Constellation Brands Approves Equity Grants for CFO Hankinson

Constellation Brands has approved equity grants for CFO Garth Hankinson, comprising restricted stock units and performance share units, to vest by May 1, 2028. The company also held its virtual Annual Meeting, where stockholders elected 12 directors and ratified KPMG LLP as the independent registered public accounting firm.

Constellation Brands, Inc. (NYSE: STZ), a leading beverage company with a market capitalization of $30.25 billion, has taken several significant corporate actions following its annual meeting held virtually on Tuesday. The company’s stock, currently trading at $171.52, has seen a challenging year with a -23% year-to-date return.

One of the key decisions made during the meeting was the approval of equity grants for Garth Hankinson, the Executive Vice President and Chief Financial Officer. Hankinson received 7,531 restricted stock units (RSUs) and 7,531 performance share units (PSUs) under the company’s Long-Term Stock Incentive Plan. The RSUs are set to vest on May 1, 2028, contingent on continued service, with provisions for pro-rated or accelerated vesting in certain circumstances such as termination without cause, good reason, death, or disability. The PSUs will be settled in Class A common stock, with the number of shares determined by the company’s enterprise cost savings and relative total stockholder return performance through the vesting period [1].

Shareholders also elected 12 directors to serve one-year terms expiring at the 2026 annual meeting. Each director received a majority of votes cast. Among the nominees, Christy Clark received the highest number of votes for her election, with 153,344,775 shares in favor. Additionally, shareholders ratified the appointment of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending February 28, 2026. The ratification received 160,873,738 votes in favor, 4,007,921 against, and 99,224 abstentions.

In other recent news, Constellation Brands reported first-quarter earnings per share of $3.22, which fell short of Wall Street expectations due to softer organic sales growth and volume declines across key brands. Despite these results, the company maintained its fiscal year 2026 guidance, even accounting for a $20 million tariff impact. Analysts have responded with varying ratings and price targets, reflecting differing opinions on the company’s long-term growth outlook and near-term challenges [1].

References:
[1] https://www.investing.com/news/sec-filings/constellation-brands-grants-equity-awards-to-cfo-shareholders-approve-board-and-compensation-93CH-4140743