Hershey Form 4: CFO disposes 1,500 shares under 10b5-1 plan

Rhea-AI Filing Summary

Steven E. Voskuil, Senior Vice President and Chief Financial Officer of The Hershey Company (HSY), reported a sale of 1,500 shares of Hershey common stock on 08/18/2025 at a price of $178.53 per share. After the transaction, Mr. Voskuil’s beneficial ownership stood at 59,819 shares held directly. The filing states the sale was executed under a Rule 10b5-1 trading plan adopted by the reporting person on May 20, 2025, indicating the trade was preplanned. The Form 4 was signed on behalf of the reporting person by an agent on 08/19/2025.

Insights

Securities Analyst

TL;DR Routine, preplanned insider sale under a 10b5-1 plan; no new material information about company performance.

The Form 4 documents a small, orderly disposition of 1,500 shares by the CFO at $178.53 per share executed under a Rule 10b5-1 plan established on May 20, 2025. The transaction reduced direct beneficial ownership to 59,819 shares. As this was a planned sale under an established trading program, it does not, by itself, convey new operational or financial information about Hershey. For investors, this is a disclosure of insider liquidity activity rather than a signal of corporate change.

Corporate Governance Expert

TL;DR Compliance-focused disclosure showing adherence to Rule 10b5-1 processes; governance procedures appear followed.

The filing clearly states the sale was effected pursuant to a Rule 10b5-1 trading plan adopted May 20, 2025, and the Form 4 is signed by an authorized agent. These elements indicate procedural compliance with insider-trading and disclosure rules. The size of the sale (1,500 shares) is modest relative to total ownership of 59,819 shares, suggesting this is routine liquidity management rather than a change in executive stake or control.

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^*

Voskuil Steven E

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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	08/18/2025		S(1)		1,500	D	$178.53	59,819	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:

1. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 20, 2025.

	/s/ Kathleen S. Purcell, Agent for Steven E. Voskuil	08/19/2025
	** 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 HSY insider Steven E. Voskuil report?

He reported a sale of 1,500 shares of Hershey common stock completed on 08/18/2025 at $178.53 per share.

How many Hershey shares does Steven E. Voskuil own after the reported sale?

Following the transaction, his reported beneficial ownership is 59,819 shares (direct ownership).

Was the sale part of a preplanned trading arrangement?

Yes. The Form 4 states the sale was effected pursuant to a Rule 10b5-1 trading plan adopted on May 20, 2025.

When was the Form 4 signed and filed?

The Form 4 bears an agent signature dated 08/19/2025 reflecting the report of the 08/18/2025 transaction.

Does this Form 4 indicate any change in role or control at Hershey (HSY)?

No. The filing lists Mr. Voskuil as SVP, Chief Financial Officer and shows an insider sale; it does not report any change in role or control.