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Hershey Trust sells 30,000 Hershey Co shares

Hershey Trust Company, as trustee for the Milton Hershey School, reported open-market sales totaling 30,000 shares of The Hershey Company common stock over July 6–8, 2026.

Filing Impact
(Very High)
Filing Sentiment

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Form Type
4

Rhea-AI Filing Summary

Hershey Trust Company, as trustee for the Milton Hershey School, reported open-market sales totaling 30,000 shares of The Hershey Company common stock over July 6–8, 2026. The weighted average sale prices ranged from about $173.6883 to $182.2164 per share.

The trust also reports holding 54,612,012 shares of Class B common stock, which are convertible share-for-share into common stock with no expiration date.

Insider HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
Role 10% Owner
Sold 30,000 shs ($5.31M)
Type Security Shares Price Value
Sale Common Stock, $1.00 par value 96 $173.7964 $17K
Sale Common Stock, $1.00 par value 4,364 $174.446 $761K
Sale Common Stock, $1.00 par value 3,152 $175.497 $553K
Sale Common Stock, $1.00 par value 2,003 $176.3714 $353K
Sale Common Stock, $1.00 par value 385 $177.0495 $68K
Sale Common Stock, $1.00 par value 2,730 $175.8808 $480K
Sale Common Stock, $1.00 par value 2,154 $176.3781 $380K
Sale Common Stock, $1.00 par value 3,349 $177.4468 $594K
Sale Common Stock, $1.00 par value 169 $178.4598 $30K
Sale Common Stock, $1.00 par value 386 $179.7341 $69K
Sale Common Stock, $1.00 par value 629 $180.3742 $113K
Sale Common Stock, $1.00 par value 525 $181.5912 $95K
Sale Common Stock, $1.00 par value 58 $182.0698 $11K
Sale Common Stock, $1.00 par value 246 $176.8958 $44K
Sale Common Stock, $1.00 par value 4,290 $177.5782 $762K
Sale Common Stock, $1.00 par value 4,109 $178.4972 $733K
Sale Common Stock, $1.00 par value 903 $179.4303 $162K
Sale Common Stock, $1.00 par value 184 $180.3125 $33K
Sale Common Stock, $1.00 par value 33 $181.2181 $6K
Sale Common Stock, $1.00 par value 235 $182.1806 $43K
holding Class B Common Stock, $1.00 par value -- -- --
holding Common Stock, $1.00 par value -- -- --
Holdings After Transaction: Common Stock, $1.00 par value — 1,276,119 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 (22)
  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 $176.7867 to $176.9923, 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 $177.0042 to $177.9981, 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 $178.0056 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.
  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 $179.0028 to $179.9957, 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 $180.0410 to $180.5432, 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 $182.1100 to $182.2164, 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 $175.4762 to $175.9900, 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 $176.0000 to $176.9700, 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 $177.0600 to $177.9700, 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 $178.0700 to $178.9700, 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 $179.4900 to $179.9700, 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 $180.0100 to $180.8900, 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 $181.0000 to $181.9900, 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 $182.0200 to $182.1400, 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 $173.6883 to $173.9968, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $174.0348 to $174.9754, 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.
  17. F17. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0107 to $175.9921, 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.
  18. F18. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $176.0019 to $176.9960, 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.
  19. F19. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $177.0030 to $177.1232, 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.
  20. F20. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
  21. F21. 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.
  22. F22. The conversion price is the market price of the Common Stock on the previous business day.
Shares sold 30,000 shares Aggregate common stock sales July 6–8, 2026
Lowest reported sale price $173.6883 per share Lower end of weighted average sale price ranges
Highest reported sale price $182.2164 per share Upper end of weighted average sale price ranges
Number of sale transactions 20 transactions Open-market sales of common stock
Class B shares held 54,612,012 shares Class B common stock convertible share-for-share into common
Insider status Ten percent owner Reporting person classification on Form 4
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.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
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.
convertible share-for-share financial
"Class B common stock, $1.00 par value convertible share-for-share into common stock"
ten percent owner regulatory
""is_ten_percent_owner": 1"
underlying security financial
""underlying_security_title": "Common Stock, $1.00 par value""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Hershey Trust Company report in this Form 4 for HSY?
Hershey Trust Company reported selling a total of 30,000 shares of The Hershey Company common stock in open-market transactions over July 6–8, 2026, at weighted average prices between about $173.6883 and $182.2164 per share.

