Hershey Trust sells 20,000 Hershey shares
Hershey Trust Company, as trustee for the Milton Hershey School Trust and a more than 10% owner of The Hershey Company, reported open-market sales of 20,000 shares of Hershey common stock.
Rhea-AI Filing Summary
Hershey Trust Company, as trustee for the Milton Hershey School Trust and a more than 10% owner of The Hershey Company, reported open-market sales of 20,000 shares of Hershey common stock. The sales occurred on May 21–22, 2026 across 11 transactions, with per-share prices reported as weighted averages.
The weighted-average sale prices ranged from $187.1000 to $194.9855, reflecting multiple trades within each price band. After these sales, the trust continues to hold a large position, including 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.
Insider Trade Summary 10b5-1
Net Seller: 20,000 shares
Net Sell
13 txns
Insider
HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
Role
10% Owner
Sold
20,000 shs ($3.85M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $1.00 par value | 90 | $190.56 | $17K |
| Sale | Common Stock, $1.00 par value | 634 | $191.7162 | $122K |
| Sale | Common Stock, $1.00 par value | 1,761 | $192.5147 | $339K |
| Sale | Common Stock, $1.00 par value | 1,827 | $193.4087 | $353K |
| Sale | Common Stock, $1.00 par value | 5,688 | $194.6022 | $1.11M |
| Sale | Common Stock, $1.00 par value | 255 | $187.7006 | $48K |
| Sale | Common Stock, $1.00 par value | 284 | $188.3154 | $53K |
| Sale | Common Stock, $1.00 par value | 123 | $189.613 | $23K |
| Sale | Common Stock, $1.00 par value | 3,324 | $190.5033 | $633K |
| Sale | Common Stock, $1.00 par value | 3,717 | $191.5267 | $712K |
| Sale | Common Stock, $1.00 par value | 2,297 | $192.2903 | $442K |
| 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 — 1,576,119 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 (13)
- F1. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $187.1000 to $187.9513, 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.
- F2. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $188.0454 to $188.5800, 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.
- F3. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $189.1600 to $189.8000, 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.
- F4. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $190.0300 to $190.9906, 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.
- F5. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $191.0082 to $191.9912, 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.
- F6. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $192.0051 to $192.6984, 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.
- F7. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $191.5142 to $191.9412, 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.
- F8. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $192.1235 to $192.9714, 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.
- F9. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $193.0200 to $193.9167, 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.
- F10. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $194.0226 to $194.9855, 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.
- F11. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
- F12. 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.
- F13. The conversion price is the market price of the Common Stock on the previous business day.
Key Figures
Shares sold: 20,000 shares
Number of sale transactions: 11 transactions
Lowest weighted-average sale price: $187.1000/share
+4 more
7 metrics
Shares sold
20,000 shares
Total open-market sales of HSY common stock
Number of sale transactions
11 transactions
Open-market sale entries with code S
Lowest weighted-average sale price
$187.1000/share
Price range disclosed in weighted-average footnotes
Highest weighted-average sale price
$194.9855/share
Price range disclosed in weighted-average footnotes
Convertible Class B holdings
54,612,012 shares
Class B common stock convertible share-for-share into common
Net share direction
20,000-share net sell
transactionSummary netBuySellShares and direction
Holding entries
2 entries
Non-transaction holding-type records in Form 4
Key Terms
open-market sale, weighted average price, Class B common stock, ten percent owner, +2 more
6 terms
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.
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.
ten percent owner regulatory
""is_ten_percent_owner": 1"
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 this HSY Form 4 filing?
Hershey Trust Company reported open-market sales of 20,000 shares of The Hershey Company common stock. The transactions were executed over 11 separate trades on May 21–22, 2026, at various weighted-average prices disclosed in the filing.
Does Hershey Trust Company still hold a significant stake in The Hershey Company (HSY)?
Yes. The filing shows Hershey Trust Company associated holdings of 54,612,012 shares of Class B common stock. These Class B shares are convertible share-for-share into Hershey common stock at any time, with no expiration date on the conversion right.
Who is Hershey Trust Company acting for in this HSY insider filing?
Hershey Trust Company is wholly owned by the Milton Hershey School Trust and serves as trustee for that trust. The Form 4 identifies the reporting person as Hershey Trust Company in trust for the Milton Hershey School, a more than 10% owner of HSY.
What does the Form 4 say about how the HSY sale prices were calculated?
Each reported sale price is disclosed as a weighted average price over multiple trades within a stated range. The trust undertakes to provide detailed trade-level pricing information to regulators, shareholders, or The Hershey Company upon request.
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