Hershey Trust Co (HSY) sells 30,000 common shares, retains large Class B stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hershey Trust Company, as trustee for Milton Hershey School, reported open‑market sales of The Hershey Company common stock. Over June 8–10, 2026, the reporting person sold a total of 30,000 shares of common stock in multiple transactions.
The sales occurred at weighted average prices generally between about $173.99 and $183.39 per share, with detailed price ranges disclosed for each trade. Following these sales, the reporting person holds 1,456,119 shares of common stock directly and 54,612,012 shares of Class B common stock, which is convertible share‑for‑share into common stock without an expiration date.
Positive
- None.
Negative
- None.
Insights
Large HSY shareholder executes modest open‑market sale while retaining substantial voting and economic stake.
The reporting person, Hershey Trust Company as trustee for the Milton Hershey School Trust, sold 30,000 shares of HERSHEY CO common stock in open‑market trades over three days, with weighted average prices around $174–$183 per share. These are straightforward sale transactions (code S), not option exercises or tax withholdings.
After the sales, the trust still directly holds 1,456,119 common shares plus 54,612,012 Class B common shares, which are convertible share‑for‑share into common stock with no stated expiration. Given the size of the remaining position, these transactions appear routine in scale for a major long‑term holder. The filing does not reference any Rule 10b5‑1 trading plan or other special arrangements.
Insider Trade Summary 10b5-1
Net Seller: 30,000 shares ($5,289,314)
Net Sell
20 txns
Insider
HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
Role
null
Sold
30,000 shs ($5.29M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $1.00 par value | 21 | $173.9945 | $4K |
| Sale | Common Stock, $1.00 par value | 695 | $174.5808 | $121K |
| Sale | Common Stock, $1.00 par value | 2,275 | $175.6726 | $400K |
| Sale | Common Stock, $1.00 par value | 4,588 | $176.5803 | $810K |
| Sale | Common Stock, $1.00 par value | 2,421 | $177.3671 | $429K |
| Sale | Common Stock, $1.00 par value | 2,705 | $174.655 | $472K |
| Sale | Common Stock, $1.00 par value | 5,654 | $175.5965 | $993K |
| Sale | Common Stock, $1.00 par value | 1,568 | $176.3537 | $277K |
| Sale | Common Stock, $1.00 par value | 73 | $177.1018 | $13K |
| Sale | Common Stock, $1.00 par value | 3,740 | $175.8701 | $658K |
| Sale | Common Stock, $1.00 par value | 2,585 | $176.3651 | $456K |
| Sale | Common Stock, $1.00 par value | 1,418 | $177.4607 | $252K |
| Sale | Common Stock, $1.00 par value | 963 | $178.5396 | $172K |
| Sale | Common Stock, $1.00 par value | 693 | $179.4459 | $124K |
| Sale | Common Stock, $1.00 par value | 434 | $180.4552 | $78K |
| Sale | Common Stock, $1.00 par value | 47 | $181.5112 | $9K |
| Sale | Common Stock, $1.00 par value | 36 | $182.2151 | $7K |
| Sale | Common Stock, $1.00 par value | 84 | $183.39 | $15K |
| 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 — 1,466,098 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 $175.6417 to $175.9878, 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 $176.0197 to $176.999, 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 $177.0030 to $177.9986, 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 $178.0042 to $178.9929, 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 $179.0028 to $179.9771, 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 $180.0029 to $180.9902, 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 $181.0122 to $181.9527, 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 $182.1896 to $182.2333, 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 $174.0400 to $174.9995, 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 $175.0001 to $175.9937, 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 $176.0050 to $176.9754, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $177.0101 to $177.1601, 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 $173.9936 to $173.9955, 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 $174.0400 to $174.9867, 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 $175.0100 to $175.9985, 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 $176.0000 tp $176.9900, 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 $177.0000 to $177.8600, 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: 30,000 shares
Lowest reported price range: $173.9936/share
Highest reported price range: $183.3900/share
+4 more
7 metrics
Common shares sold
30,000 shares
Net sales of HSY common stock over June 8–10, 2026
Lowest reported price range
$173.9936/share
Lower bound of one weighted‑average sale price range
Highest reported price range
$183.3900/share
Upper bound of one weighted‑average sale price range
Common shares held after sales
1,456,119 shares
Direct HSY common stock ownership following reported transactions
Class B shares held
54,612,012 shares
Class B common stock, convertible share‑for‑share into common stock
Transaction count
18 sales, 2 holdings entries
Form 4 transaction summary for June 8–10, 2026
Net buy/sell direction
Net sell of 30,000 shares
Aggregate of all buy/sell transactions in this Form 4
Key Terms
weighted average price, open-market sale, Class B common stock, 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.
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.
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
Who is the reporting person in this Hershey (HSY) Form 4 filing?
The reporting person is Hershey Trust Company, trustee for the Milton Hershey School Trust. A footnote explains that Hershey Trust Company is wholly owned by Milton Hershey School Trust and serves as its trustee, reflecting the school’s significant long‑term ownership stake in The Hershey Company.
What is the significance of Hershey’s Class B common stock reported in this filing?
The trust holds 54,612,012 shares of Class B common stock, $1.00 par value. According to the disclosure, each Class B share is convertible share‑for‑share into HSY common stock without additional payment and with no expiration date, providing long‑term flexibility over its equity position.