STZ insider ownership: who sold, why, and what they still hold

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Garza Madero Director	311	$134.06	9.7%	2.9K	Jul 10, 2026	Jul 14, 2026
Ernesto Hernandez Director	15	$134.06	0.4%	3.7K	Jul 10, 2026	Jul 14, 2026

What stands out

Tax withholding outweighed market sales: the company withheld $1.5M of officers' and directors' shares for taxes, against $1.0M sold on the open market. The largest was Garth Hankinson ($465K withheld).Largest withholding, May 1, 2026

Percentages cover 15 of 21 officers and directors. 6 are left out

Left out: Robert Sands and Richard Sands (most holdings were last confirmed in 2022); James Bourdeau and Samuel Glaetzer (most of their shares vested during the period, so a percentage would mislead); Paula Erickson and Edith Flatley (held no vested shares at the start).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is 100% of that person's own stake; not comparable between people. The stake is the vested shares held at the start of the period (Oct 9, 2025); the gold part is what they sold.

SoldRest of starting stake

James Bourdeau

EVP and Senior Advisor

Sold $631K (plan status beside the amount). That is 33% of the shares held or received (after tax withholding) during the period†. A share of the starting stake is not shown: most of these shares arrived during the period. Why

$631KNo plan disclosed

Ernesto Hernandez

Director

44% · $308KNo plan disclosed

Samuel Glaetzer

EVP & Pres. Wine and Spirits

Sold $85K (plan status beside the amount). That is 11% of the shares held or received (after tax withholding) during the period†. A share of the starting stake is not shown: most of these shares arrived during the period. Why

$85KNo plan disclosed

Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

No plan disclosedOne dollar scale for every month; the tallest bar is labeled

Outside holders, reported separately

WSP Holdings Trust, Robert Sands Master Trust and Richard Sands Master Trust reported no open-market sales in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the Constellation Brands CEO selling stock?

No. William Newlands reported no open-market sales in the past 12 months.

Why are Constellation Brands insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any Constellation Brands insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did Constellation Brands insiders sell?

About 2.3% overall. As a group they ended with more shares than they started with. The biggest seller whose stake can be measured, Ernesto Hernandez, gave up 44% of starting holdings. These figures leave out Robert Sands, the largest holder (most holdings were last confirmed in 2022). That covers the 12 months to Oct 9, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold3 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
James Bourdeau EVP and Senior Advisor	$631K 4.4K shares	33%† i † Most of the shares James Bourdeau sold arrived during the period, so this is shares sold as a share of the 9.4K held at the start plus the 6K received, less 2.1K withheld by the company for taxes.	No plan disclosed
Ernesto Hernandez Director	$308K 2K shares	44%	No plan disclosed
Samuel Glaetzer EVP & Pres. Wine and Spirits	$85K 555 shares	11%† i † Most of the shares Samuel Glaetzer sold arrived during the period, so this is shares sold as a share of the 3.1K held at the start plus the 2.8K received, less 921 withheld by the company for taxes.	No plan disclosed

Outside holder, reported separately: WSP Holdings Trust (a 10% owner, not part of management). No open-market sales reported in the period. Holds 20.43M shares. Latest filing

Outside holder, reported separately: Robert Sands Master Trust (a 10% owner, not part of management). No open-market sales reported in the period. Holds 432K shares. Latest filing

Outside holder, reported separately: Richard Sands Master Trust (a 10% owner, not part of management). No open-market sales reported in the period. Holds 188K shares. Latest filing

The full ownership picture21 of 21 insiders fully reconciled · 21 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider

Held Oct 9, 2025

Sold

Held Oct 9, 2026

Still held

Robert Sands

Most of this insider's holdings were last confirmed in 2022. Confirmed in the last three years: 7,416,222 shares. Not confirmed since: 46,448,479 shares, left out of this row. "Still held" is not shown because it would cover only the smaller, confirmed part.

Director

7.42M

see note

Vesting, gifts, unvested awards and holding lines for Robert Sands

+1.1Kshares vested or exercised

0gifted (net of own trusts)

1.1K → 1.4Kunvested awards, start → end

Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	9,103	9,714
RSS Business Holdings LP	Class A Common Stock	3,876,548	3,876,548
SSR Business Holdings LP	Class A Common Stock	2,164,138	2,164,138
RSS 2015 Business Holdings LP	Class A Common Stock	912,492	912,492
RSS Master LLC	Class A Common Stock	431,729	432,232
PKSDT 2016 STZ LLC	Class A Common Stock	19,329	19,329
Spouse	Class A Common Stock	1,769	1,769

Additional holdings last reported Jul 15, 2022, not confirmed since: 46,448,479 shares. Not included in any total or percentage on this page.

