Hershey Trust (NYSE: HSY) sells 20,000 shares, keeps large Class B stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hershey Trust Company, trustee for Milton Hershey School, reported open‑market sales of 20,000 shares of The Hershey Company common stock. The sales occurred on May 7–8, 2026 at weighted average prices between about $182.98 and $187.31 per share across multiple trades.
Following these transactions, the filing shows direct holdings of 1,676,119 shares of common stock. The trust also directly holds 54,612,012 shares of Class B common stock, which are convertible share‑for‑share into common stock at the market price of the common stock and have no expiration date.
Positive
- None.
Negative
- None.
Insights
Charitable trust makes modest sales while retaining very large Hershey stake.
Hershey Trust Company, as trustee for Milton Hershey School, sold 20,000 Hershey common shares in open‑market trades around $183–$187 per share. The trades are reported using weighted average prices across multiple executions.
After these sales, the trust still holds 1,676,119 common shares plus 54,612,012 Class B shares that are convertible one‑for‑one into common stock with no expiration. Relative to this sizeable position, the 20,000‑share sale appears routine in scale based on the disclosed figures.
The filing does not reference a Rule 10b5‑1 trading plan, so the timing context is not detailed here. Future ownership updates, if any, would appear in subsequent ownership reports rather than being implied by this single set of transactions.
Insider Trade Summary 10b5-1
Net Seller: 20,000 shares ($3,718,770)
Net Sell
12 txns
Insider
HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
Role
null
Sold
20,000 shs ($3.72M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $1.00 par value | 240 | $184.9896 | $44K |
| Sale | Common Stock, $1.00 par value | 4,747 | $185.7467 | $882K |
| Sale | Common Stock, $1.00 par value | 4,925 | $186.3108 | $918K |
| Sale | Common Stock, $1.00 par value | 88 | $187.00 | $16K |
| Sale | Common Stock, $1.00 par value | 93 | $182.9848 | $17K |
| Sale | Common Stock, $1.00 par value | 1,195 | $183.4175 | $219K |
| Sale | Common Stock, $1.00 par value | 1,241 | $184.4347 | $229K |
| Sale | Common Stock, $1.00 par value | 1,803 | $185.4926 | $334K |
| Sale | Common Stock, $1.00 par value | 2,408 | $186.532 | $449K |
| Sale | Common Stock, $1.00 par value | 3,260 | $187.0855 | $610K |
| 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 — 1,685,879 shares (Direct, null);
Class B Common Stock, $1.00 par value — 54,612,012 shares (Direct, null);
Common Stock, $1.00 par value — 39,630 shares (Indirect, By Hershey Trust Company)
Footnotes (1)
- The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $183.0041 to $183.9929, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $184.0130 to $184.9650, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $185.0000 to $185.9891, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $186.0000 to $186.9900, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $187.0004 to $187.3100, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $184.9812 to $184.9900, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $185.0800 to $185.9900, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $186.0100 to $186.7900, 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. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust. 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. The conversion price is the market price of the Common Stock on the previous business day.
Key Figures
Common shares sold: 20,000 shares
Sale price range: $182.9848–$187.3100 per share
Common shares held after: 1,676,119 shares
+3 more
6 metrics
Common shares sold
20,000 shares
Net open‑market sales on May 7–8, 2026
Sale price range
$182.9848–$187.3100 per share
Weighted average trade ranges from footnotes F1–F8
Common shares held after
1,676,119 shares
Direct Hershey common stock position after reported sales
Class B shares held
54,612,012 shares
Direct Class B common stock, convertible 1:1 into common
Net buy/sell direction
Net sale of 20,000 shares
Transaction summary for this Form 4 period
Holding entry indirect
39,630 shares
Indirect common stock holding entry by Hershey Trust Company
Key Terms
weighted average price, Class B common stock, convertible share-for-share, conversion price, +1 more
5 terms
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 into common stock..."
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.
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.
Milton Hershey School Trust financial
"Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust."
FAQ
What did Hershey Trust Company report in this Form 4 for HSY?
Hershey Trust Company reported selling 20,000 shares of Hershey Co. common stock in open‑market transactions. The trades occurred on May 7–8, 2026 at weighted average prices around $183–$187 per share, according to the ownership filing data.
What is the significance of the Class B common stock held in HSY?
The trust directly holds 54,612,012 shares of Class B common stock, which are convertible share‑for‑share into common stock. Footnotes explain conversion occurs at the common stock’s market price, requires no additional payment, and has no expiration date under the terms described.
Who is Hershey Trust Company acting for in this HSY filing?
Hershey Trust Company is wholly owned by Milton Hershey School Trust and acts as trustee for the Milton Hershey School Trust. The reported holdings and transactions in Hershey Company stock are therefore associated with this charitable trust structure, as described in the filing’s footnotes.