Constellation Brands 8-K: Officer Changes, Compensation Reported

TL;DR

**Constellation Brands just reported executive changes and compensation details, watch for strategic shifts.**

AI Summary

Constellation Brands, Inc. filed an 8-K on January 5, 2024, reporting events from January 4, 2024, related to the departure or appointment of officers and their compensation. This filing indicates potential changes in leadership or executive compensation structures, which could impact the company's strategic direction and financial performance. Investors should monitor these changes as they might signal shifts in corporate governance or operational focus, potentially affecting future stock value.

Why It Matters

Changes in executive leadership or compensation can signal strategic shifts or financial health, directly influencing investor confidence and the company's future performance.

Risk Assessment

Risk Level: medium — Changes in executive leadership can introduce uncertainty regarding future company strategy and performance, posing a moderate risk to investors.

Analyst Insight

Investors should monitor future filings or company announcements for specific details regarding the executive changes and compensatory arrangements mentioned, as these will provide clarity on potential strategic shifts and their impact on the company's outlook.

Key Players & Entities

• CONSTELLATION BRANDS, INC. (company) — the registrant filing the 8-K
• January 4, 2024 (date) — date of the earliest event reported
• January 5, 2024 (date) — date the 8-K was filed
• 001-08495 (other) — Commission File Number
• Delaware (other) — State of incorporation for Constellation Brands, Inc.
• 207 High Point Drive, Building 100, Victor, NY 14564 (other) — Address of principal executive offices
• (585) 678-7100 (other) — Registrant's telephone number

Forward-Looking Statements

• Constellation Brands will announce specific executive changes or compensation details in a subsequent filing or press release. (CONSTELLATION BRANDS, INC.) — high confidence, target: Q1 2024

FAQ

Filing Documents

• d667782d8k.htm (8-K) — 27KB
• d667782dex991.htm (EX-99.1) — 10KB
• g667782g75s18.jpg (GRAPHIC) — 15KB
• g667782g82x56.jpg (GRAPHIC) — 20KB
• 0001193125-24-002649.txt ( ) — 210KB
• stz-20240104.xsd (EX-101.SCH) — 3KB
• stz-20240104_lab.xml (EX-101.LAB) — 18KB
• stz-20240104_pre.xml (EX-101.PRE) — 11KB
• d667782d8k_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 4, 2024, Robert Hanson, Executive Vice President and President, Wine & Spirits Division of Constellation Brands, Inc. ("Constellation" or the "Company") and the Company mutually agreed that Mr. Hanson will step down from his role at the end of the Company's fiscal year on February 29, 2024. Mr. Hanson will transition his responsibilities until such date and will be entitled to the severance benefits set forth under his pre-existing employment agreement in connection with his departure from the Company.

01

Item 7.01 Regulation FD Disclosure. On January 4, 2024, Constellation issued a news release (the "release") announcing that the Company and Mr. Hanson mutually agreed that Mr. Hanson will step down from his role at the end of the Company's current fiscal year on February 29, 2024. A copy of the release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. References to Constellation's website and/or other social media sites or platforms in the release do not incorporate by reference the information on such websites, social media sites, or platforms into this Current Report on Form 8-K, and Constellation disclaims any such incorporation by reference. The information in the release attached as Exhibit 99.1 is incorporated by reference into this Item 7.01 in satisfaction of the public disclosure requirements of Regulation FD. This information is "furnished" and not "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and is not otherwise subject to the liabilities of that section. Such information may be incorporated by reference in another filing under the Securities Exchange Act of 1934 or the Securities Act of 1933 only if and to the extent such subsequent filing specifically references the information incorporated by reference herein.

Financial Statements and Exhibits

Financial Statements and Exhibits. Exhibit No. Description 99.1 News Release of Constellation Brands, Inc. dated January 4, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 4, 2024 CONSTELLATION BRANDS, INC. By: /s/ Garth Hankinson Garth Hankinson Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR