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Hershey Trust sells 30,000 Hershey Co shares in July

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Form Type
4

Rhea-AI Filing Summary

Hershey Trust Company, as trustee for the Milton Hershey School Trust and a more than 10% stockholder of Hershey Co, reported open‑market sales of 30,000 common shares (par $1.00) from July 13–15, 2026 at weighted‑average prices between about $169.44 and $177.64 per share. It continues to hold a large position, including 54,612,012 Class B common shares directly, convertible share‑for‑share into common stock with no expiration, and 39,630 common shares held indirectly by 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 ($5.18M)
Type Security Shares Price Value
Sale Common Stock, $1.00 par value F12 2,091 $169.7823 $355K
Sale Common Stock, $1.00 par value F13 4,916 $170.355 $837K
Sale Common Stock, $1.00 par value F14 2,305 $171.3587 $395K
Sale Common Stock, $1.00 par value F15 688 $172.3015 $119K
Sale Common Stock, $1.00 par value F7 1,928 $170.8108 $329K
Sale Common Stock, $1.00 par value F8 7,873 $171.3686 $1.35M
Sale Common Stock, $1.00 par value F9 67 $172.271 $12K
Sale Common Stock, $1.00 par value F10 41 $173.4013 $7K
Sale Common Stock, $1.00 par value F11 91 $174.3546 $16K
Sale Common Stock, $1.00 par value F1 252 $172.5337 $43K
Sale Common Stock, $1.00 par value F2 231 $173.4497 $40K
Sale Common Stock, $1.00 par value F3 891 $174.8103 $156K
Sale Common Stock, $1.00 par value F4 4,585 $175.3936 $804K
Sale Common Stock, $1.00 par value F5 3,500 $176.4179 $617K
Sale Common Stock, $1.00 par value F6 541 $177.2273 $96K
holding Class B Common Stock, $1.00 par value F18, F17 -- -- --
holding Common Stock, $1.00 par value F16 -- -- --
Holdings After Transaction: Common Stock, $1.00 par value — 1,226,119 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 (18)
  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 $172.3000 to $172.9900, 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 $173.0000 to $173.9900, 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 $174.0200 to $174.9956, 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 $175.0000 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.
  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 $176.0000 to $176.9650, 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 $177.0200 to $177.6400, 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 $170.1800 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.
  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 $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.
  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 $172.0000 to $172.7400, 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 $173.0747 to $173.5200, 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 $174.2700 to $174.8200, 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 $169.4400 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.
  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 $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.
  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 $171.0000 to $171.9650, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $172.0100 to $172.7400, 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.
  16. F16. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
  17. F17. 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.
  18. F18. The conversion price is the market price of the Common Stock on the previous business day.
Common shares sold 30,000 shares Total open-market sales of common stock from July 13–15, 2026
Price range of sales $169.4400–$177.6400 per share Ranges of weighted-average sale prices across multiple transactions
Class B shares held 54,612,012 shares Direct holdings of Class B common stock, convertible share-for-share into common
Indirect common shares held 39,630 shares Common stock held indirectly by Hershey Trust Company
Net common share change -30,000 shares Net common shares sold according to the transaction summary
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.
open-market sale financial
"Sale in open market or private transaction"
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.
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.
share-for-share financial
"par value convertible share-for-share into common stock, $1.00 par value"

FAQ

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

What did Hershey Trust Company report in its latest HSY Form 4?
Hershey Trust Company reported selling 30,000 Hershey Co (HSY) common shares in open‑market transactions from July 13–15, 2026. The sales were executed at various weighted‑average prices in the high‑$160s to high‑$170s per share.

Over what dates and price ranges did the HSY insider sales occur?
The HSY insider sales occurred from July 13–15, 2026. Footnotes state the weighted‑average sale prices for different trade groups ranged from about $169.44 to $177.64 per share, reflecting multiple executions within those ranges.

How many Hershey Co shares does the Milton Hershey School Trust still hold through Hershey Trust Company?
After these transactions, the position still includes 54,612,012 Class B common shares held directly and 39,630 Hershey Co common shares held indirectly by Hershey Trust Company. Each Class B share is convertible on a share‑for‑share basis into common stock.

What is Hershey Co Class B common stock and how does conversion work?
Hershey Co Class B common stock has $1.00 par value and is convertible share‑for‑share into common stock at any time, with no expiration date. A footnote states the conversion price equals the market price of the common stock on the previous business day.

Who is Hershey Trust Company in relation to the Milton Hershey School Trust?
A footnote explains that Hershey Trust Company is wholly owned by the Milton Hershey School Trust and serves as trustee for that trust. In this Form 4, it reports transactions as a more than 10% stockholder of Hershey Co (HSY).

What does "weighted average price" mean in this HSY Form 4?
For each sale line, the price shown is a weighted average price across multiple executions in a stated range. Footnotes say Hershey Trust Company will provide details of the number of shares sold at each individual price within those ranges upon request.

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

Form 4 Insider Transactions: What Each Field Means →
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Accepted by SEC EDGAR
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)
07/13/2026		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 value07/13/2026S252D$172.5337(1)1,255,867D
Common Stock, $1.00 par value07/13/2026S231D$173.4497(2)1,255,636D
Common Stock, $1.00 par value07/13/2026S891D$174.8103(3)1,254,745D
Common Stock, $1.00 par value07/13/2026S4,585D$175.3936(4)1,250,160D
Common Stock, $1.00 par value07/13/2026S3,500D$176.4179(5)1,246,660D
Common Stock, $1.00 par value07/13/2026S541D$177.2273(6)1,246,119D
Common Stock, $1.00 par value07/14/2026S1,928D$170.8108(7)1,244,191D
Common Stock, $1.00 par value07/14/2026S7,873D$171.3686(8)1,236,318D
Common Stock, $1.00 par value07/14/2026S67D$172.271(9)1,236,251D
Common Stock, $1.00 par value07/14/2026S41D$173.4013(10)1,236,210D
Common Stock, $1.00 par value07/14/2026S91D$174.3546(11)1,236,119D
Common Stock, $1.00 par value07/15/2026S2,091D$169.7823(12)1,234,028D
Common Stock, $1.00 par value07/15/2026S4,916D$170.355(13)1,229,112D
Common Stock, $1.00 par value07/15/2026S2,305D$171.3587(14)1,226,807D
Common Stock, $1.00 par value07/15/2026S688D$172.3015(15)1,226,119D
Common Stock, $1.00 par value39,630IBy Hershey Trust Company(16)
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(18) (17) (17)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 $172.3000 to $172.9900, 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 $173.0000 to $173.9900, 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 $174.0200 to $174.9956, 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 $175.0000 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.
5. 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 $176.9650, 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 $177.0200 to $177.6400, 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 $170.1800 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.
8. 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.
9. 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 $172.7400, 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 $173.0747 to $173.5200, 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 $174.2700 to $174.8200, 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 $169.4400 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.
13. 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.
14. 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 $171.9650, 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. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $172.0100 to $172.7400, 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.
16. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
17. 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.
18. The conversion price is the market price of the Common Stock on the previous business day.
/s/ Joshua D. Shannon, Deputy CIO07/15/2026
** 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)

Source: View Original Filing on SEC EDGAR

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