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<?xml version="1.0" encoding="windows-1252"?> |
<ownershipDocument> |
| <schemaVersion> X0206 </schemaVersion> |
| <documentType> 3 </documentType> |
| <periodOfReport> 2024-03-11 </periodOfReport> |
| <noSecuritiesOwned> 0 </noSecuritiesOwned> |
| <issuer> |
| | <issuerCik> 0000016918 </issuerCik> |
| | <issuerName> CONSTELLATION BRANDS, INC. </issuerName> |
| | <issuerTradingSymbol> STZ </issuerTradingSymbol> |
| | </issuer> |
| <reportingOwner> |
| | <reportingOwnerId> |
| | | <rptOwnerCik> 0002013420 </rptOwnerCik> |
| | | <rptOwnerName> Glaetzer Samuel J </rptOwnerName> |
| | | </reportingOwnerId> |
| | <reportingOwnerAddress> |
| | | <rptOwnerStreet1> C/O CONSTELLATION BRANDS, INC. </rptOwnerStreet1> |
| | | <rptOwnerStreet2> 207 HIGH POINT DRIVE, BUILDING 100 </rptOwnerStreet2> |
| | | <rptOwnerCity> VICTOR </rptOwnerCity> |
| | | <rptOwnerState> NY </rptOwnerState> |
| | | <rptOwnerZipCode> 14564 </rptOwnerZipCode> |
| | | <rptOwnerStateDescription></rptOwnerStateDescription> |
| | | </reportingOwnerAddress> |
| | <reportingOwnerRelationship> |
| | | <isDirector> 0 </isDirector> |
| | | <isOfficer> 1 </isOfficer> |
| | | <isTenPercentOwner> 0 </isTenPercentOwner> |
| | | <isOther> 0 </isOther> |
| | | <officerTitle> EVP & Pres. Wine and Spirits </officerTitle> |
| | | </reportingOwnerRelationship> |
| | </reportingOwner> |
| <nonDerivativeTable> |
| | <nonDerivativeHolding> |
| | | <securityTitle> |
| <value> Class A Common Stock </value> |
| </securityTitle> |
| | | <postTransactionAmounts> |
| <sharesOwnedFollowingTransaction> |
| <value> 4160 </value> |
| </sharesOwnedFollowingTransaction> |
| </postTransactionAmounts> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </nonDerivativeHolding> |
| | </nonDerivativeTable> |
| <derivativeTable> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option (right to buy) </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 117.12 </value> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2016-04-28 </value> |
| <footnoteId id="F1"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2025-04-28 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class 1 (convertible) Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 167 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option (right to buy) </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 156.84 </value> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2017-04-25 </value> |
| <footnoteId id="F1"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2026-04-25 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class 1 (convertible) Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 452 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option (right to buy) </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 172.09 </value> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2018-04-21 </value> |
| <footnoteId id="F1"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2027-04-21 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class 1 (convertible) Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 2159 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option (right to buy) </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 228.26 </value> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2019-04-23 </value> |
| <footnoteId id="F1"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2028-04-23 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class 1 (convertible) Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 2446 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option (right to buy) </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 207.48 </value> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2020-04-23 </value> |
| <footnoteId id="F1"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2029-04-23 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class 1 (convertible) Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 3390 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option (right to buy) </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 153.02 </value> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2021-04-21 </value> |
| <footnoteId id="F2"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2030-04-21 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class 1 (convertible) Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 6592 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option (right to buy) </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 238.31 </value> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2022-04-20 </value> |
| <footnoteId id="F2"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2031-04-20 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class 1 (convertible) Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 3476 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option (right to buy) </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 254.21 </value> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2023-04-21 </value> |
| <footnoteId id="F2"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2032-04-21 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class 1 (convertible) Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 2924 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Non-Qualified Stock Option (right to buy) </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <value> 224.38 </value> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2024-04-24 </value> |
| <footnoteId id="F3"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2033-04-24 </value> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class 1 (convertible) Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 1387 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Restricted Stock Units </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <footnoteId id="F5"/> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2024-05-01 </value> |
| <footnoteId id="F4"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2024-05-01 </value> |
| <footnoteId id="F4"/> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class A Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 163 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Restricted Stock Units </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <footnoteId id="F5"/> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2024-05-01 </value> |
| <footnoteId id="F6"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2025-05-01 </value> |
| <footnoteId id="F6"/> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class A Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 1330 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Restricted Stock Units </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <footnoteId id="F5"/> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2024-05-01 </value> |
| <footnoteId id="F7"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2026-05-01 </value> |
| <footnoteId id="F7"/> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class A Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 1042 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | <derivativeHolding> |
| | | <securityTitle> |
| <value> Restricted Stock Units </value> |
| </securityTitle> |
| | | <conversionOrExercisePrice> |
| <footnoteId id="F5"/> |
| </conversionOrExercisePrice> |
| | | <exerciseDate> |
| <value> 2024-05-01 </value> |
| <footnoteId id="F7"/> |
| </exerciseDate> |
| | | <expirationDate> |
| <value> 2026-05-01 </value> |
| <footnoteId id="F7"/> |
| </expirationDate> |
| | | <underlyingSecurity> |
| <underlyingSecurityTitle> |
| <value> Class A Common Stock </value> |
| </underlyingSecurityTitle> |
| <underlyingSecurityShares> |
| <value> 955 </value> |
| </underlyingSecurityShares> |
| </underlyingSecurity> |
| | | <ownershipNature> |
| <directOrIndirectOwnership> |
| <value> D </value> |
| </directOrIndirectOwnership> |
| </ownershipNature> |
| | | </derivativeHolding> |
| | </derivativeTable> |
| <footnotes> |
| | <footnote id="F1"> 100% of this option has become exercisable. </footnote> |
| | <footnote id="F2"> This option becomes exercisable in four equal annual installments beginning on the date specified. </footnote> |
| | <footnote id="F3"> This option becomes exercisable in three equal annual installments beginning on the date specified. </footnote> |
| | <footnote id="F4"> These restricted stock units vest on the date specified. Vested shares will be delivered to the reporting person on the vesting date net of shares withheld to satisfy taxes. </footnote> |
| | <footnote id="F5"> Each restricted stock unit represents a contingent right to receive one share of Constellation Brands, Inc. Class A Common Stock. </footnote> |
| | <footnote id="F6"> These restricted stock units vest in two equal annual installments beginning on the date specified. Vested shares will be delivered to the reporting person as of each vesting date net of shares withheld to satisfy taxes. </footnote> |
| | <footnote id="F7"> These restricted stock units vest in three equal annual installments beginning on the date specified. Vested shares will be delivered to the reporting person as of each vesting date net of shares withheld to satisfy taxes. </footnote> |
| | </footnotes> |
| <remarks> Exhibit 24 - Power of Attorney </remarks> |
| <ownerSignature> |
| | <signatureName> /s/ Brian S. Bennett, Attorney-in-fact </signatureName> |
| | <signatureDate> 2024-03-11 </signatureDate> |
| | </ownerSignature> |
| </ownershipDocument> |