Hershey Trust Co Trustee in Trust for Milton Hershey School filed a Form 4 on August 19, 2026, disclosing the sale of Common Stock of The Hershey Company (NYSE:HSY) across multiple transactions on August 17, 18, and 19, 2026, pursuant to a Rule 10b5-1 plan.

Key Highlights

  • Three-day sale period: Transactions occurred on August 17, 18, and 19, 2026, covering 15 separate sale transactions in total.
  • Total shares sold: The filing discloses disposals of Common Stock, $1.00 par value, reducing direct holdings from 1,003,512 shares to 976,119 shares over the three days.
  • Price range: Sale prices across all transactions ranged from weighted averages of $180.7205 to $189.2004, with individual transaction prices spanning as low as $180.2650 and as high as $189.7195.
  • Rule 10b5-1 plan: The filing indicates transactions were made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
  • Remaining direct holdings: Following all reported transactions, the reporting person directly held 976,119 shares of Common Stock.
  • Indirect holdings: The filing also reports 39,630 shares held indirectly by Hershey Trust Company, and derivative holdings of 54,612,012 shares of Class B Common Stock, $1.00 par value, held directly.
  • 10% owner status: The reporting person is identified in the filing as a 10% owner of the issuer.

Hershey Trust's Multi-Day Common Stock Disposals Under 10b5-1 Plan

According to the filing, Hershey Trust Co Trustee in Trust for Milton Hershey School, a 10% owner of The Hershey Company (NYSE:HSY), reported 15 separate open-market sales of Common Stock, $1.00 par value, across August 17, 18, and 19, 2026. All transactions carried transaction code "S" (sale) and are noted as having been made under a Rule 10b5-1(c) plan, as indicated by the checked box on the form.

On August 17, 2026, the reporting person sold shares in five tranches at weighted average prices of $180.7205, $181.188, $182.4693, $183.4451, and $184.00, reducing direct holdings from 1,003,512 to 996,119 shares. On August 18, 2026, four additional tranches were sold at weighted average prices of $181.5043, $182.5129, $183.5057, and $184.0279, bringing direct holdings to 986,119 shares. On August 19, 2026, six further tranches were sold at prices of $184.65, $185.00, and weighted averages of $186.8151, $187.3674, $188.7417, and $189.2004, with direct holdings ending at 976,119 shares.

The filing notes that multiple weighted average prices represent sales across price ranges. For example, the August 17 tranche reported at $180.7205 covers individual transactions ranging from $180.2650 to $180.9839. The reporting person has undertaken to provide full per-share detail upon request to the SEC staff, any Hershey security holder, or The Hershey Company itself. In addition to the 976,119 directly held shares and 39,630 indirectly held shares, the filing discloses derivative holdings consisting of 54,612,012 shares of Class B Common Stock, $1.00 par value, held directly.

What Was Disclosed

The filing reports the sale of Hershey Common Stock by Hershey Trust Co Trustee in Trust for Milton Hershey School across August 17-19, 2026, under a Rule 10b5-1 plan, with direct holdings declining to 976,119 shares following the transactions.