HSY Form 4: Director Juan R. Perez increases stake to 6,690.521 shares

Rhea-AI Filing Summary

Insider purchase reported: Hershey director Juan R. Perez purchased 33.682 shares of Hershey Co. common stock on 09/15/2025 at a price of $185.56 per share, bringing his total beneficial ownership to 6,690.521 shares. The Form 4 was signed by an agent on 09/17/2025. No derivative transactions or additional explanatory details are included in the filing.

Positive

• Director purchase disclosed, indicating the reporting person increased their ownership by 33.682 shares at $185.56
• Form 4 includes transaction date, price, and resulting beneficial ownership, showing compliance with Section 16 reporting

Negative

• None.

Insights

Financial Analyst

Small director buy recorded; signal modest insider confidence but limited market impact.

The filing documents a direct purchase of 33.682 shares at $185.56, increasing the director's beneficial holdings to 6,690.521 shares. While insider purchases can be interpreted as alignment with shareholder interests, the disclosed size is modest and the filing contains no information about the director's overall stake as a percentage of outstanding shares or any planned trading program. There are no derivative transactions or other material changes reported.

Corporate Governance Expert

Proper Section 16 reporting of a routine director purchase; documentation appears complete.

The Form 4 shows the reporting relationship (director) and a single non-derivative acquisition. The form is signed by an agent and includes transaction date, price, and resulting beneficial ownership. There is no indication of Rule 10b5-1 plan reliance and no amendments or additional disclosures. From a governance perspective, the filing meets standard disclosure requirements without revealing material governance issues.

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).

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^*

Perez Juan R.

(Last) (First) (Middle)

19 EAST 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		33.682	A	$185.56	6,690.521	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 Juan R. Perez	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 Juan R. Perez report on the Form 4 for HSY?

The Form 4 reports a direct purchase of 33.682 shares of Hershey Co. common stock on 09/15/2025 at $185.56 per share.

How many Hershey shares does Juan R. Perez beneficially own after the reported trade?

Following the transaction, he beneficially owns 6,690.521 shares.

Did the Form 4 include any derivative transactions or option exercises?

No. The filing contains only a non-derivative purchase entry and lists no derivative securities.

Was the Form 4 filed jointly or by a single reporting person?

The filing was made by one reporting person (Form filed by one reporting person is checked).

Who signed the Form 4 and when was it signed?

The form was signed by /s/ Kathleen S. Purcell, Agent for Juan R. Perez on 09/17/2025.