Vote: Who is the Bill Gray's Athlete of the Week for Jan. 9-15? Canopy Growth president Bruce Linton said the additional funds would be used for international expansion and that future marketing plans included products such as cannabis-infused beverages and sleep aids. Constellation is an international producer and marketer of beer, wine, and spirits. Hitter for the New York Mets, 1980-88. Information regarding Constellation's directors and executive officers is available in Constellation's most recent proxy statement, dated May 27, 2022, for the Annual Meeting of Stockholders . About Simon Business SchoolThe Simon Business School is a world-class business school located on the campus of the University of Rochester. He is married to Pamela Sands. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Agreement provides multiple benefits including Corporate governance enhancements and operating cost savingsVICTOR, N.Y., June 30, 2022 (GLOBE NEWSWIRE) -- Constellation Brands (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that following the recommendation of a special committee comprised solely of independent directors, its Board of Directors has approved, and will . [31] On September 15, 2020, it was announced Constellation Brands acquires craft spirits producer Copper & Kings American Brandy. Richard Sands: Puoliso (t) Pamela Kaufman: Vanhemmat) Marvin Sands: Sukulaiset: . She can accommodate 10 guests and has a crew of 9. His previous roles were Executive Vice President, General Counsel and CEO. At least 11 of the fortunes, including that of meat processor John Tyson, were hit by the pandemic. Constellation Brands is based in Victor, New York and is a publicly traded beverage company with brands in wine, beer, and spirits. Wheeler said there were three other parties seriously interested in buying the property, but none resulted in a written offer. Information regarding Constellations directors and executive officers is available in Constellations most recent proxy statement, datedMay27, 2022, for the Annual Meeting of Stockholders to be held on July19, 2022, which was filed with the SEC on June2, 2022, and Constellations other filings with the SEC. Constellation Brands, Inc. has a one year low of $207.59 and a one year high of $261.52. Pamela Sands - $20,400 in Political Contributions for 2016, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions . In relative obscurity, Richard and Robert Sands have grown their family wine business, now called Constellation Brands, into a global alcohol empire that generates over $7 billion of revenue per year. Phillips added its unusual to have such a large-scale project accomplished within zoning allowances. Constellation Brands Stock is Launching Towards New Highs. These statements may relate to future plans and objectives of management and Constellations Board of Directors, as well as information concerning expected actions of third parties. [7] In October 2018, he became the executive chairman at the company. Its sales of wine and spirits have persistently fallen, and investors are starting to notice. On behalf of the Sands Family Foundation and our team at Constellation Brands, we are excited to partner with the Simon Business School on the development of a new state-of-the-art classroom space, said Rob Sands. Constellation intends to file with the Securities and Exchange Commission (the SEC) a Registration Statement on FormS-4, which will contain a proxy statement/prospectus in connection with the proposed reclassification. | Constellation Brands, Inc. is an American producer and marketer of beer, wine, and spirits. Michelle is a top producer of premium wines with brands such as Columbia Crest and 14 Hands helping it to gain acclaim. [6] By 1980, its annual sales topped $50 million, and was renamed Constellation Brands in 2000, and has acquired numerous companies including Robert Mondavi wine and Svedka vodka. They came to the town and wanted to work with the town to meet all the requirements, said South Bristol Town Clerk Judy Voss. Each performance share unit represents a contingent right to receive one share of Constellation Brands, Inc. Class A Common Stock. Photo: Gabby Jones/Bloomberg News. The company is the largest multi-category supplier (beer, wine, and spirits) of beverage alcohol in the U.S. The family that controls Constellation Brands is proposing some changes that deal with corporate control of that locally based wine, beer and spirits company. Currently, its most notable subsidiaries include Robert Mondavi wine and Svedka vodka. Wheeler doesnt see why the Sandses shouldnt have such a home. They wanted to build a home that would last through the ages, said Voss. The company is known for its relentless streak of acquisitions. Last