Hershey trustee sells 30,000 shares under trading plan

Available on EDGAR 11/12/2026 - 04:06 PM EST Accepted by SEC EDGAR 11/12/2026 - 04:05 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

The Hershey Company (HSY) reported that Hershey Trust Company, listed as trustee for the Milton Hershey School Trust, sold 30,000 common shares in 16 transactions from November 9 through November 11, 2026. The sales were reported under a Rule 10b5-1 trading plan. Among the transactions, 1,869 shares were sold at a weighted-average price of $170.6863 on November 9, and 88 shares at $171.5800 on November 11. As of November 9, 2026, the filing lists 39,630 common shares held indirectly through Hershey Trust Company and a direct holding of 54,612,012 Class B common shares. Class B shares are convertible share-for-share into common stock and have no expiration date.

Insider Trade Summary 10b5-1

Net Seller: 30,000 shares

Net Sell 16 txns

Insider HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Role 10% Owner

Sold 30,000 shs ($5.20M)

Type	Security	Shares	Price	Value
Sale	Common Stock, $1.00 par value	88	$171.58	$15K
Sale	Common Stock, $1.00 par value F10	320	$172.6276	$55K
Sale	Common Stock, $1.00 par value F11	1,680	$173.7502	$292K
Sale	Common Stock, $1.00 par value F12	3,828	$174.4178	$668K
Sale	Common Stock, $1.00 par value F13	2,173	$175.4744	$381K
Sale	Common Stock, $1.00 par value F14	1,911	$176.383	$337K
Sale	Common Stock, $1.00 par value F7	4,112	$171.5826	$706K
Sale	Common Stock, $1.00 par value F8	2,572	$172.3244	$443K
Sale	Common Stock, $1.00 par value F9	3,316	$173.725	$576K
Sale	Common Stock, $1.00 par value F1	1,869	$170.6863	$319K
Sale	Common Stock, $1.00 par value F2	1,153	$171.4134	$198K
Sale	Common Stock, $1.00 par value F3	1,127	$172.8328	$195K
Sale	Common Stock, $1.00 par value F4	5,122	$173.3592	$888K
Sale	Common Stock, $1.00 par value F5	434	$174.2097	$76K
Sale	Common Stock, $1.00 par value F6	176	$175.9244	$31K
Sale	Common Stock, $1.00 par value	119	$176.90	$21K
Holding	Class B Common Stock, $1.00 par value F17, F16	--	--	--
Holding	Common Stock, $1.00 par value F15	--	--	--

Holdings After Transaction: Common Stock, $1.00 par value — 386,119 shares (Direct); Class B Common Stock, $1.00 par value — 54,612,012 shares (Direct); Common Stock, $1.00 par value — 39,630 shares (Indirect, By Hershey Trust Company)

Footnotes (17)

1. F1. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $170.0026 to $170.9998, 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.
2. F2. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $171.0048 to $171.9635, 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.
3. F3. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $172.2564 to $172.9857, 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.
4. F4. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.0054 to $173.9759, 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.
5. F5. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $174.0005 to $174.9604, 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.
6. F6. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0842 to $175.9900, 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.
7. F7. 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 $171.9984, 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.
8. F8. 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 $172.9808, 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.
9. F9. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.0330 to $173.9800, 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.
10. F10. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $172.4300 to $172.8500, 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.
11. F11. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.3000 to $173.9738, 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.
12. F12. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $174.0326 to $174.9828, 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.
13. F13. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0828 to $175.9800, 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.
14. F14. 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 to $176.4300, 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.
15. F15. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
16. F16. 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.
17. F17. The conversion price is the market price of the Common Stock on the previous business day.

