X0306 4 2019-04-16 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 2019-04-16 4 M 0 20153 15.98 A 145440.25 D Common Stock 2019-04-16 4 S 0 20153 29.97 D 125287.25 D Director Stock Options (right to buy) 15.98 2019-04-16 4 M 0 20153 0.00 D 2010-03-25 2019-09-24 Common Stock 20153 0 D All of the shares being sold were acquired by the Reporting Person within the past two business days upon exercise of stock options that were due to expire on September 24, 2019. Price reflects the weighted average sale price for multiple transactions that ranged from $29.89 to $30.06 per share. The reporting person undertakes to provide, upon request by the Commission Staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price. Reflects an antidilution adjustment to the number of options (originally granted on September 25, 2009 and expiring September 24, 2019, for 15,000 shares at an exercise price of $21.47 per share) held by the Reporting Person, which antidilution adjustment was made prior to the exercise date in connection with the spinoff of Lamb Weston Holdings, Inc. from the Issuer on November 9, 2016 (the "Spinoff"). The total number of options held by the Reporting Person immediately prior to the Spinoff was 15,000. /s/ Christine M. Herbas, Attorney-in-fact 2019-04-18