Hershey Co (HSY) director boosts holdings with 246.697-share stock award

Rhea-AI Filing Summary

Hershey Co director Deirdre Mahlan reported acquiring additional common stock through a compensation-related plan. On 01/01/2026, she acquired 246.697 shares of Hershey common stock at a price of $0, reflecting non-cash equity awarded under the company’s arrangements for directors.

After this transaction, she beneficially owned 875.163 shares of Hershey common stock in direct form. This total includes 4.544 shares acquired on December 15, 2025 through a dividend reinvestment feature of the company’s Directors’ Compensation Plan, which operates similarly to the dividend reinvestment plan available to other stockholders.

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).

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^*

Mahlan Deirdre

(Last) (First) (Middle)

19 E. CHOCOLATE AVENUE

(Street)

HERSHEY PA 17033

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HERSHEY CO [ HSY ]

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)
01/01/2026

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
Common Stock	01/01/2026		A		246.697	A	$0	875.163	D(1)

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

Explanation of Responses:

1. The total amount of securities reported as directly owned in Column 5 includes 4.544 shares acquired on December 15, 2025, pursuant to a dividend reinvestment feature of the Company's Directors' Compensation Plan, the provisions of which are substantially similar to the dividend reinvestment features of the broad-based dividend reinvestment plan available generally to Company stockholders.

	/s/ Kathleen S. Purcell, Agent for Deirdre Mahlan	01/05/2026
	** Signature of Reporting Person	Date
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.

FAQ

What insider transaction did Hershey Co (HSY) report for director Deirdre Mahlan?

Hershey Co (HSY) reported that director Deirdre Mahlan acquired 246.697 shares of common stock on 01/01/2026, recorded at a price of $0 per share as a non-cash equity award.

How many Hershey Co (HSY) shares does Deirdre Mahlan own after this transaction?

Following the reported transaction, Deirdre Mahlan beneficially owned 875.163 shares of Hershey Co common stock in direct form.

Was the Hershey Co (HSY) insider transaction a purchase or sale?

The Form 4 shows an acquisition (coded "A") of 246.697 shares of Hershey Co common stock, with no shares reported as disposed of.

What was the price for the Hershey Co (HSY) shares acquired by the director?

The 246.697 shares of Hershey Co common stock acquired by the director on 01/01/2026 were reported at a price of $0 per share, indicating a non-cash grant under a plan.

How were some of Deirdre Mahlan’s Hershey Co (HSY) shares obtained before this transaction?

The total directly owned shares include 4.544 shares acquired on December 15, 2025 through a dividend reinvestment feature of the company’s Directors’ Compensation Plan.

What is the nature of the plan referenced in the Hershey Co (HSY) Form 4?

The Form 4 notes that certain shares were acquired via the company’s Directors’ Compensation Plan, whose dividend reinvestment feature is described as substantially similar to the broad-based dividend reinvestment plan available to other Hershey stockholders.