Key Figures

Common shares sold: 30,000 shares Weighted-average sale price: $170.6863 per share Sale price: $171.5800 per share +2 more

5 metrics

Common shares sold 30,000 shares 16 transactions from November 9 through November 11, 2026; reported under a Rule 10b5-1 trading plan

Weighted-average sale price $170.6863 per share 1,869 shares sold November 9, 2026

Sale price $171.5800 per share 88 shares sold November 11, 2026

Indirect common-share holding 39,630 shares Reported as held indirectly as of November 9, 2026

Direct Class B common-share holding 54,612,012 shares Reported as held directly as of November 9, 2026; convertible share-for-share into common stock

Key Terms

Rule 10b5-1 trading plan, weighted average price, Class B common stock, share-for-share

4 terms

Rule 10b5-1 trading plan regulatory

"the reported sales from November 9 through November 11, 2026"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"the price reported for the 1,869-share sale"

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 technical

"the direct holding reported as of November 9, 2026"

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.

share-for-share technical

"the conversion of Class B common stock into common stock"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many HSY shares did Hershey Trust Company sell, and when?

Hershey Trust Company reported selling 30,000 common shares in 16 transactions from November 9 through November 11, 2026, under a Rule 10b5-1 trading plan.

What Hershey shares did the trust report holding?

As of November 9, 2026, it reported 39,630 common shares held indirectly through Hershey Trust Company and 54,612,012 Class B common shares held directly. The Class B shares are convertible share-for-share into common stock and have no expiration date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

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^*

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

(Last) (First) (Middle)

1 EAST CHOCOLATE AVENUE

SUITE 400

(Street)

HERSHEY PENNSYLVANIA 17033

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HERSHEY CO [ HSY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/09/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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, $1.00 par value	11/09/2026		S		1,869	D	$170.6863(1)	414,250	D
Common Stock, $1.00 par value	11/09/2026		S		1,153	D	$171.4134(2)	413,097	D
Common Stock, $1.00 par value	11/09/2026		S		1,127	D	$172.8328(3)	411,970	D
Common Stock, $1.00 par value	11/09/2026		S		5,122	D	$173.3592(4)	406,848	D
Common Stock, $1.00 par value	11/09/2026		S		434	D	$174.2097(5)	406,414	D
Common Stock, $1.00 par value	11/09/2026		S		176	D	$175.9244(6)	406,238	D
Common Stock, $1.00 par value	11/09/2026		S		119	D	$176.9	406,119	D
Common Stock, $1.00 par value	11/10/2026		S		4,112	D	$171.5826(7)	402,007	D
Common Stock, $1.00 par value	11/10/2026		S		2,572	D	$172.3244(8)	399,435	D
Common Stock, $1.00 par value	11/10/2026		S		3,316	D	$173.725(9)	396,119	D
Common Stock, $1.00 par value	11/11/2026		S		88	D	$171.58	396,031	D
Common Stock, $1.00 par value	11/11/2026		S		320	D	$172.6276(10)	395,711	D
Common Stock, $1.00 par value	11/11/2026		S		1,680	D	$173.7502(11)	394,031	D
Common Stock, $1.00 par value	11/11/2026		S		3,828	D	$174.4178(12)	390,203	D
Common Stock, $1.00 par value	11/11/2026		S		2,173	D	$175.4744(13)	388,030	D
Common Stock, $1.00 par value	11/11/2026		S		1,911	D	$176.383(14)	386,119	D
Common Stock, $1.00 par value								39,630	I	By Hershey Trust Company(15)

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
Class B Common Stock, $1.00 par value	(17)							(16)	(16)	Common Stock, $1.00 par value	54,612,012		54,612,012	D

Explanation of Responses:

1. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $170.0026 to $170.9998, 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.

2. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $171.0048 to $171.9635, 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.

3. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $172.2564 to $172.9857, 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.

4. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.0054 to $173.9759, 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.

5. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $174.0005 to $174.9604, 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.

6. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0842 to $175.9900, 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.

7. 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 $171.9984, 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.

8. 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 $172.9808, 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.

9. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.0330 to $173.9800, 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.

10. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $172.4300 to $172.8500, 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.

11. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.3000 to $173.9738, 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.

12. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $174.0326 to $174.9828, 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.

13. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0828 to $175.9800, 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.

14. 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 to $176.4300, 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.

15. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.

16. 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.

17. The conversion price is the market price of the Common Stock on the previous business day.

	/s/ Muzzamil Mussani, VP, Investment Operations and Portfolio Analytics	11/12/2026
	** 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.
* Form 4: SEC 1474 (03-26)