Constellation Brands
Q4 2022 Earnings Call
Apr 07, 2022, 10:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Hello, and welcome to the Constellation Brands fiscal year 2022 Q4 full year earnings call. [Operator instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Patty Yahn-Urlaub, senior vice president, investor relations. Please go ahead.
Patty Yahn-Urlaub -- Senior Vice President of Investor Relations
Thanks, Kevin. Good morning, and welcome to Constellation's year-end fiscal '22 conference call. I'm here this morning with Bill Newlands, our CEO; and Garth Hankinson, our CFO. As a reminder, reconciliations between the most directly comparable GAAP measure and any non-GAAP financial measures discussed on this call are included in our news release or otherwise available on the company's website at cbrands.com.
Please refer to the news release and Constellation's SEC filings for risk factors which may impact forward-looking statements we make on this call. Before turning the call over to Bill, similar to prior quarters, I would like to ask that we limit everyone to one question per person which will help us to end our call on time. Thanks in advance, and now here's Bill.
Bill Newlands -- Chief Executive Officer
Thank you, Patty. Good morning, and welcome to our fiscal '22 year-end call. Before I get started this morning, I'd like to comment on the announcement made earlier this week relating to the proposal from the Sands family to declassify Constellation's dual share class structure. According to the family's filing, the proposal brings significant benefits that will accrue to the company and its shareholders, including increasing market finance from investors who prefer single-class structures.
The proposal is under consideration and will be negotiated explicitly by the special committee of our board of directors, and any agreement reached with the Sands family will require the approval of that special committee, as well as our full board of directors. In addition, pursuant to the terms of the proposal, it would require the approval of holders of a majority of our Class A common stock that do not also hold shares of our Class B common stock I'd like to remind everyone that the Sands family proposal was not made in connection with a corporate transaction. Constellation does not intend to comment further on the proposal. Unless and until a definitive agreement is reached, the proposal is abandoned or otherwise deemed advisable in connection with any further public disclosure by the Sands family.