Constellation Brands (STZ) Director Christopher Baldwin Exercises 1,114 RSUs

What Happened

• Christopher J. Baldwin, Director and Non‑Executive Chair of Constellation Brands (STZ), reported the exercise/conversion of 1,114 derivative units on July 10, 2026. The filing shows 1,114 shares acquired at $0.00 and the same 1,114 shares reported as disposed (derivative). The transactions reflect conversion/settlement of restricted stock units (RSUs); no cash purchase or sale value is reported.

Key Details

• Transaction date: 2026-07-10. Filing date: 2026-07-14 (filed within the typical two-business-day Form 4 window).
• Reported amounts: 1,114 shares acquired via exercise/conversion (Code M) @ $0.00; 1,114 shares disposed (derivative) @ $0.00.
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1—each RSU represents a contingent right to one share; F3—these RSUs vest on the date specified and vested shares are delivered on that date. F2 notes small holdings (13 and 4 shares) held in trusts for the reporting person’s children. Remark includes Exhibit 24 (Power of Attorney).
• Transaction type: derivative conversion/settlement of RSUs (not an open‑market buy or sale).

Context

• This appears to be a routine RSU vesting/settlement rather than an outright market purchase or sale; the filing reports conversion and an associated derivative disposition of the same share count. RSU settlements and related withholding or internal transfers are common and do not necessarily indicate a change in the insider’s market view.