June, Constellation Brands, the giant wine, beer and spirits producer and marketer based in Victor, N.Y., announced it was buying the 50% of Mexican beer producer and marketer Crown Imports that it didnt already own, [], Each week at Forbes we scan our database of corporate insiders to see who got richer from the action in the stock market. . [32], In 2017, the company began investing in medical marijuana. Constellations stock has risen six-fold in the last five years, including a 33% gain so far in 2017. Between 2017 and May 2020, Constellation Brands has acquired a 38.6% stake in Canopy Growth, a Canadian cannabis producer, which could grow to a 55% stake if Constellation exercises all of its warrants. February 22, 2015. 30, 2022, 08:03 AM. He has a Masters degree from the University of North Carolina. A state audit estimated NY lost $11 billion to unemployment fraud. Constellation Brands. Who is Rob Sands? It feels good, he said with characteristic nonchalance. The consent submitted will only be used for data processing originating from this website. Bills report card: Buffalo is battle-tested and it benefits playoff run, Bills fortunate to escape Dolphins but can't continue self-inflicted mistakes, Bills survive Dolphins 34-31, will host Bengals next weekend, Buffalo Bills 34, Miami Dolphins 31: Recap, highlights, updates, Damar Hamlin tweets he will not attend Bills vs. Dolphins playoff game, Bills-Dolphins playoff rivalry reignites as teams meet for fifth time: Here is the history, Hilton wrestling impresses: What to know about Section V's Dual Meet Championships, The snow is finally accumulating in Rochester. Rob Sands was born on October 6, 1958. VICTOR, N.Y., June 30, 2022 (GLOBE NEWSWIRE) -- Constellation Brands (NYSE:STZ), a leading beverage alcohol company, announced today that following the recommendation of a special committee . Most recently he sold 1,427,799 units of STZ stock worth $346,683,875 on 15 July 2022.. The invitation still stands. Wine and spirits firm posts strong Q1 profits on a favorable product mix and increased prices. Constellation also holds the rights to Grupo Modelo's U.S. beer business, including its Modelo and Corona labels. by Pamela K. Sands 2016 Descendants' Trust (3) Class A Common Stock: 5,483,842 (4) I: by RRAZ Holdings LLC (5) Class A Common Stock: 1,769 (6) I: By Spouse: . 2023 Forbes Media LLC. For 19 years he was Chairman of the Board of Constellation. With thousands of daily visitors and a strong growth rate,SuperYachtFan became one of thelargest superyacht sites. Scott Mlyn | CNBC. Linda Phillips, Ontario County senior planner, finds it remarkable the project didnt require any variances. This space is the largest classroom at the Simon School and currently houses the institutions most important events and conferences, including the Sands Leadership Lecture Series. He has 2 children from a previous marriage: Lauren Sands and MacKenzie Sands. Rob Sands . The tunnel idea was eventually dropped. Identifying voids and . [6] In 2013, it acquired the US rights to Grupo Modelo beers including Modelo and Corona. . The largest trade he's ever made was selling 1,427,799 units of Constellation Brands Inc stock on 15 July 2022 worth over $346,683,875. The intent is for the Sands family to be able to enjoy this home for generations to come, Sadecki told the board. Shares of the company fell as much as 4.2 . [1][4][5], Marvin Sands founded the Canandaigua Wine Company in 1945, aged 21. Agreement provides multiple benefits including Corporate governance enhancements and operating cost savingsVICTOR, N.Y., June 30, 2022 (GLOBE NEWSWIRE) -- Constellation Brands (NYSE: STZ and STZ.B . From there, plans sailed along. Agreement provides multiple benefits including Corporate governance enhancements and operating cost savingsVICTOR, N.Y., June 30, 2022 (GLOBE NEWSWIRE) -- Constellation Brands (NYSE: STZ and STZ.B . All rights reserved. | Contact Us | Privacy Policy | Terms of Use. [25][26] In February 2019, Constellation announced it had acquired a minority stake in Black Button Distilling, a craft spirits distillery in Rochester, NY. The alcoholic beverages company sells budget booze brands to raise cash. It now has more than 9,000 employees and 40 . This represents a 26.5% premium relative to Constellations ClassA common stock closing share price as of June29, 2022. Its worth our dedication, hard work, and the bold calculated risks we take to deliver more for our consumers, trade partners, shareholders, and communities in which we live and work. Acquisitions included BRL Hardy (Australia)[13] and Nobilo (New Zealand) in 2003; Robert Mondavi Corp. for $1 billion in 2004;[14] Vincor International, Canada's largest wine company, for $1.44 billion in 2006;[15] Spirits Marque One (owner of Svedka Vodka) in 2007;[16] and Beam Wines Estates, the wine operations of Fortune Brands (which included several major brands such as Clos du Bois) for $885 million in 2008. For another, respect the towns guidelines and be very respectful to their neighbors. Meyer added the owners asked for no special changes or variances. Oct 2007 - Mar 201810 years 6 months. He sold wine in barrels to bottles. He sold wine in barrels to bottles. [10] Marvin's son Richard Sands became president in 1993 and CEO in 1996. [8], Sands is a board member of Rochester General Health Systems, Thompson Hospital, Rochester Business Alliance, and chairman of the New York Wine and Culinary Center. Centerview Partners LLC served as financial advisor and Potter Anderson & Corroon LLP served as legal counsel to the Special Committee of the Constellation Board of Directors. The Sands brothers' fortunes have so far weathered the coronavirus pandemic relatively unscathed. We believe both have their formal residence in Rochester, New York. An example of data being processed may be a unique identifier stored in a cookie. Do Not Sell/Do Not Share My Personal Information. Average Constellation Brands salaries by department include: Business Development at $127,302, Admin at $56,892, Finance at $86,471, and Product at $151,582. Constellation Brands ( NYSE:STZ - Get Rating) last posted . It certainly doesnt feel bad.. CONSTELLATION BRANDS INC POLITICAL ACTION COMMITTEE: SANDS, PAMELA GENEVA, NY 14456: Self/Homemaker: $2,700: 04/11/2017: P: TOM REED FOR CONGRESS - Republican . Reminiscent of a medieval castle, the $4.33 million stone mansion that broke ground more than a year ago on Canandaigua Lake in South Bristol will be the family home of Robert Sands, executive chairman of the Fortune 500 alcoholic beverage giant Constellation Brands Inc. Ontario County lists the two-story stone mansion as built in 2020 (though its still under construction), with four bedrooms, three fireplaces, five full baths, and two half baths in a hemlock-Northern hardwood forest. The forward-looking statements are based on management's current expectations and should not be construed in any manner as a guarantee that such results will in fact occur. our registration number is ch2169. Robert has made over 50 trades of the Constellation Brands Inc stock since 2011, according to the Form 4 filled with the SEC. Sands says that there is "huge upside" in the company's best performing brands when it comes down to retail exposure. They own Constellation Brands, which was founded by their father. In comparison, some of its highest paying competitors, like Gillette, Brown-Forman, and Molson Coors, pay $71,618, $65,370, and $60,218, respectively. [citation needed], In 2000, the company changed its name to Constellation Brands, Inc. to reflect the scope of the company and its range of brands. We are active on social media including Facebook, Instagram, YouTube, and Twitter. Constellation Brands founding Sands family members want to give up their voting control, although the deal may . The school is in the early planning stages of the renovations, which is slated to be completed in the summer of 2019. CONSTELLATION BRANDS INC POLITICAL ACTION COMMITTEE: SANDS, PAMELA GENEVA, NY 14456: $2,700: 06/19/2015: P: FRIENDS OF SCHUMER - Democrat: SANDS, PAMELA GENEVA . In the past he was also Vice President, COO, CEO, and President. Subsidiaries include Robert Mondavi wine and Svedka Vodka. [21], In December 2015, Constellation announced the $1 billion acquisition of Ballast Point Brewing of San Diego. [17] The company later moved to a more premium wine portfolio, divesting Almaden Vineyards, Inglenook Winery, and the Paul Masson winery in Madera, California, in 2008,[18] and its value spirits portfolio to the Sazerac Company in 2009. [11] In 1998 it acquired Matthew Clark in the United Kingdom, and after selling off its cider business, the Gaymer Cider Company, sold half of the business to Punch Taverns. He has 2 children: Ashley and Cameron. Voss, who was on hand for multiple meetings and a public hearing in June 2018 for the original tunnel application, said the development is within the towns 35-foot height limit and exceeds setback and other zoning requirements. Foods. The grounds will house a terraced rock garden with all non-invasive species and shrubs built into the landscape. Rob Sands,chief executive officer of Constellation Brands, a Fortune 500 companythat produces beer, wine and spirits, has been with the company since 1986. He is married to Pamela. Riding up and down the lake, whether its on the Canandaigua Lady, a rented pontoon, or boating alone, looking at the architecture up and down the lake thats very popular, she said. Constellation Brands, Inc., headquartered in Victor, New York, is the world's largest wine company with brands across the wine, beer and spirits categories. Allow Necessary Cookies & Continue [8] In 1999, Marvin Sands died following a brief illness. Rob and Richard Sands are US-based billionaires. That small operation has mushroomed into a publicly-traded behemoth now called Constellation Brands . Currently distributed in all 50 states and in 90 countries around the world, Opus One is a joint-venture between Baron Philippe de Rothschild S.A. and Constellation Brands. 