RSS Master LLC, Class 1 (convertible) Common Stock: 1,244,467 shares, last reported Nov 30, 2021
RSS Master Trust, Class A Common Stock: 5,483,842 shares, last reported Jul 24, 2020
Robert Sands Master Trust, Class A Common Stock: 5,300,510 shares, last reported Jul 15, 2022
Remainder Interest, Class A Common Stock: 1,418,860 shares, last reported Sep 12, 2007
M,L,R&R, Class A Common Stock: 668,136 shares, last reported May 12, 2016
LES Holdings LLC, Class A Common Stock: 80,928 shares, last reported Jul 1, 2016
MES Holdings LLC, Class A Common Stock: 73,800 shares, last reported Jul 1, 2016
Direct, Class B (convertible) Common Stock: 1,412,492 shares, last reported Jul 10, 2013
Robert Sands Master Trust, Class B (convertible) Common Stock: 22,746,786 shares, last reported Nov 30, 2021
ct to indirect as a result of his transfer of these 2,000,000 directly owned shares to a qualified grantor retained annuity trust for which he serves as trustee, Class B (convertible) Common Stock: 2,000,000 shares, last reported Apr 1, 2008
RSS 2015 Business Holdings LP, Class B (convertible) Common Stock: 1,412,492 shares, last reported Jan 17, 2018
Robert Sands Children's Trust, Class B (convertible) Common Stock: 1,350,000 shares, last reported Jul 14, 2006
RSS Children's Trust, Class B (convertible) Common Stock: 1,350,000 shares, last reported Apr 11, 2011
RCT 2015 Business Holdings LP, Class B (convertible) Common Stock: 1,350,000 shares, last reported Jan 17, 2018
GRAT, Class B (convertible) Common Stock: 556,166 shares, last reported Dec 20, 2006

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
734	$248.23	Jul 17, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Richard Sands

Most of this insider's holdings were last confirmed in 2022. Confirmed in the last three years: 7,008,902 shares. Not confirmed since: 36,414,666 shares, left out of this row. "Still held" is not shown because it would cover only the smaller, confirmed part.

Director

7.01M

see note

Vesting, gifts, unvested awards and holding lines for Richard Sands

+1.1Kshares vested or exercised

0gifted (net of own trusts)

1.1K → 1.4Kunvested awards, start → end

Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	503	1,114
RES Business Holdings LP	Class A Common Stock	5,066,666	5,066,666
SER Business Holdings LP	Class A Common Stock	1,736,884	1,736,884
RES Master LLC	Class A Common Stock	188,015	188,518
Spouse	Class A Common Stock	15,720	15,720

Additional holdings last reported Jul 15, 2022, not confirmed since: 36,414,666 shares. Not included in any total or percentage on this page.

RES Master LLC, Class 1 (convertible) Common Stock: 952,282 shares, last reported Nov 30, 2021
Richard Sands Master Trust, Class A Common Stock: 5,300,510 shares, last reported Jul 15, 2022
Remainder Interest, Class A Common Stock: 1,433,336 shares, last reported Sep 12, 2007
M,L,R&R, Class A Common Stock: 668,136 shares, last reported May 12, 2016
Spouse as custodian for daughter under UTMA, Class A Common Stock: 6,700 shares, last reported Oct 27, 2011
Spouse as custodian for son under UTMA, Class A Common Stock: 6,700 shares, last reported Oct 27, 2011
Spouse as custodian for for daughter under UTMA, Class A Common Stock: 6,700 shares, last reported Apr 14, 2009
Direct, Class B (convertible) Common Stock: 37,350 shares, last reported Apr 26, 2018
Richard Sands Master Trust, Class B (convertible) Common Stock: 22,746,786 shares, last reported Nov 30, 2021
m direct to indirect as a result of his transfer of these 2,000,000 directly owned shares to a qualified grantor retained annuity trust for he serves as trustee, Class B (convertible) Common Stock: 2,000,000 shares, last reported Apr 1, 2008
Richard Sands Heir's Trust, Class B (convertible) Common Stock: 1,350,000 shares, last reported Jul 14, 2006
RHT 2015 Business Holdings LP, Class B (convertible) Common Stock: 1,350,000 shares, last reported Jan 17, 2018
GRAT, Class B (convertible) Common Stock: 556,166 shares, last reported Dec 27, 2006

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
734	$248.23	Jul 17, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

James Sabia Jr.

