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Hershey Trust sells 30,000 HERSHEY CO (NYSE: HSY) shares

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Form Type
4

Rhea-AI Filing Summary

Hershey Trust Company, trustee for Milton Hershey School and a 10% owner of HERSHEY CO, reported open‑market or private sales totaling 30,000 shares of common stock from July 20–22, 2026 at weighted‑average prices including $168.8400, $170.4735 and $172.2865 per share under a Rule 10b5‑1 trading plan. It continues to hold 54,612,012 Class B common shares convertible share‑for‑share into common stock, plus 39,630 common shares held indirectly through Hershey Trust Company.

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Insider HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
Role 10% Owner
Sold 30,000 shs ($5.14M)
Type Security Shares Price Value
Sale Common Stock, $1.00 par value F8 125 $170.8714 $21K
Sale Common Stock, $1.00 par value F9 4,084 $171.6988 $701K
Sale Common Stock, $1.00 par value F10 5,791 $172.2865 $998K
Sale Common Stock, $1.00 par value F5 1,384 $169.8714 $235K
Sale Common Stock, $1.00 par value F6 8,387 $170.4112 $1.43M
Sale Common Stock, $1.00 par value F7 189 $171.1233 $32K
Sale Common Stock, $1.00 par value 40 $172.06 $7K
Sale Common Stock, $1.00 par value 18 $168.84 $3K
Sale Common Stock, $1.00 par value F1 1,375 $169.5897 $233K
Sale Common Stock, $1.00 par value F2 2,703 $170.4735 $461K
Sale Common Stock, $1.00 par value F3 4,448 $171.6539 $764K
Sale Common Stock, $1.00 par value F4 1,456 $172.1679 $251K
holding Class B Common Stock, $1.00 par value F13, F12 -- -- --
holding Common Stock, $1.00 par value F11 -- -- --
Holdings After Transaction: Common Stock, $1.00 par value — 1,176,119 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 (13)
  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 $169.0500 to $169.9900, 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.
  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 $170.0000 to $170.9900, 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.
  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 $171.0000 to $171.9900, 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.
  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 $172.0000 to $172.7600, 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 $169.5400 to $169.9966, 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 $170.0000 to $170.9937, 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 $171.2651, 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 $170.8700 to $170.8768, 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 $171.0500 to $171.9980, 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 $172.0018 to $172.6234, 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. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
  12. 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.
  13. F13. The conversion price is the market price of the Common Stock on the previous business day.
Common shares sold 30,000 shares Total HERSHEY CO common shares sold July 20–22, 2026
Sale price example $168.8400 per share Weighted‑average price for an 18‑share sale on July 20, 2026
Sale block example 8,387 shares Common shares sold at $170.4112 on July 21, 2026
Convertible Class B shares held 54,612,012 shares Class B common stock directly held, convertible share‑for‑share into common
Indirect common shares held 39,630 shares Common stock held indirectly by Hershey Trust Company
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 into common stock"
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.
convertible share-for-share financial
"Class B common stock, $1.00 par value convertible share-for-share into common stock"

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FAQ

What insider activity did Hershey Trust Company report for HSY?

Hershey Trust Company reported sales of 30,000 shares of HERSHEY CO common stock, executed between July 20 and July 22, 2026. These were open‑market or private transactions at weighted‑average prices, and were made under a Rule 10b5‑1 trading plan.

How many HSY shares did Hershey Trust Company sell and at what prices?

The trust sold 30,000 HSY common shares in multiple trades. Reported weighted‑average prices include $168.8400, $170.4735 and $172.2865 per share, each representing numerous individual transactions within narrow intraday price ranges disclosed in the footnotes.

Were the HSY share sales by Hershey Trust Company under a Rule 10b5-1 plan?

Yes. The filing affirms the transactions were executed under a Rule 10b5‑1 trading plan. Such pre‑arranged plans allow trades to occur according to preset instructions, reducing the significance of trade timing as an indicator of insider views on HERSHEY CO (HSY).

Over which dates did Hershey Trust Company’s HSY transactions occur?

Reported HSY transactions occurred on July 20, 21, and 22, 2026. Across these three trading days, Hershey Trust Company completed a series of open‑market or private sales, aggregating 30,000 shares of HERSHEY CO common stock at various weighted‑average prices.

What is the significance of the Class B common stock reported for HSY?

The filing shows 54,612,012 Class B common shares, each convertible share‑for‑share into HSY common stock with no expiration date. This structure preserves long‑term flexibility to convert into regular common shares based on the prevailing market price.
SEC Form 4
FORM 4UNITED 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)
DirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/20/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock, $1.00 par value07/20/2026S18D$168.841,206,101D
Common Stock, $1.00 par value07/20/2026S1,375D$169.5897(1)1,204,726D
Common Stock, $1.00 par value07/20/2026S2,703D$170.4735(2)1,202,023D
Common Stock, $1.00 par value07/20/2026S4,448D$171.6539(3)1,197,575D
Common Stock, $1.00 par value07/20/2026S1,456D$172.1679(4)1,196,119D
Common Stock, $1.00 par value07/21/2026S1,384D$169.8714(5)1,194,735D
Common Stock, $1.00 par value07/21/2026S8,387D$170.4112(6)1,186,348D
Common Stock, $1.00 par value07/21/2026S189D$171.1233(7)1,186,159D
Common Stock, $1.00 par value07/21/2026S40D$172.061,186,119D
Common Stock, $1.00 par value07/22/2026S125D$170.8714(8)1,185,994D
Common Stock, $1.00 par value07/22/2026S4,084D$171.6988(9)1,181,910D
Common Stock, $1.00 par value07/22/2026S5,791D$172.2865(10)1,176,119D
Common Stock, $1.00 par value39,630IBy Hershey Trust Company(11)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Class B Common Stock, $1.00 par value(13) (12) (12)Common Stock, $1.00 par value54,612,01254,612,012D
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 $169.0500 to $169.9900, 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.
2. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $170.0000 to $170.9900, 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.
3. 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 $171.9900, 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.
4. 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 $172.7600, 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 $169.5400 to $169.9966, 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 $170.0000 to $170.9937, 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 $171.2651, 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 $170.8700 to $170.8768, 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 $171.0500 to $171.9980, 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 $172.0018 to $172.6234, 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. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
12. 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.
13. The conversion price is the market price of the Common Stock on the previous business day.
/s/ Joshua D. Shannon, Deputy CIO07/22/2026
** Signature of Reporting PersonDate
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)