84% of employees would recommend working at Constellation Brands to a friend and 87% have a positive outlook for the business. This rating has improved by 2% over the last 12 months. In a recent interview with Forbesnear Constellations headquarters in upstate New York, Robert Sandswho serves as CEOreflected on his rising fortune. Richard Sands' house is situated on 4 acres of land bordering Canandaigua Lake, located in the Finger Lakes region of New York. The word expect, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Reflects change since 5 pm ET of prior trading day. The nearly 12,000-square-foot stone mansion is being constructed of granite and copper, and with slate roofs. Meeting, Privacy The series seeks to advance the science and teaching of leadership at Simon, and is supported by Richard Sands, Chairman of the Board of Constellation Brands and a member of the board of trustees at the University of Rochester. The Strengths-Weaknesses-Opportunities-Threats (SWOT) Analysis / Matrix enables the managers of the Constellation Brands to develop four types of strategies: SO (strengths-opportunities) Strategies. Their latest yacht is the Amels Moonstone. They own a fleet of superyachts and private jets. All forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, such forward-looking statements. Now available on your iOS or Android device. Constellation Brands employees rate their Executive Team in the Top 50% of similar size companies on Comparably with 5,001-10,000 Employees. Attempts to reach Robert Sands to talk about the project were unsuccessful, so far. Constellation Brands CEO Rob Sands: He listens to his employees and prioritizes the important stuff. Over the decades, the company, which was renamed Constellation Brands in 2000, developed a reputation as an acquisition powerhouse. The mansion can be seen through the viewfinder from the South Bristol Overlook on County Road 12, as well as other vantage points on and around the lake. We, Yahoo, are part of the Yahoo family of brands. The family that controls Constellation Brands Inc. is proposing a move that would reduce the collective voting power of the Sands family to 19.7% from about 59.5%. dodge grand caravan automatic headlights; lisa richardson paul tracy; michaels graduation photo album; dance it out meaning The alcohol beverage company said Bill . Sadecki told the board an ambient lighting scheme is planned for safety without causing light pollution to Seneca Point Road or to boats on the lake. [6][36], In 2010, a French court in Carcassonne, France, convicted 12 wine traders and producers for selling fake pinot noir wine to buyers in the US, amongst them Constellation, in a scheme that lasted from January 2006 to March 2008. The Sands Family Foundation and Constellation Brands have made another joint $1 million gift to Keeping the Promise The Campaign for Boca Raton Regional Hospital . Indoor & Outdoor SMD Screens, LED Displays, Digital Signage & Video Wall Solutions in Pakistan The barrier to entry for The Forbes 400 was higher than ever in 2017, with a cutoff of $2 billion. Rooted in quantitative analysis, Simon offers a distinct advantage in todays data-driven economy. (RTTNews) - Beverage alcohol company Constellation Brands (STZ, STZ.B) announced Thursday that following the recommendation of a special committee comprised solely of . A downloadable PDF copy of this news release can be found here:http://ml.globenewswire.com/Resource/Download/d48d1261-28d3-4e5e-a0fa-ca15cb6aa9f4, http://ml.globenewswire.com/Resource/Download/d48d1261-28d3-4e5e-a0fa-ca15cb6aa9f4, Annual Including a large home on Lake Canandaigua. Following the reclassification, the Sands Family will be subject to customary standstill provisions. Along with landscape and lighting designs, the main driveway is being designed around the tree, something Sadecki said was important to Rob and Pamela Sands. Earlier this year, the company reportedly began mulling its largest buyout ever. Those on the job include LeChase Construction Services LLC, which the Sands also used for The Lake House on Canandaigua, a public resort that opened last year. Statements in this press release regarding Constellation and the reclassification transaction that