Hershey Trust Co Trustee in Trust for Milton Hershey School filed a Form 4 on October 26, 2026, disclosing the sale of Common Stock of The Hershey Company across multiple transactions on October 22 and October 23, 2026, executed pursuant to a Rule 10b5-1(c) plan.

Key Highlights

  • Reporting person: Hershey Trust Co Trustee in Trust for Milton Hershey School, identified as a 10% owner of The Hershey Company (NYSE:HSY).
  • October 22 sales: A total of 10,000 shares were disposed of across seven separate price tranches, with weighted average prices ranging from $169.2901 to $175.5121 per share.
  • October 23 sales: An additional 10,000 shares were disposed of across seven separate price tranches, with weighted average prices ranging from $169.6437 to $175.0881 per share.
  • Post-transaction direct ownership: Following the reported transactions, the reporting person directly beneficially owned 516,119 shares of Common Stock, $1.00 par value.
  • Indirect ownership: The filing also discloses 39,630 shares held indirectly by Hershey Trust Company.
  • Derivative security: The reporting person holds 54,612,012 shares of Common Stock, $1.00 par value, underlying Class B Common Stock, $1.00 par value, held directly.
  • Rule 10b5-1 plan: The filing indicates all transactions were made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Hershey Trust Disposes of Common Stock Over Two Trading Days

According to the filing, Hershey Trust Co Trustee in Trust for Milton Hershey School, acting as a 10% owner, sold shares of The Hershey Company Common Stock ($1.00 par value) on October 22 and October 23, 2026. All sales carried transaction code "S" and were executed under a Rule 10b5-1(c) plan. The filing reports that prices shown are weighted averages, and the reporting person has undertaken to provide full per-share transaction detail upon request to the SEC, any Hershey security holder, or The Hershey Company itself.

On October 22, 2026, the filing discloses seven separate sale tranches totaling 10,000 shares, with weighted average prices of $169.2901, $170.2265, $171.4792, $172.6666, $173.4255, $174.5334, and $175.5121. On October 23, 2026, seven additional tranches totaling 10,000 shares were sold at weighted average prices of $169.6437, $170.3379, $171.7498, $172.2352, $173.485, $174.5812, and $175.0881. After all reported transactions, the filing states the reporting person directly held 516,119 shares.

In addition to the direct holdings, the filing reports 39,630 shares held indirectly by Hershey Trust Company. The filing also discloses a derivative security position: Class B Common Stock, $1.00 par value, convertible into 54,612,012 shares of Common Stock, held directly by the reporting person. No transactions in derivative securities were reported in this filing.

What Was Disclosed

The filing reports the disposal of 20,000 shares of Hershey Company Common Stock by Hershey Trust Co Trustee in Trust for Milton Hershey School on October 22-23, 2026, under a Rule 10b5-1(c) plan, leaving a direct beneficial ownership of 516,119 shares.