EVP & Pres. Beer

21K

25K

no sales

Vesting, gifts, unvested awards and holding lines for James Sabia Jr.

+5.5Kshares vested or exercised

0gifted (net of own trusts)

−1.5Kwithheld by the company for taxes

9K → 12Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	17,787	21,767
Family Trust	Class A Common Stock	3,242	3,242

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
5,401	$261.71	Apr 25, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

William Newlands

President & CEO, Director

15K

no sales

Vesting, gifts, unvested awards and holding lines for William Newlands

0shares vested or exercised

0gifted (net of own trusts)

44K → 51Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	15,102	15,102

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
51,208	$153.02	Apr 21, 2030	$0
26,402	$261.71	Apr 25, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Garth Hankinson

EVP & CFO

14K

18K

no sales

Vesting, gifts, unvested awards and holding lines for Garth Hankinson

+7.5Kshares vested or exercised

0gifted (net of own trusts)

−3Kwithheld by the company for taxes

18K → 21Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	13,799	18,286

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
5,521	$261.71	Apr 25, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

James Bourdeau

Minor difference of 213 shares. Small increase from an employee stock purchase plan. Small increase from an employee stock purchase plan.

EVP and Senior Advisor

9.4K

−4.4K

9.1K

not meaningful

Vesting, gifts, unvested awards and holding lines for James Bourdeau

+6Kshares vested or exercised

0gifted (net of own trusts)

−2.1Kwithheld by the company for taxes

8K → 3.9Kunvested awards, start → end

Small increase from an employee stock purchase plan. Filing

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	9,438	9,109

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
4,321	$261.71	Apr 25, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Reconciliation: minor difference of 213 shares. Small increase from an employee stock purchase plan.

Mallika Monteiro

Minor difference of 43 shares. Difference is under 0.5% of holdings.

EVP, MD, Beer Brands

6.5K

8.8K

no sales

Vesting, gifts, unvested awards and holding lines for Mallika Monteiro

+2.9Kshares vested or exercised

0gifted (net of own trusts)

−730withheld by the company for taxes

3.7K → 4.6Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	6,526	8,776
Spouse	Class A Common Stock	1	1

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,921	$261.71	Apr 25, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Reconciliation: minor difference of 43 shares. Difference is under 0.5% of holdings.

Ernesto Hernandez

Director

4.6K

−2K

3.7K

80%

Vesting, gifts, unvested awards and holding lines for Ernesto Hernandez

+1.1Kshares vested or exercised

0gifted (net of own trusts)

−15withheld by the company for taxes

1.1K → 1.4Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	4,582	3,681

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
734	$248.23	Jul 17, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Jeffrey LaBarge

Started reporting during the period; starting holdings are from the Form 3.

EVP, CLO, & Secretary

4.4K

5.4K

no sales

Vesting, gifts, unvested awards and holding lines for Jeffrey LaBarge

+1.6Kshares vested or exercised

0gifted (net of own trusts)

−507withheld by the company for taxes

2.7K → 6.1Kunvested awards, start → end

Started reporting during the period; starting holdings are from the Form 3.

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	4,390	5,441

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
2,561	$228.26	Apr 23, 2028	$0
2,984	$207.48	Apr 23, 2029	$0
2,347	$238.31	Apr 20, 2031	$0
2,346	$254.21	Apr 21, 2032	$0
914	$224.38	Apr 23, 2033	$0
922	$261.71	Apr 24, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Daniel McCarthy

Director

3.7K

4.8K

no sales

Vesting, gifts, unvested awards and holding lines for Daniel McCarthy

+1.1Kshares vested or exercised

0gifted (net of own trusts)

1.1K → 1.4Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	3,735	4,849

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
734	$248.23	Jul 17, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Jennifer Daniels

Director

3.4K

4.5K

no sales

Vesting, gifts, unvested awards and holding lines for Jennifer Daniels

+1.1Kshares vested or exercised

0gifted (net of own trusts)

1.1K → 1.4Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	3,391	4,505

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
734	$248.23	Jul 17, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Samuel Glaetzer

Minor difference of 44 shares. Small increase from an employee stock purchase plan. Small increase from an employee stock purchase plan.