are forward-looking, including projections as to the anticipated benefits of the proposed transaction, the impact of the proposed transaction on Constellations business and future financial and operating results and capital structure following the closing of the proposed reclassification and the closing date for the proposed transaction, are based on managements estimates, assumptions and projections, and are subject to significant uncertainties and other factors, many of which are beyond Constellations control. Participants in the SolicitationThe directors and executive officers of Constellation and other persons may be considered participants in the solicitation of proxies from stockholders in connection with the proposed transaction. [2], He grew up in Canandaigua, New York, and was educated at The Harley School in Rochester, New York, graduating in 1976. The company now boasts a market capitalization of more than $40 billion. In 2017, Constellation Brands stock price shot up by almost 50%, versus 20% for the S&P 500. Richard and Robert Sands are two of 22 newcomers to The Forbes 400 in 2017; they joined the ranks with net worths of $2.9 billion and $2.8 billion, respectively. Robert Sands, who joined the company in 1986 as general counsel, was CEO from 2007 until March 2019. Alcoholic beverage maker bests analyst concensus with stronger-than-anticipated European business. Robert and Richard each own more than 15 million shares. All statements other than statements of historical fact are forward-looking statements. [34] At the time of the agreement, Constellation became the first Fortune 500 company and the first major alcoholic beverage maker to take a minority stake in a marijuana business. With heavy hearts, we announce the death of Pamela Sands of Jet, Oklahoma, who passed away on November 26, 2022 at the age of 69. A number of former TWA pilots flew the jets to their final resting place and reminisced about their and the planes' careers. Why has some Kerrygold butter been taken off shelves in NY stores? How Two Brothers Built Their Family Wine Business Into A $40 Billion Alcohol Empire, These Are The 22 Newcomers To The 2017 Forbes 400 List, Leadership Lessons From Constellation Brands CEO Rob Sands, Who Got Rich This Week: An Upstate New York Winemaker, Chief Yelper Levchin And More, Constellation Brands: Powerless On Pricing, Constellation Brands Caters to A Cool Crowd, Constellation Spikes After Budget Booze Biz Sale, Constellation Beats Street On Strong Sales In Europe, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. The average employee at Constellation Brands makes $82,343 per year, which is quite competitive for its location and industry. On the other hand where theres smoke, there is fire ;-). The transaction included full ownership of Crown Imports LLC which provided Constellation with complete, independent control of all aspects of the US commercial business; a brewery in Mexico; exclusive perpetual brand license in the US to import, market and sell Corona and the Modelo brands and the freedom to develop brand extensions and innovations for the US market. To learn more, visit www.cbrands.com and follow us on Twitter, Instagram, and LinkedIn. A few years later he already realized annual sales of US$ 1 million. When the property at 5735 Seneca Point Road went on the market in 2017, it was a two-acre estate known as Millstones. The focus on market capitalization is intentional. "This has been another exciting year for Constellation," said Rob Sands, president and chief executive officer of Constellation Brands, in a statement. In the fiscal . We and our partners use cookies to Store and/or access information on a device. STOCKHOLDERS OF CONSTELLATION ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Constellation Brands Offers to Reduce Voting Power. [24], In April 2018, Accolade Wines (acquired under the name BRL Hardy) was sold to private equity firm The Carlyle Group. As a network of health care experts located throughout the Rochester area, Central, and Western New York, we work together to diagnose, prevent, treat, and manage heart disease and a wide range of conditions. Home sale prices have surged:Our database tracks the trends, Luxury lake homes in NY:Competition off the charts in the Finger Lakes. The Company will announce details of the Special Meeting as soon as it is determined. The last rating scoring Constellation Brands' executive team was provided 6 days ago and has remained stable at 66 over . Forward-Looking StatementsThis press release contains forward-looking statements. [27] In July 2019, Constellation announced it had acquired a minority stake in Montanya Distillers, a craft-rum distillery in Crested Butte, Colorado and a majority stake in Nelson's Green