SEC Info - Constellation Brands, Inc. - ‘10-Q’ for 11/30/19

Constellation Brands, Inc. – ‘10-Q’ for 11/30/19 – ‘EX-10.6’

On: Wednesday, 1/8/20, at 12:21pm ET · For: 11/30/19 · Accession #: 16918-20-7 · File #: 1-08495

Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 3.10M 2: EX-10.6 Material Contract HTML 31K 3: EX-31.1 Certification -- §302 - SOA'02 HTML 32K 4: EX-31.2 Certification -- §302 - SOA'02 HTML 32K 5: EX-32.1 Certification -- §906 - SOA'02 HTML 28K 6: EX-32.2 Certification -- §906 - SOA'02 HTML 28K 45: R1 Cover Page HTML 86K 101: R2 Consolidated Balance Sheets (Unaudited) HTML 134K 64: R3 Consolidated Balance Sheets (Unaudited) HTML 39K (Parenthetical) 31: R4 Consolidated Statements of Comprehensive Income HTML 120K (Loss) (Unaudited) 46: R5 Consolidated Statements of Changes in HTML 107K Stockholders' Equity (Unaudited) 102: R6 Consolidated Statements of Cash Flows (Unaudited) HTML 145K 65: R7 Basis of Presentation HTML 31K 34: R8 Accounting Guidance HTML 32K 43: R9 Inventories HTML 42K 92: R10 Business Transformation HTML 106K 80: R11 Derivative Instruments HTML 180K 22: R12 Fair Value of Financial Instruments HTML 217K 58: R13 Goodwill HTML 59K 93: R14 Intangible Assets HTML 57K 81: R15 Equity Method Investments HTML 102K 23: R16 Other Assets HTML 36K 59: R17 Borrowings HTML 127K 94: R18 Income Taxes HTML 37K 79: R19 Deferred Income Taxes and Other Liabilities HTML 40K 25: R20 Leases HTML 187K 35: R21 Stockholders' Equity HTML 190K 98: R22 Net Income (Loss) Per Common Share Attributable to HTML 115K CBI 60: R23 Comprehensive Income (Loss) Attributable to CBI HTML 223K 26: R24 Condensed Consolidating Financial Information HTML 832K 36: R25 Business Segment Information HTML 289K 99: R26 Basis of Presentation (Policies) HTML 30K 61: R27 Accounting Guidance (Policies) HTML 31K 24: R28 Inventories (Tables) HTML 40K 37: R29 Business Transformation (Tables) HTML 104K 57: R30 Derivative Instruments (Tables) HTML 179K 20: R31 Fair Value of Financial Instruments (Tables) HTML 211K 83: R32 Goodwill (Tables) HTML 56K 96: R33 Intangible Assets (Tables) HTML 87K 56: R34 Equity Method Investments (Tables) HTML 132K 19: R35 Other Assets (Tables) HTML 36K 82: R36 Borrowings (Tables) HTML 112K 95: R37 Deferred Income Taxes and Other Liabilities HTML 39K (Tables) 55: R38 Leases (Tables) HTML 127K 21: R39 Stockholders' Equity (Tables) HTML 190K 47: R40 Net Income (Loss) Per Common Share Attributable to HTML 111K CBI (Tables) 32: R41 Comprehensive Income (Loss) Attributable to CBI HTML 224K (Tables) 66: R42 Condensed Consolidating Financial Information HTML 830K (Tables) 103: R43 Business Segment Information (Tables) HTML 284K 44: R44 Accounting Guidance (Details) HTML 34K 30: R45 Inventories (Details) HTML 41K 63: R46 Business Transformation (Details) HTML 47K 100: R47 Business Transformation (Details 1) HTML 91K 42: R48 Business Transformation (Details 2) HTML 46K 33: R49 Business Transformation (Details Textual) HTML 57K 17: R50 Derivative Instruments (Details) HTML 38K 52: R51 Derivative Instruments (Details 1) HTML 60K 84: R52 Derivative Instruments (Details 2) HTML 58K 70: R53 Derivative Instruments (Details Textual) HTML 32K 18: R54 Fair Value of Financial Instruments (Details) HTML 93K 53: R55 Fair Value of Financial Instruments (Details 1) HTML 104K 85: R56 Fair Value of Financial Instruments (Details 2) HTML 59K 71: R57 Fair Value of Financial Instruments (Details HTML 41K Textual) 16: R58 Fair Value of Financial Instruments (Details HTML 73K Textual 1) 54: R59 Goodwill (Details) HTML 47K 104: R60 Goodwill (Details Textual) HTML 37K 68: R61 Intangible Assets (Details) HTML 46K 28: R62 Equity Method Investments (Details) HTML 57K 39: R63 Equity Method Investments (Details 1) HTML 58K 105: R64 Equity Method Investments (Details Textual) HTML 127K 69: R65 Other Assets (Details) HTML 32K 29: R66 Borrowings (Details) HTML 106K 41: R67 Borrowings (Details 1) HTML 50K 106: R68 Borrowings (Details Textual) HTML 88K 67: R69 Income Taxes (Details Textual) HTML 32K 76: R70 Deferred Income Taxes and Other Liabilities HTML 39K (Details) 91: R71 Leases (Details) HTML 54K 51: R72 Leases (Details 1) HTML 42K 15: R73 Leases (Details 2) HTML 71K 72: R74 Leases (Details 3) HTML 47K 88: R75 Leases (Details 4) HTML 49K 48: R76 Leases (Details Textual) HTML 27K 12: R77 Stockholders' Equity (Details) HTML 129K 78: R78 Stockholders' Equity (Details 1) HTML 42K 87: R79 Stockholders' Equity (Details Textual) HTML 42K 75: R80 Net Income (Loss) Per Common Share Attributable to HTML 74K CBI (Details) 90: R81 Net Income (Loss) Per Common Share Attributable to HTML 31K CBI (Details Textual) 50: R82 Comprehensive Income (Loss) Attributable to CBI HTML 109K (Details) 14: R83 Comprehensive Income (Loss) Attributable to CBI HTML 74K (Details 1) 74: R84 Condensed Consolidating Financial Information HTML 221K (Details) 89: R85 Condensed Consolidating Financial Information HTML 162K (Details 1) 49: R86 Condensed Consolidating Financial Information HTML 154K (Details 2) 13: R87 Business Segment Information (Details) HTML 91K 77: R88 Business Segment Information (Details 1) HTML 104K 86: R89 Business Segment Information (Details Textual) HTML 29K 27: R9999 Uncategorized Items - stz1130201910q.htm HTML 44K 40: XML IDEA XML File -- Filing Summary XML 196K 38: XML XBRL Instance -- stz1130201910q_htm XML 8.22M 97: EXCEL IDEA Workbook of Financial Reports XLSX 141K 8: EX-101.CAL XBRL Calculations -- stz-20191130_cal XML 390K 9: EX-101.DEF XBRL Definitions -- stz-20191130_def XML 1.31M 10: EX-101.LAB XBRL Labels -- stz-20191130_lab XML 2.11M 11: EX-101.PRE XBRL Presentations -- stz-20191130_pre XML 1.60M 7: EX-101.SCH XBRL Schema -- stz-20191130 XSD 190K 62: JSON XBRL Instance as JSON Data -- MetaLinks 476± 688K 73: ZIP XBRL Zipped Folder -- 0000016918-20-000007-xbrl Zip 567K

