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  4. [Form 4] HERSHEY CO Insider Trading Activity

Hershey Trust sells 30,000 shares of HERSHEY CO (HSY) stock

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Hershey Trust Company, as trustee for Milton Hershey School and a 10% owner of Hershey Co, reported open-market sales totaling 30,000 shares of common stock from August 3–5, 2026 at weighted average prices including $173.8119 and $180.2700 per share under a Rule 10b5-1 trading plan. It continues to hold 54,612,012 Class B common shares directly, each convertible share-for-share into common stock without expiration, and 39,630 common shares indirectly through Hershey Trust Company.

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Insider HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
Role 10% Owner
Sold 30,000 shs ($5.34M)
Type Security Shares Price Value
Sale Common Stock, $1.00 par value F13 25 $177.9479 $4K
Sale Common Stock, $1.00 par value F14 5,595 $178.5754 $999K
Sale Common Stock, $1.00 par value F15 4,305 $179.4327 $772K
Sale Common Stock, $1.00 par value 75 $180.00 $14K
Sale Common Stock, $1.00 par value F7 147 $173.8119 $26K
Sale Common Stock, $1.00 par value F8 638 $174.4801 $111K
Sale Common Stock, $1.00 par value F9 775 $175.5819 $136K
Sale Common Stock, $1.00 par value F10 506 $176.402 $89K
Sale Common Stock, $1.00 par value F11 1,420 $177.4685 $252K
Sale Common Stock, $1.00 par value F12 4,732 $178.4198 $844K
Sale Common Stock, $1.00 par value 1,782 $179.04 $319K
Sale Common Stock, $1.00 par value F1 16 $175.9884 $3K
Sale Common Stock, $1.00 par value F2 3,209 $176.4796 $566K
Sale Common Stock, $1.00 par value F3 5,180 $177.5559 $920K
Sale Common Stock, $1.00 par value F4 711 $178.5988 $127K
Sale Common Stock, $1.00 par value F5 782 $179.4398 $140K
Sale Common Stock, $1.00 par value F6 102 $180.27 $18K
holding Class B Common Stock, $1.00 par value F18, F17 -- -- --
holding Common Stock, $1.00 par value F16 -- -- --
Holdings After Transaction: Common Stock, $1.00 par value — 1,076,119 shares (Direct); Class B Common Stock, $1.00 par value — 54,612,012 shares (Direct); Common Stock, $1.00 par value — 39,630 shares (Indirect, By Hershey Trust Company)
Footnotes (18)
  1. F1. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.9850 to $175.9936, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  2. F2. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $176.0077 to $176.9981, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  3. F3. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $177.0126 to $177.9954, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  4. F4. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $178.0433 to $178.9996, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  5. F5. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $179.0951 to $179.9520, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  6. F6. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $180.1205 to $180.4018, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  7. F7. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.7200 to $173.9936, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  8. F8. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $174.0000 to $174.9075, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  9. F9. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0447 to $175.9422, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  10. F10. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $176.0755 to $176.8469, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  11. F11. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $177.1042 to $177.9281, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  12. F12. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $178.0053 to $178.8739, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  13. F13. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $177.9150 to $177.9859, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  14. F14. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $178.0108 to $178.9930, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  15. F15. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $179.0000 to $179.6100, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  16. F16. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
  17. F17. All shares of Class B common stock, $1.00 par value convertible share-for-share into common stock, $1.00 par value, at any time, and without payment other than for the fact of conversion. There is no expiration date.
  18. F18. The conversion price is the market price of the Common Stock on the previous business day.
Common shares sold 30000 shares Aggregate open-market sales of HSY common from August 3–5, 2026
Sale price on August 4, 2026 $173.8119 per share Weighted average price for one tranche of HSY common stock sold
Sale price on August 3, 2026 $180.2700 per share Weighted average price for one tranche of HSY common stock sold
Class B shares held 54612012 shares Direct holding of Class B common stock convertible share-for-share into HSY common
Indirect common shares held 39630 shares HSY common shares held indirectly by Hershey Trust Company
weighted average price financial
"The Price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Class B common stock financial
"All shares of Class B common stock, $1.00 par value convertible share-for-share..."
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
share-for-share financial
"Class B common stock, $1.00 par value convertible share-for-share into common stock..."
conversion price financial
"The conversion price is the market price of the Common Stock on the previous business day."
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What insider activity did Hershey Trust Company report for HERSHEY CO (HSY)?
Hershey Trust Company reported selling 30,000 shares of HERSHEY CO (HSY) common stock in open-market transactions from August 3–5, 2026. The trades were reported as weighted-average sales prices and were executed under a Rule 10b5-1 trading plan.

