing his directly owned stake to 2,711 shares.

Indirect holdings remain unchanged at 32 shares (15 held by his spouse and 17 held in two family trusts). All previously outstanding RSUs involved in this filing were fully settled, leaving zero derivative securities outstanding for Baldwin.

• No open-market purchase or sale was disclosed; the activity reflects routine equity compensation vesting.
• The transaction does not affect company operations or financials, but modestly aligns board leadership incentives with shareholder value through additional share ownership.

Positive

• Increase in insider ownership: Chair Christopher J. Baldwin’s direct stake rose by 503 shares to 2,711, modestly enhancing alignment with shareholders.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine RSU vesting – 503 shares added; negligible impact on STZ valuation.

Mr. Baldwin’s Form 4 shows settlement of 503 RSUs into common stock, boosting his direct stake to 2,711 shares. The code M classification confirms a conversion of previously granted equity, not an open-market purchase, so cash outlay and market-signal value are limited. Aggregate ownership—including spouse and trusts—totals 2,743 shares, still immaterial versus STZ’s ~192 m outstanding shares. The filing has no balance-sheet effect and does not alter governance structure, but it modestly tightens alignment of the chair’s incentives with shareholders. Overall investor impact is neutral.

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^*

Baldwin Christopher 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)	X	Other (specify below)
			Non-Exec Chair of the Board

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)	2,711	D
Class A Common Stock								15	I	By Spouse
Class A Common Stock								17	I	By Family Trusts(2)

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(3)	(3)	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. Thirteen shares of Class A Common Stock are held by the B.F. 2023 Trust and four shares of Class A Common Stock are held by the L.B.B. Qualified Personal Residence Trust. These shares are held for the benefit of the reporting person's children. The reporting person's spouse is the trustee of the trusts.

3. 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:

	/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.