Miguel Solis and Alexander Rivas have been sentenced to serve five years behind bars and must pay each victim $10,000 (£6,600) in restitution.
The snappers claimed the two minders demanded they hand over the memory cards from their cameras when they were caught trying to take long distance photos of the couple's Costa Rica wedding. As the paparazzi drove away from the scene, Solis and Rivas opened fire.
Photographer Rolando Aviles said one bullet almost hit him.
In court testimony, he said, "The bullet went between us, missing our heads. If the bullet had been a little more to the left or right, it would have killed one of us. I said, 'They're going to kill us!'
"I could have lost my life for the sale of some pictures that Gisele didn't want published."
Bundchen claimed she knew nothing about the incident and Brady, a top American football star, initially disputed the photographers' claims, stating, "We found two guys on our property, and we told them to get out. Our security didn't even have guns."