EVP & Pres. Wine and Spirits

3.1K

−555

4.5K

not meaningful

Vesting, gifts, unvested awards and holding lines for Samuel Glaetzer

+2.8Kshares vested or exercised

0gifted (net of own trusts)

−921withheld by the company for taxes

5.9K → 8.6Kunvested awards, start → end

Small increase from an employee stock purchase plan. Filing

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	3,126	4,506

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,659	$172.09	Apr 21, 2027	$0
2,446	$228.26	Apr 23, 2028	$0
3,390	$207.48	Apr 23, 2029	$0
6,592	$153.02	Apr 21, 2030	$0
3,476	$238.31	Apr 20, 2031	$0
2,924	$254.21	Apr 21, 2032	$0
1,387	$224.38	Apr 24, 2033	$0
3,661	$261.71	Apr 25, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Reconciliation: minor difference of 44 shares. Small increase from an employee stock purchase plan.

Christy Clark

Director

2.8K

3.9K

no sales

Vesting, gifts, unvested awards and holding lines for Christy Clark

+1.1Kshares vested or exercised

0gifted (net of own trusts)

1.1K → 1.4Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	2,808	3,922

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
734	$248.23	Jul 17, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Christopher Baldwin

Director

2.7K

3.9K

no sales

Vesting, gifts, unvested awards and holding lines for Christopher Baldwin

+1.1Kshares vested or exercised

0gifted (net of own trusts)

1.1K → 1.4Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	2,711	3,825
Family Trusts	Class A Common Stock	17	17
Spouse	Class A Common Stock	15	15

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
301	$250.00	Mar 1, 2034	$0
734	$248.23	Jul 17, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Michael McGrew

Minor difference of 158 shares. Small increase from an employee stock purchase plan. Small increase from an employee stock purchase plan.

EVP, Chief Com, CSR, Incl Off

2.5K

4.3K

no sales

Vesting, gifts, unvested awards and holding lines for Michael McGrew

+2.1Kshares vested or exercised

0gifted (net of own trusts)

−527withheld by the company for taxes

2.5K → 2.9Kunvested awards, start → end

Small increase from an employee stock purchase plan. Filing

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	2,549	4,307

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,249	$261.71	Apr 25, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Reconciliation: minor difference of 158 shares. Small increase from an employee stock purchase plan.

Nicholas Fink

President & CEO, Director

2.4K

3.5K

no sales

Vesting, gifts, unvested awards and holding lines for Nicholas Fink

+1.1Kshares vested or exercised

0gifted (net of own trusts)

1.1K → 121Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	2,362	3,476

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
734	$248.23	Jul 17, 2034	$0
415,295	$164.50	Apr 14, 2036	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Garza Madero

Director

2.1K

2.9K

no sales

Vesting, gifts, unvested awards and holding lines for Garza Madero

+1.1Kshares vested or exercised

0gifted (net of own trusts)

−311withheld by the company for taxes

1.1K → 1.4Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	2,079	2,882

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
734	$248.23	Jul 17, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

William Giles

Director

3.1K

no sales

Vesting, gifts, unvested awards and holding lines for William Giles

+1.1Kshares vested or exercised

0gifted (net of own trusts)

1.1K → 1.4Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	1,966	3,080

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
734	$248.23	Jul 17, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Luca Zaramella

Director

1.1K

2.2K

no sales

Vesting, gifts, unvested awards and holding lines for Luca Zaramella

+1.1Kshares vested or exercised

0gifted (net of own trusts)

1.1K → 1.4Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	966	1,617
Family Trust	Class A Common Stock	91	554

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
734	$248.23	Jul 17, 2034	$0

Estimate: options held × ($143.24 − strike price), using the most recent insider trade price on Form 4 (May 12, 2026), not a market close.

Paula Erickson

Minor difference of 67 shares. Small increase from an employee stock purchase plan. Small increase from an employee stock purchase plan.

EVP & Chief HR Officer

1.4K

no sales

Vesting, gifts, unvested awards and holding lines for Paula Erickson

+1.8Kshares vested or exercised

0gifted (net of own trusts)

−506withheld by the company for taxes

5.4K → 7.1Kunvested awards, start → end

Small increase from an employee stock purchase plan. Filing

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	0	1,361

Reconciliation: minor difference of 67 shares. Small increase from an employee stock purchase plan.