How many HSY shares did Hershey Trust sell and at what prices?
The trust sold an aggregate of 30,000 HSY shares across 17 transactions. Reported weighted-average sale prices included $173.8119 and $180.2700 per share, with several intermediate tranches priced between those figures according to the transaction details and related footnotes.

Were the recent HSY stock sales by Hershey Trust under a Rule 10b5-1 plan?
Yes. The filing’s Rule 10b5-1 checkbox is marked, indicating the reported 30,000-share series of HSY common stock sales from August 3–5, 2026 were effected pursuant to a pre-established trading plan rather than discretionary trades by the reporting person.

What is the significance of Hershey Trust’s Class B common stock position in HSY?
Hershey Trust reports 54,612,012 Class B common shares, each convertible share-for-share into HSY common stock at any time. Footnotes state there is no expiration date on this convertibility, and the conversion price is the market price on the previous business day.
SEC Form 4
FORM 4UNITED 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
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
(Last)(First)(Middle)
1 EAST CHOCOLATE AVENUE
SUITE 400
(Street)
HERSHEY PENNSYLVANIA 17033
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
HERSHEY CO [ HSY ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
08/03/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock, $1.00 par value08/03/2026S16D$175.9884(1)1,106,103D
Common Stock, $1.00 par value08/03/2026S3,209D$176.4796(2)1,102,894D
Common Stock, $1.00 par value08/03/2026S5,180D$177.5559(3)1,097,714D
Common Stock, $1.00 par value08/03/2026S711D$178.5988(4)1,097,003D
Common Stock, $1.00 par value08/03/2026S782D$179.4398(5)1,096,221D
Common Stock, $1.00 par value08/03/2026S102D$180.27(6)1,096,119D
Common Stock, $1.00 par value08/04/2026S147D$173.8119(7)1,095,972D
Common Stock, $1.00 par value08/04/2026S638D$174.4801(8)1,095,334D
Common Stock, $1.00 par value08/04/2026S775D$175.5819(9)1,094,559D
Common Stock, $1.00 par value08/04/2026S506D$176.402(10)1,094,053D
Common Stock, $1.00 par value08/04/2026S1,420D$177.4685(11)1,092,633D
Common Stock, $1.00 par value08/04/2026S4,732D$178.4198(12)1,087,901D
Common Stock, $1.00 par value08/04/2026S1,782D$179.041,086,119D
Common Stock, $1.00 par value08/05/2026S25D$177.9479(13)1,086,094D
Common Stock, $1.00 par value08/05/2026S5,595D$178.5754(14)1,080,499D
Common Stock, $1.00 par value08/05/2026S4,305D$179.4327(15)1,076,194D
Common Stock, $1.00 par value08/05/2026S75D$1801,076,119D
Common Stock, $1.00 par value39,630IBy Hershey Trust Company(16)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Class B Common Stock, $1.00 par value(18) (17) (17)Common Stock, $1.00 par value54,612,01254,612,012D
Explanation of Responses:
1. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.9850 to $175.9936, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
2. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $176.0077 to $176.9981, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
3. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $177.0126 to $177.9954, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
4. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $178.0433 to $178.9996, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
5. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $179.0951 to $179.9520, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
6. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $180.1205 to $180.4018, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
7. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.7200 to $173.9936, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
8. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $174.0000 to $174.9075, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
9. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0447 to $175.9422, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
10. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $176.0755 to $176.8469, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
11. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $177.1042 to $177.9281, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
12. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $178.0053 to $178.8739, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
13. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $177.9150 to $177.9859, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
14. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $178.0108 to $178.9930, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
15. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $179.0000 to $179.6100, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
16. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
17. All shares of Class B common stock, $1.00 par value convertible share-for-share into common stock, $1.00 par value, at any time, and without payment other than for the fact of conversion. There is no expiration date.
18. The conversion price is the market price of the Common Stock on the previous business day.
/s/ Joshua D. Shannon, Deputy CIO08/05/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR