Hershey Co (HSY) insider Hershey Trust sells 20,000 common shares while keeping large Class B stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hershey Trust Company, as trustee for Milton Hershey School and a more-than-ten-percent owner of The Hershey Company, reported open-market sales totaling 20,000 shares of common stock on July 9–10, 2026 at prices around $171–$174 per share. The reporting person also reports indirect ownership of 39,630 shares of common stock and direct ownership of 54,612,012 shares of Class B common stock that are convertible share-for-share into common stock without an expiration date.
Positive
- None.
Negative
- None.
Insights
Large Hershey beneficiary sold 20,000 common shares while retaining a substantial Class B stake.
Hershey Trust Company, trustee for Milton Hershey School and a more-than-ten-percent owner of HERSHEY CO, reported open-market sales of 20,000 common shares on July 9–10, 2026 at prices in the $171–$174 range. These are ordinary share sales coded "S" as non-derivative, open-market transactions.
After these trades, the reporting person still reports indirect ownership of 39,630 common shares and a direct position in 54,612,012 Class B common shares, which are convertible share-for-share into common stock with no stated expiration. This indicates that, despite the net-sell activity, a very large economic and voting interest remains.
Footnotes state that reported sale prices are weighted average prices over multiple trades within specified intraday ranges. They also clarify that the Class B shares are convertible into common stock at the market price of the common stock on the previous business day, providing flexibility for future conversions if desired.
Insider Trade Summary 10b5-1
Net Seller: 20,000 shares ($3,447,688)
Net Sell
10 txns
Insider
HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
Role
null
Sold
20,000 shs ($3.45M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $1.00 par value | 1,031 | $171.7933 | $177K |
| Sale | Common Stock, $1.00 par value | 4,444 | $172.4309 | $766K |
| Sale | Common Stock, $1.00 par value | 3,869 | $173.585 | $672K |
| Sale | Common Stock, $1.00 par value | 656 | $174.1141 | $114K |
| Sale | Common Stock, $1.00 par value | 338 | $170.9564 | $58K |
| Sale | Common Stock, $1.00 par value | 6,389 | $171.5197 | $1.10M |
| Sale | Common Stock, $1.00 par value | 2,665 | $172.4322 | $460K |
| Sale | Common Stock, $1.00 par value | 608 | $173.2107 | $105K |
| 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 — 1,265,088 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 $170.9200 to $170.9900, 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 $171.0000 to $171.9959, 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 $172.0000 to $172.9600, 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 $173.0000 to $173.7500, 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 $171.3900 to $171.9800, 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 $172.0000 to $172.9900, 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 $173.0000 to $173.9900, 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 $174.0000 to $174.2500, 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
Total common shares sold: 20,000 shares
Example sale price: $174.1141 per share
Another sale price: $171.7933 per share
+3 more
6 metrics
Total common shares sold
20,000 shares
Net open-market sales of common stock reported for July 9–10, 2026
Example sale price
$174.1141 per share
Price per share for a 656-share open-market sale of common stock
Another sale price
$171.7933 per share
Price per share for a 1,031-share open-market sale of common stock
Indirect common stock holding
39,630 shares
Indirect ownership of Hershey common stock reported as of July 9, 2026
Class B shares outstanding for reporter
54,612,012 shares
Directly owned Class B common stock, convertible share-for-share into common stock
Net buy/sell direction
net-sell of 20,000 shares
Transaction summary across all reported common stock trades
Key Terms
weighted average price, Class B common stock, share-for-share, conversion price
4 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.
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.
FAQ
What did Hershey Trust Company report in the latest Form 4 for HSY?
Hershey Trust Company reported open-market sales of 20,000 shares of HERSHEY CO common stock on July 9–10, 2026, with trades executed around $171–$174 per share, according to the Form 4 filing.
What ongoing HSY ownership did Hershey Trust Company report in this filing?
The filing shows indirect ownership of 39,630 HSY common shares and direct ownership of 54,612,012 Class B common shares, which are convertible share-for-share into common stock with no expiration date mentioned.
What is notable about Hershey’s Class B common stock in the HSY Form 4?
The Class B common stock, of which 54,612,012 shares are reported, is described as convertible share-for-share into HSY common stock at the market price on the previous business day, with no expiration date.
Are the HSY sale prices in the Hershey Trust Company Form 4 exact or averages?
The reported sale prices are weighted average prices. Footnotes explain shares were sold in multiple trades within specified price ranges, and detailed per-trade information is available upon request.