Edith Flatley

Director

187

no sales

Vesting, gifts, unvested awards and holding lines for Edith Flatley

+187shares vested or exercised

0gifted (net of own trusts)

0 → 1.4Kunvested awards, start → end

Held through	Share class	Oct 9, 2025	Oct 9, 2026
Direct	Class A Common Stock	0	187

21 of 21 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (16 exactly, 5 with a minor or footnoted difference). Percentages cover 15 of 21 officers and directors. Left out: Robert Sands and Richard Sands (most holdings were last confirmed in 2022); James Bourdeau and Samuel Glaetzer (most of their shares vested during the period, so a percentage would mislead); Paula Erickson and Edith Flatley (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$1.0M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $1.0M across 6,962 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $1.0M

Sales with no 10b5-1 plan and no tax reference in the filing. $631K of it is James Bourdeau. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: James Bourdeau, May 12, 2026

Taxes

10,176 shares ($1.5M) were withheld by the company for taxes, which isn't a market sale.

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
James Bourdeau EVP and Senior Advisor	4.4K	$631K	0%	62%	May 12, 2026 to May 12, 2026
Ernesto Hernandez Director	2K	$308K	0%	30%	Apr 27, 2026 to Apr 27, 2026
Samuel Glaetzer EVP & Pres. Wine and Spirits	555	$85K	0%	8%	Feb 17, 2026 to Feb 17, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$0	$0	$0	$0
Nov 2025	$0	$0	$0	$0
Dec 2025	$0	$0	$0	$0
Jan 2026	$0	$0	$0	$0
Feb 2026	$85K	$0	$0	$85K
Mar 2026	$0	$0	$0	$0
Apr 2026	$308K	$0	$0	$308K
May 2026	$631K	$0	$0	$631K
Jun 2026	$0	$0	$0	$0
Jul 2026	$0	$0	$0	$0
Aug 2026	$0	$0	$0	$0
Sep 2026	$0	$0	$0	$0
Oct 2026	$0	$0	$0	$0

Is this normal? Selling year by year5 earlier years to compare with

Less than usual: less than one-twentieth of the 5-year average. 3 insiders sold; the average is 7 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 9, 2026 Latest 12 months	7K	3	$1.0M
Oct 9, 2025 1 year earlier	74K	5	$17.8M
Oct 9, 2024 2 years earlier	85K	6	$21.4M
Oct 10, 2023 3 years earlier	7.67M	10	$1.78B
Oct 10, 2022 4 years earlier	36K	7	$9.1M
Oct 10, 2021 5 years earlier	488K	9	$101M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertaintyEvery officer and director reconciles

Every officer and director reconciles for this period.

James Bourdeau: minor difference of 213 shares. Small increase from an employee stock purchase plan.

Mallika Monteiro: minor difference of 43 shares. Difference is under 0.5% of holdings.

Samuel Glaetzer: minor difference of 44 shares. Small increase from an employee stock purchase plan.

Michael McGrew: minor difference of 158 shares. Small increase from an employee stock purchase plan.

Paula Erickson: minor difference of 67 shares. Small increase from an employee stock purchase plan.

Inferred rename: "a trust for the benefit of the grandchildren of Marvin and Marilyn Sands" is treated as the same holder as "a trust for the benefit of the grandchildren of Marvin Sands", because the old name was never reported again and the new one opened with the same balance (4,050,000 shares). Old name, new name

Inferred rename: "Trust" is treated as the same holder as "Richard Sands Heir's Trust", because the old name was never reported again and the new one opened with the same balance (1,350,000 shares). Old name, new name

Inferred rename: "SER Business Holdings L.P" is treated as the same holder as "SER Business Holdings LP", because the old name was never reported again and the new one opened with the same balance (2,333,902 shares). Old name, new name

Inferred rename: "Holdings" is treated as the same holder as "SER Business Holdings LP", because the old name was never reported again and the new one opened with the same balance (619,892 shares). Old name, new name

Inferred rename: "Richard Sands Heirs' Trust" is treated as the same holder as "RS Heirs' Trust", because the old name was never reported again and the new one opened with the same balance (1,350,000 shares). Old name, new name

Inferred rename: "RS Heirs' Trust II" is treated as the same holder as "RHT 2015 Business Holdings LP", because the old name was never reported again and the new one opened with the same balance (1,350,000 shares). Old name, new name