Over what dates did Hershey Trust Company sell HSY shares and at what prices?
The trust sold Hershey Co (HSY) common shares on July 6, 7 and 8, 2026. Weighted average sale prices across the reported trades ranged from roughly $173.6883 to $182.2164 per share, based on multiple executions within those ranges.

How many HSY shares did Hershey Trust Company sell in total?
According to the Form 4, Hershey Trust Company sold an aggregate of 30,000 shares of The Hershey Company common stock. These were executed as 20 separate open-market sale transactions over three trading days in early July 2026.

Does Hershey Trust Company still hold a large position in Hershey Co after these sales?
Yes. The filing shows Hershey Trust Company as a ten percent owner and reports ownership of 54,612,012 shares of Class B common stock, which are convertible share-for-share into common stock without an expiration date, indicating a very substantial continuing position.

What is the Class B common stock held by Hershey Trust Company?
The filing states the trust holds Class B common stock, $1.00 par value, that is convertible share-for-share into Hershey common stock without any additional payment. The footnotes specify there is no expiration date on this conversion right.

How many individual sale transactions did the Hershey Trust report for HSY?
The transaction summary shows 20 sale transactions of Hershey common stock. Each line reflects an open-market sale, with prices reported as weighted averages for multiple executions within specified intraday price ranges over the three disclosed trading dates.

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

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Accepted by SEC EDGAR
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)
07/06/2026		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 value07/06/2026S246D$176.8958(1)1,305,873D
Common Stock, $1.00 par value07/06/2026S4,290D$177.5782(2)1,301,583D
Common Stock, $1.00 par value07/06/2026S4,109D$178.4972(3)1,297,474D
Common Stock, $1.00 par value07/06/2026S903D$179.4303(4)1,296,571D
Common Stock, $1.00 par value07/06/2026S184D$180.3125(5)1,296,387D
Common Stock, $1.00 par value07/06/2026S33D$181.21811,296,354D
Common Stock, $1.00 par value07/06/2026S235D$182.1806(6)1,296,119D
Common Stock, $1.00 par value07/07/2026S2,730D$175.8808(7)1,293,389D
Common Stock, $1.00 par value07/07/2026S2,154D$176.3781(8)1,291,235D
Common Stock, $1.00 par value07/07/2026S3,349D$177.4468(9)1,287,886D
Common Stock, $1.00 par value07/07/2026S169D$178.4598(10)1,287,717D
Common Stock, $1.00 par value07/07/2026S386D$179.7341(11)1,287,331D
Common Stock, $1.00 par value07/07/2026S629D$180.3742(12)1,286,702D
Common Stock, $1.00 par value07/07/2026S525D$181.5912(13)1,286,177D
Common Stock, $1.00 par value07/07/2026S58D$182.0698(14)1,286,119D
Common Stock, $1.00 par value07/08/2026S96D$173.7964(15)1,286,023D
Common Stock, $1.00 par value07/08/2026S4,364D$174.446(16)1,281,659D
Common Stock, $1.00 par value07/08/2026S3,152D$175.497(17)1,278,507D
Common Stock, $1.00 par value07/08/2026S2,003D$176.3714(18)1,276,504D
Common Stock, $1.00 par value07/08/2026S385D$177.0495(19)1,276,119D
Common Stock, $1.00 par value39,630IBy Hershey Trust Company(20)
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(22) (21) (21)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 $176.7867 to $176.9923, 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 $177.0042 to $177.9981, 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 $178.0056 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.
4. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $179.0028 to $179.9957, 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 $180.0410 to $180.5432, 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 $182.1100 to $182.2164, 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 $175.4762 to $175.9900, 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 $176.0000 to $176.9700, 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 $177.0600 to $177.9700, 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 $178.0700 to $178.9700, 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 $179.4900 to $179.9700, 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 $180.0100 to $180.8900, 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 $181.0000 to $181.9900, 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 $182.0200 to $182.1400, 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 $173.6883 to $173.9968, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $174.0348 to $174.9754, 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.
17. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0107 to $175.9921, 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.
18. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $176.0019 to $176.9960, 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.
19. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $177.0030 to $177.1232, 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.
20. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
21. 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.
22. The conversion price is the market price of the Common Stock on the previous business day.
/s/ Joshua D. Shannon, Deputy CIO07/08/2026
** 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

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