Hershey Trust sells 20,000 Hershey Co shares
Hershey’s controlling shareholder disclosed Rule 10b5-1 plan sales of 20,000 HSY shares while retaining over 54 million convertible Class B shares.
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Form Type
4
Rhea-AI Filing Summary
HERSHEY CO (HSY) large shareholder Hershey Trust Company, as trustee for Milton Hershey School, reported open-market sales of a total of 20,000 shares of common stock on September 3–4, 2026 at weighted-average prices around $172–$176 per share, executed pursuant to a Rule 10b5-1 trading plan. The trust continues to hold 54,612,012 shares of Class B common stock convertible share-for-share into common stock, and 39,630 shares of common stock are held indirectly by Hershey Trust Company.
Insider Trade Summary 10b5-1
Net Seller: 20,000 shares
Net Sell
7 txns
Insider
HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
Role
10% Owner
Sold
20,000 shs ($3.48M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $1.00 par value F6 | 8,657 | $173.4583 | $1.50M |
| Sale | Common Stock, $1.00 par value F7 | 1,343 | $174.3274 | $234K |
| Sale | Common Stock, $1.00 par value F1 | 1,666 | $172.45 | $287K |
| Sale | Common Stock, $1.00 par value F2 | 1,263 | $173.4968 | $219K |
| Sale | Common Stock, $1.00 par value F3 | 1,848 | $174.6319 | $323K |
| Sale | Common Stock, $1.00 par value F4 | 4,525 | $175.3361 | $793K |
| Sale | Common Stock, $1.00 par value F5 | 698 | $176.1624 | $123K |
| Holding | Class B Common Stock, $1.00 par value F10, F9 | -- | -- | -- |
| Holding | Common Stock, $1.00 par value F8 | -- | -- | -- |
Holdings After Transaction:
Common Stock, $1.00 par value — 856,119 shares (Direct);
Class B Common Stock, $1.00 par value — 54,612,012 contracts (Direct);
Common Stock, $1.00 par value — 39,630 shares (Indirect, By Hershey Trust Company)
Footnotes (10)
- F1. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $172.1556 to $172.9982, 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.
- F2. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.0004 to $173.9455, 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.
- F3. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $174.0403 to $174.9982, 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.
- F4. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0018 to $175.9819, 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.
- F5. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $176.0021 to $176.4550, 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.
- F6. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.0000 to $173.9950, 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.
- F7. 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 $174.7800, 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.
- F8. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
- F9. 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.
- F10. The conversion price is the market price of the Common Stock on the previous business day.
Key Figures
Total common shares sold: 20,000 shares
Sale price example: $172.45 per share
Highest reported weighted-average sale price: $176.1624 per share
+3 more
6 metrics
Total common shares sold
20,000 shares
Aggregate open-market sales on September 3–4, 2026
Sale price example
$172.45 per share
Weighted-average price for 1,666 shares sold on September 3, 2026
Highest reported weighted-average sale price
$176.1624 per share
Weighted-average price for 698 shares sold on September 3, 2026
Largest single-line sale block
8,657 shares
Common stock sold at $173.4583 weighted-average price on September 4, 2026
Direct Class B holdings (underlying common)
54,612,012 shares
Class B common stock, each convertible into one share of common stock
Indirect common stock holdings
39,630 shares
Common stock held indirectly by Hershey Trust Company
Key Terms
Rule 10b5-1 trading plan, weighted average price, Class B common stock, convertible share-for-share, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"transactions were effected pursuant to a Rule 10b5-1 trading plan"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
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.
market price of the Common Stock financial
"The conversion price is the market price of the Common Stock on the previous business day."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Were the HSY insider transactions made under a Rule 10b5-1 trading plan?
Yes. The Form 4 indicates the transactions were effected under a Rule 10b5-1 trading plan, meaning the trades were executed pursuant to a pre-arranged plan rather than being discretionary at the time of sale.
What indirect HSY common stock holdings are disclosed in this Form 4?
The filing discloses 39,630 shares of Hershey Co common stock held indirectly, with the nature of ownership noted as “By Hershey Trust Company.” Another footnote explains that Hershey Trust Company is wholly owned by the Milton Hershey School Trust.
AI-generated analysis. How Rhea-AI works. Not financial advice.
