X0306 4 2018-12-03 0 0000023217 CONAGRA BRANDS INC. CAG 0001206253 BUTLER STEPHEN G C/O CONAGRA BRANDS, INC. 222 W. MERCHANDISE MART PLAZA, STE 1300 CHICAGO IL 60654 1 0 0 0 Common Stock 2018-12-03 4 A 0 925.07 32.43 A 123377.75 D Represents the right to receive 925.07 shares of the Issuer's common stock in connection with the payment of the Reporting Person's director's fees, which fees have been deferred under the Issuer's Directors' Deferred Compensation Plan (the "Plan"). These shares will be distributed to the Reporting Person in accordance with his election under the Plan; deferred amounts may not be transferred from the Plan until the time specified in his election. Includes 436.78 shares acquired since the date of the Reporting Person's last report through dividend equivalent reinvestment. /s/ Colleen Batcheler, attorney-in-fact 2018-12-06