Inferred rename: "RRAZ Holdings LLC" is treated as the same holder as "Richard Sands Master Trust", because the old name was never reported again and the new one opened with the same balance (5,483,842 shares). Old name, new name

Inferred rename: "Trust" is treated as the same holder as "Robert Sands Children's Trust", because the old name was never reported again and the new one opened with the same balance (1,350,000 shares). Old name, new name

Inferred rename: "LES Holdings LLC, a limited liability company of which the reporting person is the sole manager" is treated as the same holder as "LES Holdings LLC", because the old name was never reported again and the new one opened with the same balance (80,928 shares). Old name, new name

Inferred rename: "MES Holdings LLC, a limited liability company of which the reporting person is the sole manager" is treated as the same holder as "MES Holdings LLC", because the old name was never reported again and the new one opened with the same balance (73,800 shares). Old name, new name

Inferred rename: "Remainder Interest by Partnership" is treated as the same holder as "CWC Partnership II", because the old name was never reported again and the new one opened with the same balance (1,447,812 shares). Old name, new name

Inferred rename: "SSR Business Holdings L.P" is treated as the same holder as "SSR Business Holdings LP", because the old name was never reported again and the new one opened with the same balance (2,333,902 shares). Old name, new name

Inferred rename: "Holdings" is treated as the same holder as "SSR Business Holdings LP", because the old name was never reported again and the new one opened with the same balance (619,892 shares). Old name, new name

Inferred rename: "Robert Sands Children's Trust" is treated as the same holder as "RSS Children's Trust", because the old name was never reported again and the new one opened with the same balance (1,350,000 shares). Old name, new name

Inferred rename: "RSS Children's Trust" is treated as the same holder as "RCT 2015 Business Holdings LP", because the old name was never reported again and the new one opened with the same balance (1,350,000 shares). Old name, new name

Inferred rename: "RRAZ Holdings LLC" is treated as the same holder as "RSS Master Trust", because the old name was never reported again and the new one opened with the same balance (5,483,842 shares). Old name, new name

Inferred rename: "RSS Master Trust" is treated as the same holder as "Robert Sands Master Trust", because the old name was never reported again and the new one opened with the same balance (5,483,842 shares). Old name, new name

Inferred rename: "Pamela K. Sands 2016 Descendants' Trust" is treated as the same holder as "PKSDT 2016 STZ LLC", because the old name was never reported again and the new one opened with the same balance (19,329 shares). Old name, new name

Inferred rename: "RRAZ Holdings LLC" is treated as the same holder as "RRA&Z Holdings LLC", because the old name was never reported again and the new one opened with the same balance (5,483,842 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology1,279 filings from SEC EDGAR, and how we read them

All 1,279 Forms 3, 4 and 5 filed for Constellation Brands (SEC CIK 16918) from Sep 29, 2003 to Jul 24, 2026, retrieved from SEC EDGAR on Oct 9, 2026. Prices are the ones reported in each filing, often weighted averages. 9 filings were left out because Constellation Brands filed them as an owner of another company's stock.

