Hershey Trust Co (NYSE: HSY) trims stake with 20,000-share sale
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hershey Trust Company, trustee for the Milton Hershey School, reported open‑market sales of 20,000 shares of The Hershey Company common stock. The sales occurred on May 26–27, 2026 at weighted average prices generally between about $190 and $199 per share, executed in multiple transactions at varying prices within these ranges. The Form 4 also shows the trust with Class B common stock convertible share‑for‑share into common stock, covering 54,612,012 underlying common shares with no stated expiration and a conversion price based on the common stock’s market price on the previous business day.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 20,000 shares ($3,901,627)
Net Sell
14 txns
Insider
HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
Role
null
Sold
20,000 shs ($3.90M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, $1.00 par value | 146 | $194.7874 | $28K |
| Sale | Common Stock, $1.00 par value | 334 | $195.403 | $65K |
| Sale | Common Stock, $1.00 par value | 262 | $196.5861 | $52K |
| Sale | Common Stock, $1.00 par value | 2,558 | $197.7599 | $506K |
| Sale | Common Stock, $1.00 par value | 3,700 | $198.7541 | $735K |
| Sale | Common Stock, $1.00 par value | 3,000 | $199.2489 | $598K |
| Sale | Common Stock, $1.00 par value | 1,774 | $190.7327 | $338K |
| Sale | Common Stock, $1.00 par value | 4,542 | $191.1788 | $868K |
| Sale | Common Stock, $1.00 par value | 2,484 | $192.4841 | $478K |
| Sale | Common Stock, $1.00 par value | 700 | $193.0586 | $135K |
| Sale | Common Stock, $1.00 par value | 400 | $194.6138 | $78K |
| Sale | Common Stock, $1.00 par value | 100 | $196.00 | $20K |
| 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 — 1,565,973 shares (Direct, null);
Class B Common Stock, $1.00 par value — 54,612,012 shares (Direct, null);
Common Stock, $1.00 par value — 39,630 shares (Indirect, By Hershey Trust Company)
Footnotes (1)
- The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $190.4100 to $190.9810, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $191.0038 to $191.9700, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $192.0200 to $192.9700, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $193.0000 to $193.1750, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $194.3750 to $194.9400, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $194.7000 to $194.9740, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $195.0682 to $195.9902, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $196.1267 to $196.9826, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $197.1070 to $197.9900, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $198.0200 to $198.9983, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $199.0015 to $199.8605, 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. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust. 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. The conversion price is the market price of the Common Stock on the previous business day.
Key Figures
Shares sold: 20,000 shares
Price range example: $190.4100–$190.9810/share
Highest disclosed price band: $199.0015–$199.8605/share
+3 more
6 metrics
Shares sold
20,000 shares
Total common stock sold in open-market transactions
Price range example
$190.4100–$190.9810/share
One disclosed weighted-average price range for sales
Highest disclosed price band
$199.0015–$199.8605/share
Upper weighted-average price range from footnotes
Convertible Class B underlying shares
54,612,012 shares
Underlying common shares for Class B common stock position
Indirect common stock holding
39,630 shares
Common stock held indirectly by Hershey Trust Company
Insider status
10% owner
Hershey Trust Company’s status as a major shareholder
Key Terms
open-market sale, weighted average price, Class B common stock, underlying security, +1 more
5 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 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.
underlying security financial
"underlying_security_title": "Common Stock, $1.00 par value""
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 totaling 20,000 shares of The Hershey Company common stock. These transactions were executed over two days at weighted average prices within specified ranges around $190–$199 per share, as detailed in the filing footnotes.
What is the significance of the Class B common stock in this HSY Form 4?
The filing shows holdings of Class B common stock that are convertible share-for-share into common stock. Footnotes state there are 54,612,012 underlying common shares, with a conversion price equal to the common stock’s market price on the previous business day and no expiration date.
Is Hershey Trust Company considered a major holder of The Hershey Company (HSY)?
Yes. The Form 4 identifies Hershey Trust Company, as trustee for the Milton Hershey School, as a 10% owner of The Hershey Company. This status reflects its large equity position, including substantial holdings of convertible Class B common stock disclosed in the filing.