Hershey Trust sells 20,000 Hershey Co shares

Hershey Trust Company, as trustee for Milton Hershey School and a more than 10% owner of Hershey Co (HSY), reported open-market sales of a total of 20,000 shares of common stock on August 13–14, 2026 under a Rule 10b5-1 trading plan.

Rhea-AI Filing Summary

Hershey Trust Company, as trustee for Milton Hershey School and a more than 10% owner of Hershey Co (HSY), reported open-market sales of a total of 20,000 shares of common stock on August 13–14, 2026 under a Rule 10b5-1 trading plan. The sales occurred in multiple transactions at weighted average prices between roughly $183.66 and $186.63 per share. The reporting person continues to hold 54,612,012 shares of Class B common stock directly, convertible share-for-share into common stock, and 39,630 shares of common stock indirectly through 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 ($3.70M)

Type	Security	Shares	Price	Value
Sale	Common Stock, $1.00 par value F3	392	$183.8236	$72K
Sale	Common Stock, $1.00 par value F4	9,528	$184.3525	$1.76M
Sale	Common Stock, $1.00 par value F5	80	$185.1833	$15K
Sale	Common Stock, $1.00 par value F1	4,089	$185.8112	$760K
Sale	Common Stock, $1.00 par value F2	5,911	$186.1995	$1.10M
holding	Class B Common Stock, $1.00 par value F8, F7	--	--	--
holding	Common Stock, $1.00 par value F6	--	--	--

Holdings After Transaction: Common Stock, $1.00 par value — 1,006,119 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 (8)

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 $185.0900 to $185.9988, 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 $186.0000 to $186.6252, 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 $183.6560 to $183.9991, 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 $184.0100 to $184.9300, 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 $185.1400 to $185.5047, 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. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
7. F7. 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.
8. F8. The conversion price is the market price of the Common Stock on the previous business day.

Key Figures

Total shares sold: 20,000 shares Sale on 2026-08-13: 4,089 shares at $185.8112 per share Sale on 2026-08-13: 5,911 shares at $186.1995 per share +5 more

8 metrics

Total shares sold 20,000 shares Aggregate HSY common stock sold on August 13–14, 2026, across five sale transactions

Sale on 2026-08-13 4,089 shares at $185.8112 per share Open-market sale of HSY common stock with weighted average price; price range $185.0900–$185.9988

Sale on 2026-08-13 5,911 shares at $186.1995 per share Open-market sale of HSY common stock with weighted average price; price range $186.0000–$186.6252

Sale on 2026-08-14 392 shares at $183.8236 per share Open-market sale of HSY common stock; weighted average price within $183.6560–$183.9991

Sale on 2026-08-14 9,528 shares at $184.3525 per share Open-market sale of HSY common stock; weighted average price within $184.0100–$184.9300

Sale on 2026-08-14 80 shares at $185.1833 per share Open-market sale of HSY common stock; weighted average price within $185.1400–$185.5047

Class B underlying shares 54,612,012 shares Directly held Class B common stock, convertible share-for-share into HSY common stock

Indirect common shares 39,630 shares HSY common stock held indirectly "By Hershey Trust Company"

Key Terms

weighted average price, Class B common stock, indirect ownership, convertible share-for-share, +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"

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.

indirect ownership financial

"Common Stock, $1.00 par value ... ownership_type "indirect""

convertible share-for-share financial

"Class B common stock, $1.00 par value convertible share-for-share into common stock"

market price financial

"The conversion price is the market price of the Common Stock on the previous business day."

Market price is the current amount buyers are willing to pay and sellers are willing to accept for a share or other security at a given moment, like the tag on an item in a busy shop that changes with demand. It matters to investors because it determines what you would receive when selling or what you must pay to buy now, reflecting supply, demand and recent news that affect perceived value.

FAQ

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

What did the Form 4 filed for HSY by Hershey Trust Company report?

The Form 4 for HSY reported that Hershey Trust Company, as trustee for Milton Hershey School, sold 20,000 shares of Hershey common stock on August 13–14, 2026 in open-market transactions executed under a Rule 10b5-1 trading plan.

How many HSY shares were sold in each transaction on August 13–14, 2026?

For HSY, the reporting person sold 4,089 and 5,911 shares on August 13, and 392, 9,528, and 80 shares on August 14, 2026, totaling 20,000 shares of Hershey common stock in five separate sale transactions.

At what prices were the HSY shares sold according to the Form 4?

The HSY shares were sold at weighted average prices of $185.8112, $186.1995, $183.8236, $184.3525, and $185.1833 per share. Footnotes state these are weighted average prices, with individual trades executed within specified price ranges for each group of sales.

Were the HSY stock sales by Hershey Trust Company made under a Rule 10b5-1 plan?

Yes. The filing for HSY indicates the transactions were effected pursuant to a Rule 10b5-1 trading plan, as shown by the affirmative 10b5-1 checkbox, meaning the sales followed a pre-arranged trading schedule rather than discretionary timing decisions.

How many Hershey Co shares does the reporting person still hold after these HSY sales?

After the reported HSY sales, the reporting person holds 54,612,012 Class B common shares directly, each convertible share-for-share into Hershey common stock, and 39,630 common shares indirectly "By Hershey Trust Company," according to the holding entries in the Form 4.

What is the significance of the Class B common stock position reported for HSY?

The Form 4 for HSY lists 54,612,012 shares of Class B common stock held directly, which are "convertible share-for-share into common stock" with no expiration date. A footnote states the conversion price is the market price of HSY common stock on the previous business day.

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

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Available on EDGAR 08/17/2026 - 04:07 PM EDT Accepted by SEC EDGAR 08/17/2026 - 04:05 PM EDT Learn about SEC filing dates

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

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)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $1.00 par value	08/13/2026		S		4,089	D	$185.8112(1)	1,022,030	D
Common Stock, $1.00 par value	08/13/2026		S		5,911	D	$186.1995(2)	1,016,119	D
Common Stock, $1.00 par value	08/14/2026		S		392	D	$183.8236(3)	1,015,727	D
Common Stock, $1.00 par value	08/14/2026		S		9,528	D	$184.3525(4)	1,006,199	D
Common Stock, $1.00 par value	08/14/2026		S		80	D	$185.1833(5)	1,006,119	D
Common Stock, $1.00 par value								39,630	I	By Hershey Trust Company(6)

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
Class B Common Stock, $1.00 par value	(8)							(7)	(7)	Common Stock, $1.00 par value	54,612,012		54,612,012	D

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 $185.0900 to $185.9988, 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 $186.0000 to $186.6252, 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 $183.6560 to $183.9991, 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 $184.0100 to $184.9300, 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 $185.1400 to $185.5047, 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. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.

7. 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.

8. The conversion price is the market price of the Common Stock on the previous business day.

	/s/ Joshua D. Shannon, Deputy CIO	08/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)