Brier Distillery, a revival of the original Green Brier Tennessee Whiskey and Belle Meade Bourbon labels in Nashville, TN. Robert Scott Sands (born 1958/59) is an American billionaire businessman, and the executive chair and former CEO of Constellation Brands, a Fortune 500 beer, wine and spirits company founded by his father Marvin Sands . Dialectic helps businesses and organizations improve the way people work, learn, and collaborate through person-centred design and the latest in social psychology, industrial organizational psychology, neuroscience, and behavioural economics. At Constellation Brands, the highest paid job is a Director of IT at $255,000 annually and the lowest is an Admin Assistant at $46,816 annually. 2023 www.democratandchronicle.com. The CEO also responds to Diageo's lofty $1 billion purchase of George Clooney . Four billion dollars later the beverage company is changing the industry. (Jennifer) Sands and Rob (Pamela) Sands; son-in-law, Dr. Andy . My co-workers are really nice, and we work well as a team. The company has more than 100 brands in its portfolio. Robert and Pamela Sands approached the town back in 2018 with plans that initially includedbuilding a pedestrian tunnel under Seneca Point Road to connect a guest house with the main house on the lake. For one, build a really beautiful building using the best materials.. The proposed share reclassification will strengthen the Companys corporate governance profile by aligning voting rights with the economic interests of all shareholders. Marvin Sands, Richard and Roberts father, founded the Canandaigua Wine Company in 1945. You can change your choices at any time by visiting your privacy controls. We remain committed to helping develop the next generation of business leaders.. After an extensive review and analysis by a Special Committee of the Constellation Brands Board of Directors, including input from an independent financial advisor and legal counsel, the Board agreed it is in the best interests of the Company and all Constellation shareholders, to eliminate the ClassB common stock, said Bill Newlands, Constellations President and CEO. All Rights Reserved. [33] In October 2017, Constellation agreed to pay about C$245 million ($191 million) for a 9.9% stake in Canopy Growth Corporation, a Canadian seller of medicinal-marijuana products. Great pay, great benefits, good morale, management that listens to your concern. The Sands' latest generosity brings the Keeping the Promise total raised to more than $236 million toward its goal of $250 million, including 45 donors who have given seven and . Rob Sands will step down as CEO of Constellation Brands on March 1, 2019, the New York-based alcohol beverage company announced today. Every day, people reach for our high-end, iconic imported beer brands such as Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and Pacifico, our fine wine and craft spirits brands, including The Prisoner Wine Company, Robert Mondavi Winery, Casa Noble Tequila, and High West Whiskey, and our premium wine brands such as Meiomi, and Kim Crawford. (RTTNews) - Constellation Brands, Inc. (STZ) said it has received a non-binding proposal from the Sands Family to declassify the company's common stock and transition to a single class common . The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included elsewhere. The company has also recently paid $1 billion for . In 2009, the Sands family and Constellation Brands together gave $4 million to Rochester General Hospital, kicking off the silent phase of Rochester General's Bold New Future campaign to raise funds for upgrades to facilities and improvements to patient care. All rights reserved. The stock has a market capitalization of $41.17 billion, a P/E ratio of 637.70, a price-to-earnings-growth ratio of 1.89 and a beta of 1.00. Assuming the role from Sands will be Bill Newlands, who . Constellation also holds the exclusive rights to Grupo Modelos American beer businessbest known for its Modelo and Corona labelswhich it acquired in 2013 when Grupo Modelo merged with Anheuser-Busch InBev and faced antitrust scrutiny from regulators. The G280 replaced a Dassault Falcon with the same registration. One of the oldest homes on the lake, it had been maintained as it was built in the 1920s. This 7,718 square foot single family home has 6 bedrooms and 5 full bathrooms. The reclassification is subject to the approval of a majority of the outstanding shares of ClassA and ClassB common stock, voting together as a single class, a majority of the outstanding shares of ClassB common stock, and a majority of the issued and outstanding shares of ClassA common stock not held by the Sands Family, executive officers of Constellation or directors that hold ClassB common stock.