Hershey Trust sells 20,000 shares under trading plan

Six reported sale prices were weighted averages for multiple transactions, with footnotes giving the price ranges for those sales.

Rhea-AI Filing Summary

Hershey Trust Company, trustee for Milton Hershey School Trust and a 10% owner of The Hershey Company (HSY), reported sales of 20,000 common shares on October 8 and 9, 2026, under a Rule 10b5-1 trading plan. As of October 8, 2026, reported positions included 39,630 common shares held indirectly by Hershey Trust Company and 54,612,012 Class B common shares held directly. Class B shares are convertible share-for-share into common stock.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares

Net Sell 9 txns

Insider HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

Role 10% Owner

Sold 20,000 shs ($3.25M)

Type	Security	Shares	Price	Value
Sale	Common Stock, $1.00 par value F5	1,924	$161.7262	$311K
Sale	Common Stock, $1.00 par value F6	8,075	$162.4219	$1.31M
Sale	Common Stock, $1.00 par value	1	$163.0492	$163.05
Sale	Common Stock, $1.00 par value F1	153	$160.8582	$25K
Sale	Common Stock, $1.00 par value F2	1,350	$161.5262	$218K
Sale	Common Stock, $1.00 par value F3	7,434	$162.5147	$1.21M
Sale	Common Stock, $1.00 par value F4	1,063	$163.1459	$173K
holding	Class B Common Stock, $1.00 par value F9, F8	--	--	--
holding	Common Stock, $1.00 par value F7	--	--	--

Holdings After Transaction: Common Stock, $1.00 par value — 616,119 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 (9)

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 $160.8300 to $160.9373, 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 $161.0200 to $161.9900, 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 $162.0050 to $162.9923, 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 $163.0000 to $163.3959, 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 $161.4400 to $161.9982, 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 $162.0143 to $162.8078, 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. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
8. F8. 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.
9. F9. The conversion price is the market price of the Common Stock on the previous business day.

Key Figures

Common shares sold: 20,000 shares Weighted average sale price: $160.8582 per share Weighted average sale price: $161.5262 per share +5 more

8 metrics

Common shares sold 20,000 shares Reported sales on October 8 and 9, 2026

Weighted average sale price $160.8582 per share 153 shares sold on October 8, 2026

Weighted average sale price $161.5262 per share 1,350 shares sold on October 8, 2026

Weighted average sale price $162.5147 per share 7,434 shares sold on October 8, 2026

Weighted average sale price $163.1459 per share 1,063 shares sold on October 8, 2026

Weighted average sale price $161.7262 per share 1,924 shares sold on October 9, 2026

Weighted average sale price $162.4219 per share 8,075 shares sold on October 9, 2026

Sale price $163.0492 per share 1 share sold on October 9, 2026

Key Terms

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

4 terms

Rule 10b5-1 trading plan regulatory

"under a Rule 10b5-1 trading plan"

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 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"

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

"convertible share-for-share 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 under what plan?

Hershey Trust Company, trustee for Milton Hershey School Trust, reported sales of 20,000 HSY common shares on October 8 and 9, 2026, under a Rule 10b5-1 trading plan. Six reported prices were weighted averages for multiple transactions; the footnotes provide the ranges for those sales.

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

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Available on EDGAR 10/09/2026 - 05:17 PM Accepted by SEC EDGAR 10/09/2026 - 05:17 PM Learn about SEC filing dates

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)
10/08/2026

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	10/08/2026		S		153	D	$160.8582(1)	635,966	D
Common Stock, $1.00 par value	10/08/2026		S		1,350	D	$161.5262(2)	634,616	D
Common Stock, $1.00 par value	10/08/2026		S		7,434	D	$162.5147(3)	627,182	D
Common Stock, $1.00 par value	10/08/2026		S		1,063	D	$163.1459(4)	626,119	D
Common Stock, $1.00 par value	10/09/2026		S		1,924	D	$161.7262(5)	624,195	D
Common Stock, $1.00 par value	10/09/2026		S		8,075	D	$162.4219(6)	616,120	D
Common Stock, $1.00 par value	10/09/2026		S		1	D	$163.0492	616,119	D
Common Stock, $1.00 par value								39,630	I	By Hershey Trust Company(7)

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	(9)							(8)	(8)	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 $160.8300 to $160.9373, 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 $161.0200 to $161.9900, 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 $162.0050 to $162.9923, 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 $163.0000 to $163.3959, 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 $161.4400 to $161.9982, 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 $162.0143 to $162.8078, 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. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.

8. 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.

9. 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	10/09/2026
	** 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)