Hershey (HSY) Form 4: Director Timothy Curoe purchases shares

Rhea-AI Filing Summary

Timothy W. Curoe, a director of The Hershey Company (HSY), executed an open-market purchase of 141.464 shares of Hershey common stock on 09/15/2025 at a reported price of $185.56 per share. After the transaction, Mr. Curoe beneficially owned 632.393 shares. The Form 4 was filed on 09/17/2025 and is signed by an agent, Kathleen S. Purcell. The filing discloses a straightforward non-derivative acquisition with no additional explanatory text or 10b5-1 plan checkbox indicated.

Positive

• Director purchase recorded, indicating personal investment by an insider in HSY shares
• Transaction fully disclosed with price ($185.56) and post-transaction ownership (632.393 shares)

Negative

• None.

Insights

Securities Analyst

TL;DR: A company director purchased 141.464 HSY shares at $185.56, modestly increasing insider ownership.

This disclosure records a routine open-market purchase by a director rather than a large, strategic acquisition. The purchase increases the director's holdings to 632.393 shares, which remains a relatively small absolute position for a public-company director. There is no indication in the filing of derivative transactions, planned sales, or material changes to compensation or control. For investors, this is a neutral-to-slightly-positive signal of personal confidence by an insider, but the absolute size appears limited and unlikely to be material to valuation.

Corporate Governance Expert

TL;DR: Director-level insider bought shares; filing is standard and properly executed, with no governance red flags.

The Form 4 is completed with required fields: reporting person, relationship (Director), transaction date, code indicating acquisition, number of shares acquired, price per share, and post-transaction beneficial ownership. The signature is provided by an authorized agent and dated. There are no amendments, no disclosure of a Rule 10b5-1 plan, and no indirect ownership notes. From a governance perspective, the filing is compliant and routine.

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
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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^*

Curoe Timothy William

(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)
09/15/2025

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	09/15/2025		A		141.464	A	$185.56	632.393	D

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:

	/s/ Kathleen S. Purcell, Agent for Timothy W. Curoe	09/17/2025
	** 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 transaction did HSY director Timothy W. Curoe report on the Form 4?

The Form 4 reports a purchase of 141.464 shares of Hershey common stock on 09/15/2025 at a price of $185.56 per share.

How many HSY shares does Timothy W. Curoe own after the reported transaction?

Following the transaction, Mr. Curoe beneficially owned 632.393 shares of HSY common stock.

When was the Form 4 for Timothy W. Curoe filed?

The Form 4 was signed and filed on 09/17/2025 by an agent, Kathleen S. Purcell.

Does the filing indicate use of a 10b5-1 trading plan or any derivatives?

No. The filing contains no checkbox or explanation indicating a Rule 10b5-1 plan and reports only a non-derivative open-market acquisition.

Is the transaction reported on this Form 4 material to Hershey (HSY)?

The filing itself does not state materiality. The transaction size (141.464 shares) and resulting ownership (632.393 shares) suggest a limited, likely non-material change in insider holdings based on the information provided.