Probable 2-for-1 stock split on or before Jun 13, 2005 (first filing that shows post-split balances). Splits aren't reported as transactions; 23 holding lines changed by exactly this ratio, so earlier share counts are restated.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (48)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
WildStar Partners LLC	Nov 22, 2024	28,459,951 shares, last reported balance as of Nov 20, 2024
Zachary Stern	Nov 15, 2024	12,361,725 shares, last reported balance as of Nov 13, 2024
Kaneenat Carey	Nov 15, 2024	2,391 shares, last reported balance as of Nov 13, 2024
ZMSS Business Holdings LP	Nov 15, 2024	3,306,078 shares, last reported balance as of Nov 13, 2024
Yuri Hermida	Oct 8, 2024	No balance on record
Judy Schmeling	Jul 18, 2024	6,285 shares, last reported balance as of Jul 10, 2024
Robert Hanson	Jan 22, 2024	11,716 shares, last reported balance as of Jan 18, 2024
Sands Family Foundation	Jan 10, 2024	No balance on record
Susan Johnson	Jul 25, 2023	2,988 shares, last reported balance as of Jul 10, 2023
James Locke III	Jul 11, 2023	52,038 shares, last reported balance as of Jul 10, 2023
Jeremy Fowden	Jul 11, 2023	19,480 shares, last reported balance as of Jul 10, 2023
Abigail Bennett	May 12, 2023	31,193,002 shares, last reported balance as of May 10, 2023
RSS Business Holdings LP	May 12, 2023	8,394,806 shares, last reported balance as of May 10, 2023
RCT 2015 BUSINESS HOLDINGS LP	May 12, 2023	1,350,000 shares, last reported balance as of Nov 22, 2016
RHT 2015 BUSINESS HOLDINGS LP	May 12, 2023	1,350,000 shares, last reported balance as of Nov 22, 2016
RSS 2015 BUSINESS HOLDINGS LP	May 12, 2023	2,324,984 shares, last reported balance as of May 10, 2023
SSR Business Holdings LP	May 12, 2023	2,164,296 shares, last reported balance as of May 10, 2023
AJB Business Holdings LP	May 12, 2023	3,365,715 shares, last reported balance as of May 10, 2023
A&Z 2015 BUSINESS HOLDINGS LP	Dec 2, 2022	9,264,764 shares, last reported balance as of Nov 22, 2016
RES Business Holdings LP	Nov 17, 2022	10,366,666 shares, last reported balance as of Nov 14, 2022
LES Lauren Holdings LLC	Jul 11, 2022	80,637 shares, last reported balance as of Jun 30, 2022
MES Mackenzie Holdings LLC	Jul 11, 2022	74,091 shares, last reported balance as of Jun 30, 2022
Thomas Kane	May 3, 2022	5,984 shares, last reported balance as of May 3, 2022
Paul Hetterich	Apr 7, 2022	104,675 shares, last reported balance as of Feb 24, 2022
David Klein	Jan 10, 2020	45,356 shares, last reported balance as of Jan 9, 2020
Keith Wandell	Mar 29, 2019	3,326 shares, last reported balance as of Dec 11, 2018
Barry Fromberg	Feb 19, 2019	32,415 shares, last reported balance as of Feb 15, 2019
Christopher Stenzel	May 3, 2018	36,185 shares, last reported balance as of May 1, 2018
Thomas Mullin	Nov 9, 2017	54,697 shares, last reported balance as of Nov 8, 2017
William Hackett	Aug 24, 2017	51,671 shares, last reported balance as of Aug 23, 2017
Frederic Cumenal	Jul 22, 2016	511 shares, last reported balance as of Jul 20, 2016
John Wright	May 11, 2016	107,280 shares, last reported balance as of May 10, 2016
Jeananne Hauswald	May 21, 2015	16,808 shares, last reported balance as of May 20, 2015
Robert Ryder	May 5, 2015	89,381 shares, last reported balance as of May 1, 2015
Mark Zupan	Jul 24, 2014	21,407 shares, last reported balance as of Jul 23, 2014
Paul Smith	Jul 25, 2013	22,520 shares, last reported balance as of Jul 24, 2013
Keith Wilson	Jun 18, 2013	26,760 shares, last reported balance as of Jun 14, 2013
Peter Perez	Jan 21, 2010	3,631 shares, last reported balance as of Jan 19, 2010
Peter Soderberg	Jul 24, 2009	9,670 shares, last reported balance as of Jul 23, 2009
Jon Moramarco	Jul 1, 2009	71,315 shares, last reported balance as of Jun 30, 2009
Alexander Berk	Jun 1, 2009	60,278 shares, last reported balance as of May 31, 2009
Jose Fernandez	Apr 8, 2009	62,409 shares, last reported balance as of Apr 6, 2009
Thomas McDermott	Jul 21, 2008	17,541 shares, last reported balance as of Jul 17, 2008
Thomas Summer	Apr 20, 2007	25,263 shares, last reported balance as of Feb 28, 2007
SANDS GRANDCHILDREN TRUST UA 11181987	Jul 18, 2006	No balance on record
Stephen Millar	Aug 8, 2005	2,296 shares, last reported balance as of Aug 4, 2005
George Bresler	Aug 1, 2005	5,368 shares, last reported balance as of Jul 28, 2005
Astra Legacy LLC		No balance on record

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.

Constellation Brands insiders sold $1.0M in the past 12 months. How much of their stake is that?

What stands out

Who sold, and how much of their stake

Selling by month

Outside holders, reported separately

Common questions

Is the Constellation Brands CEO selling stock?

Why are Constellation Brands insiders selling?

Are any Constellation Brands insiders buying?

How much of their stake did Constellation Brands insiders sell?

The evidence

No plan disclosed · $1.0M

Taxes

Sales by month