[Form 4] HERSHEY CO Insider Trading Activity

Rhea-AI Filing Summary

Hershey Co. director Kevin M. Ozan reported an acquisition of company common stock on 10/01/2025. The filing discloses an A (acquisition) transaction of 225.07 shares at a reported price of $0, bringing his direct beneficial ownership to 1,590.464 shares. The form notes that the direct ownership total includes 10.007 shares acquired on 09/15/2025 through a dividend reinvestment feature of the Company’s Directors' Compensation Plan, which the filing says is substantially similar to the broad-based plan for stockholders. The Form 4 was submitted by an agent and signed on 10/03/2025.

Insights

Corporate Governance Analyst

Director purchase increases insider stake modestly.

The reported 225.07-share acquisition by Director Kevin M. Ozan is recorded as part of compensation-related activity rather than an open-market cash purchase, shown by a price of $0. This increases his direct holdings to 1,590.464 shares, including 10.007 shares from a dividend reinvestment on 09/15/2025.

Because the filing ties the shares to the Company’s Directors' Compensation Plan, the transaction is governance-related and not a market signal; it documents insider alignment with equity-based pay but does not disclose a cash investment or change in control.

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

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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).

1. Name and Address of Reporting Person^*

OZAN KEVIN M

(Last) (First) (Middle)

19 E. CHOCOLATE AVENUE, HERSHEY, PA 1703

(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)
10/01/2025

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	10/01/2025		A		225.07	A	$0	1,590.464	D(1)

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:

1. The total amount of securities reported as directly owned in Column 5 includes 10.007 shares acquired on September 15, 2025, pursuant to a dividend reinvestment feature of the Company's Directors' Compensation Plan, the provisions of which are substantially similar to the dividend reinvestment features of the broad-based dividend reinvestment plan available generally to Company stockholders.

	/s/ Kathleen S. Purcell, Agent for Kevin M. Ozan	10/03/2025
	** 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 did Kevin M. Ozan report in the Form 4 for HSY?

The filing reports an acquisition of 225.07 shares on 10/01/2025, increasing his direct ownership to 1,590.464 shares.

Was the 225.07-share transaction a cash purchase?

The Form 4 lists the price as $0, indicating the shares were acquired under compensation terms rather than an open-market cash purchase.

Does the filing include dividend reinvestment activity?

Yes. The filing notes 10.007 shares were acquired on 09/15/2025 through the Directors' Compensation Plan's dividend reinvestment feature.

When was the Form 4 filed/signed?

The Form 4 was signed by an agent on 10/03/2025 and reports the transaction date of 10/01/2025.

How many shares does Ozan directly own after the reported transaction?

Following the reported acquisition, his direct beneficial ownership is 1,590.464 shares.