[144] The Hershey Company SEC Filing

Rhea-AI Filing Summary

RENN Fund, Inc. (RCG) Form 4: President, Co-Portfolio Manager and >10% owner Murray Stahl reported open-market purchases on 18-Jul-2025. Seven individual transactions, all at $2.65 per share, totaled 1,130 common shares.

Post-transaction beneficial ownership stands at 96,054 shares held directly. Indirectly, Stahl reports: 2,744 (spouse), 105,708 (Fromex Equity Corp), 290,960 (FRMO Corp), 314,590 (Horizon Common Inc.), 8,820 (Horizon Kinetics Hard Assets LLC) and 53,836 (Horizon Kinetics Asset Management LLC). Stahl disclaims beneficial ownership in the indirect accounts except for any pecuniary interest.

No derivatives were reported. The filing indicates continued accumulation but the dollar value (≈$3,000) is small relative to existing holdings, suggesting routine portfolio adjustment rather than a materially significant signal.

Positive

• Insider confidence: President >10% owner Murray Stahl bought 1,130 shares on the open market.

Negative

• None.

Insights

Financial Analyst

TL;DR: Small insider buy; signal mildly positive but not material.

Stahl added 1,130 shares at $2.65, increasing his direct stake to 96k shares and maintaining extensive indirect holdings. The purchase value (~$3k) is de-minimis versus total ownership (>870k combined), making the activity low impact on valuation. Still, insider buying—especially by a senior officer who is already a 10%+ holder—tends to be viewed favorably as a sentiment indicator. No derivatives or sales were disclosed, and no other corporate events accompany the filing, supporting a neutral-to-positive interpretation.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	5000	900000.00	147990276	07/21/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	02/21/2024	Restricted Stock Vesting	Issuer			4400	02/21/2024	Compensation
Common	02/22/2024	Restricted Stock Vesting	Issuer			600	02/22/2024	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many RCG shares did Murray Stahl buy on 18-Jul-2025?

He purchased 1,130 common shares at $2.65 each.

What is Murray Stahl’s total direct ownership in RENN Fund after the transaction?

His direct holding is now 96,054 shares.

Were any shares sold or any derivatives exercised in this Form 4?

No. The filing reports only open-market purchases; no sales or derivatives are listed.

What is the value of the insider purchase?

Approximately $2,995 (1,130 shares × $2.65).

Does Murray Stahl disclaim beneficial ownership of indirect accounts?

Yes. He disclaims beneficial ownership in indirect accounts except to the extent of any pecuniary interest.