Hankinson Garth 4

What Happened Garth Hankinson, EVP & CFO of Constellation Brands (STZ), had performance share units and restricted stock units vest on May 1, 2026 and converted (exercised) into common shares. A total of 7,530 shares vested/converted. Of those, 3,043 shares were withheld to satisfy tax withholding at $152.82 per share (total $465,031), resulting in net delivery of 4,487 shares to Hankinson. The reported exercises/conversions are recorded at $0 because these were vesting conversions of awards (not open-market purchases).

Key Details

• Transaction date: May 1, 2026; Form 4 filed May 5, 2026 (see filing for timeliness).
• Vested/converted shares: 7,530 total (2,281 + 5,249 per filing entries).
• Shares withheld for taxes: 3,043 disposed at $152.82/share = $465,031.
• Net shares delivered to insider: 4,487 (7,530 − 3,043).
• Footnotes: PSUs and RSUs vested on May 1, 2026 and are delivered net of shares withheld to satisfy taxes (see F1–F5 for PSU/RSU descriptions and vesting schedules).
• Transaction codes: M = exercise/conversion of derivative awards; F = shares used to pay tax liability (withholding).

Context These transactions reflect awards vesting and net share settlement to cover tax withholding — not an open-market sale or purchase. When equity awards vest and shares are withheld for taxes, it’s a routine compensation-related event rather than a directional buy/sell signal by the insider.