Sabia James A. Jr. 4

What Happened

• James A. Sabia Jr., EVP & President, Beer at Constellation Brands (STZ), had performance and restricted share units vest/convert on May 1, 2026. A total of 5,488 shares were issued upon conversion/exercise of those awards (several M-coded derivative conversions at $0.00). To cover tax withholding (F-coded), 1,508 of those shares were surrendered at an implied value of $152.82 per share, totaling $230,453. The net shares delivered to Sabia were 3,980 (5,488 converted less 1,508 withheld).

Key Details

• Transaction date: May 1, 2026; Form 4 filed May 5, 2026 (filing date shown on report).
• Conversions/vests: 5,488 shares converted/exercised (multiple M-coded entries at $0.00).
• Tax withholding: 1,508 shares withheld (F-coded) at $152.82/share = $230,453.
• Net shares received: 3,980 shares.
• Shares owned after transaction: not specified in the filing.
• Notable footnotes:
  • F1–F6 indicate the converted units were performance share units and restricted stock units that vested on May 1, 2026 and that vested shares were delivered net of shares withheld to satisfy taxes.
  • F3 notes certain holdings are held by a trust of which the reporting person and spouse are trustees/beneficiaries.
• Timeliness: Filing date and transaction date are shown; the report lists the filing as May 5, 2026 for May 1, 2026 transactions (timeliness beyond what’s shown in the filing is not specified here).

Context

• The M transaction codes reflect conversion/exercise of contingent awards (performance share units and restricted stock units), not an open-market purchase or deliberate sale. The F transaction is tax withholding — a common net settlement/cashless-style delivery where a portion of vested shares are retained to cover taxes.
• These types of vested award conversions and tax-withholdings are routine compensation events and do not themselves indicate a buy/sell decision in the open market.