[Form 4] HASBRO, INC. Insider Trading Activity

Rhea-AI Filing Summary

The reporting person, Lisa Gersh, a director of Hasbro, Inc. (HAS), acquired 820 stock units under the Hasbro Deferred Compensation Plan for Non-Employee Directors on 09/30/2025. Each unit converts 1-for-1 into common stock and units are settled only in common stock after the director ceases to serve. Following the transaction, Ms. Gersh beneficially owns 43,786 shares. Nineteen units vest on the earlier of 12/31/2025 and specified qualifying events; another 19 units vest on the earlier of 12/31/2026 and specified qualifying events; the remainder were immediately vested. The per-unit price shown is $75.85, reflecting the grant valuation.

Insights

Financial Analyst

TL;DR Director received routine deferred-compensation stock units increasing ownership to 43,786 shares; transaction appears nondiscretionary and compensatory.

The 820 stock units were granted under the companys Deferred Compensation Plan for Non-Employee Directors and are settlement-only-in-stock, which is typical for director compensation programs. Because most units were immediately vested and a small portion vests on specific future dates, the economic impact is limited to routine dilution equivalent and increased insider alignment. The filing discloses the post-transaction beneficial ownership level of 43,786 shares, providing transparency on insider holdings. There is no indication of market-timing or an open-market purchase; the transaction code indicates a compensatory award rather than a discretionary buy.

Corporate Governance Expert

TL;DR Compensatory grant to a director under a standard plan; governance disclosure is clear and compliant with Rule 16 reporting.

The Form 4 shows compliant, timely disclosure of equity-based director compensation. Key plan features are noted: 1-for-1 settlement to common stock, settlement occurs after service ends, and vesting triggers tied to tenure, death, disability, or retirement after age 72. These provisions align director incentives with shareholders while limiting immediate dilution by restricting settlement timing. The filing includes required explanatory footnotes and a Power of Attorney signature, reflecting appropriate internal controls over Section 16 reporting.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Gersh Lisa

(Last) (First) (Middle)

C/O HASBRO, INC.

1027 NEWPORT AVENUE

(Street)

PAWTUCKET RI 02861

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HASBRO, INC. [ HAS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Units(1)	$0(2)	09/30/2025		A		820		(3)(4)	(3)(4)	Common Stock	820	$75.85	43,786	D

Explanation of Responses:

1. All of the stock units were acquired pursuant to the Hasbro, Inc. Deferred Compensation Plan for Non-Employee Directors in compliance with Rule 16b-3.

2. Units correspond 1 for 1 with common stock.

3. Units are settled only in common stock and are payable after the reporting person ceases to be a director.

4. Vesting of 19 units will occur on the earlier of 12/31/2025 (provided the reporting person is still a director as of such date) and the death, disability or retirement (after age 72) of the reporting person. Vesting of 19 units will occur on the earlier of 12/31/2026 (provided the reporting person is still a director as of such date) and the death, disability or retirement (after age 72) of the reporting person. The remainder of the units are immediately vested.

Remarks:

	Matthew Gilman, P/O/A for Lisa Gersh	10/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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