Hershey Trust Co Trustee in Trust for Milton Hershey School filed a Form 4 on October 28, 2026, disclosing the sale of 20,000 shares of Hershey Co common stock across eleven transactions spanning October 26 through October 28, 2026, pursuant to a Rule 10b5-1 trading plan.

Key Highlights

  • Total shares sold: 20,000 shares of Common Stock, $1.00 par value, disposed of (transaction code S) across eleven tranches over three trading days.
  • Price range: Weighted average sale prices ranged from $162.7182 per share (October 28) to $168.2167 per share (October 26), according to the filing.
  • Remaining direct ownership: Following the reported transactions, the reporting person directly held 486,119 shares of Common Stock, $1.00 par value.
  • Indirect holdings: The filing also reports 39,630 shares held indirectly by Hershey Trust Company, and 54,612,012 shares of Class B Common Stock, $1.00 par value, held directly as a derivative security convertible share-for-share into common stock.
  • 10b5-1 plan: The filing indicates the transactions were made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
  • Reporting person role: Hershey Trust Co Trustee in Trust for Milton Hershey School is identified in the filing as a 10% owner of Hershey Co (NYSE:HSY).

Hershey Trust's Three-Day Common Stock Sale: October 26-28, 2026

According to the filing, Hershey Trust Co Trustee in Trust for Milton Hershey School sold a total of 20,000 shares of Hershey Co (NYSE:HSY) Common Stock, $1.00 par value, in eleven separate tranches across October 26, 27, and 28, 2026. All transactions carried transaction code S (sale) and were reported as directly owned. The filing states each reported price is a weighted average, with full per-transaction detail available upon request to the SEC staff, any Hershey security holder, or The Hershey Company itself.

On October 26, the reporting person sold 230 shares at a weighted average of $165.8311, 1,370 shares at $166.462, 6,032 shares at $167.6288, and 2,368 shares at $168.2167, reducing direct holdings from 515,889 to 506,119 shares. On October 27, four additional tranches totaling 10,000 shares were sold at weighted average prices between $163.6508 and $166.1803, bringing direct holdings to 496,119. On October 28, three tranches totaling 10,000 shares were sold at weighted averages between $162.7182 and $164.0894, leaving 486,119 shares held directly.

The filing notes that Hershey Trust Company is wholly owned by Milton Hershey School Trust and serves as trustee for the Milton Hershey School Trust. Separately, the filing discloses 54,612,012 shares of Class B Common Stock, $1.00 par value, held directly as a derivative security. According to the filing, all Class B shares are convertible share-for-share into common stock at any time without payment other than the fact of conversion, with no expiration date, and with a conversion price equal to the market price of the common stock on the previous business day.

What Was Disclosed

The filing reports 20,000 shares of Hershey Co common stock sold by Hershey Trust Co Trustee in Trust for Milton Hershey School over October 26-28, 2026, under a Rule 10b5-1 plan, with direct beneficial ownership declining to 486,119 shares following the transactions.