Exhibit 10.6

Description of Compensation Arrangements for Non-Management Directors

As of January 1, 2020

The following is a description of the compensation arrangements for the non-management directors of Constellation Brands, Inc. The Company’s annual compensation program for non-management directors for their service as directors consists of a board cash retainer, a lead director cash retainer, chair fees, restricted stock units, non-qualified stock options, an annual product allowance, and a matching charitable contribution program.

The board cash retainer consists of an annual retainer equal to $100,000 paid in quarterly installments. The lead director cash retainer consists of a $25,000 annual cash retainer to be paid to the Board’s lead director, if any, payable in quarterly installments. The chair fees consist of annual fees of $20,000 for the positions of Chair of the Audit Committee and Chair of the Human Resources Committee, and $15,000 for the Chair of the Corporate Governance Committee, which are paid in quarterly installments.

Long-term incentive awards in the form of stock options and restricted stock units granted under the Company’s Long-Term Stock Incentive Plan are another element of non-management director compensation. As approved by the Board of Directors, each non-management director receives the following annually:



1.	A non-qualified stock option grant with a grant date fair value of $55,000 computed in accordance with FASB ASC Topic 718.



2.	A restricted stock unit award with a grant date fair value of $102,500. (Each restricted stock unit is to represent a contingent right to receive one share of the Company's Class A Common Stock.)

While the Board has the flexibility to determine at the time of each grant the vesting provisions for that grant, currently stock options vest six (6) months following the date of grant and restricted stock units vest on July 1^st following the date of grant. The Long-Term Stock Incentive Plan, Amended and Restated as of July 18, 2017, is filed as Exhibit 10.4 to the Company’s Current Report on Form 8-K dated July 18, 2017 and filed July 20, 2017.

Non-management directors are reimbursed for reasonable expenses incurred in connection with their attendance at Board and Committee meetings. They also receive an annual product allowance in the form of a $5,000 cash payment and are eligible to participate in the Company's charitable matching contribution program whereby they can direct all or a portion of the Company’s charitable matching contributions not in excess of $5,000.

Members of the Board of Directors who are members of management serve without receiving any additional fees or other compensation for their service on the Board.

This ‘10-Q’ Filing

Date

Other Filings

Filed on:

1/8/20

8-K

1/1/20

For Period end:

11/30/19

7/20/17

3, 4, 8-K

7/18/17

3, 4, 8-K, DEF 14A

List all Filings

As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 10/02/20 Constellation Brands, Inc. 8-K:5,7,9 9/30/20 14:22M

Constellation Brands, Inc. – ‘10-Q’ for 11/30/19 – ‘EX-10.6’

On: Wednesday, 1/8/20, at 12:21pm ET · For: 11/30/19 · Accession #: 16918-20-7 · File #: 1-08495

Previous ‘10-Q’: ‘10-Q’ on 10/3/19 for 8/31/19 · Next: ‘10-Q’ on 7/1/20 for 5/31/20 · Latest: ‘10-Q’ on 1/5/24 for 11/30/23 · 1 Reference: By: Constellation Brands, Inc. – ‘8-K’ on 10/2/20 for 9/30/20

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

‘EX-10.6’ — Material Contract

This Exhibit is an HTML Document rendered as filed. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

1 Subsequent Filing that References this Filing

Constellation Brands, Inc. – ‘10-Q’ for 11/30/19 – ‘EX-10.6’

On: Wednesday, 1/8/20, at 12:21pm ET · For: 11/30/19 · Accession #: 16918-20-7 · File #: 1-08495

Previous ‘10-Q’: ‘10-Q’ on 10/3/19 for 8/31/19 · Next: ‘10-Q’ on 7/1/20 for 5/31/20 · Latest: ‘10-Q’ on 1/5/24 for 11/30/23 · 1 Reference: By: Constellation Brands, Inc. – ‘8-K’ on 10/2/20 for 9/30/20

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘EX-10.6’ — Material Contract

This Exhibit is an HTML Document rendered as filed. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

1 Subsequent Filing that References this Filing

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents