HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL 4
4 · HERSHEY CO · Filed Apr 1, 2026
Research Summary
AI-generated summary of this filing
Hershey (HSY) 10% Holder Hershey Trust Sells 30,000 Shares
What Happened
- Hershey Trust Company, as trustee in trust for the Milton Hershey School (a reported 10% owner), sold a total of 30,000 shares of The Hershey Company (HSY) common stock in open-market transactions between March 30 and April 1, 2026. The sales were executed in blocks of 10,000 shares each day (Mar 30, Mar 31, Apr 1).
- The transactions generated aggregate proceeds of roughly $6.26 million. Reported per-share prices (weighted averages) ranged roughly from about $200.6 to $215.1 per share across the sales.
Key Details
- Dates and per-day activity:
- Mar 30, 2026: 10,000 shares sold — ≈ $2.137M proceeds
- Mar 31, 2026: 10,000 shares sold — ≈ $2.087M proceeds
- Apr 01, 2026: 10,000 shares sold — ≈ $2.034M proceeds
- Price detail: weighted-average prices reported for individual blocks; footnotes list transaction-level price ranges (see filing). Overall range roughly $200.61–$215.10.
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Notable footnotes: multiple footnotes (F1–F22) state that reported prices are weighted averages and provide per-block price ranges; F23 clarifies Hershey Trust Co. is trustee for the Milton Hershey School Trust; F24–F25 note conversion mechanics for Class B shares (if relevant).
- Timeliness: Form 4 was filed April 1, 2026. Given the trade dates (Mar 30–Apr 1), the filing appears to have been made within the standard Form 4 reporting window (two business days).
Context
- This filing reflects institutional trading by a 10% owner/trustee (not an individual executive). Such sales are often related to trust liquidity or portfolio management and are not the same signal as a purchase by an executive. The filing is factual and does not disclose the trust’s motive.
Insider Transaction Report
Form 4
HERSHEY COHSY
Transactions
- Sale
Common Stock, $1.00 par value
[F1]2026-03-30$211.94/sh−46$9,749→ 1,966,073 total - Sale
Common Stock, $1.00 par value
[F2]2026-03-30$212.66/sh−415$88,255→ 1,965,658 total - Sale
Common Stock, $1.00 par value
[F3]2026-03-30$213.57/sh−7,231$1,544,342→ 1,958,427 total - Sale
Common Stock, $1.00 par value
[F4]2026-03-30$214.22/sh−2,274$487,141→ 1,956,153 total - Sale
Common Stock, $1.00 par value
[F5]2026-03-30$215.06/sh−34$7,312→ 1,956,119 total - Sale
Common Stock, $1.00 par value
[F6]2026-03-31$205.93/sh−37$7,619→ 1,956,082 total - Sale
Common Stock, $1.00 par value
[F7]2026-03-31$206.44/sh−1,286$265,486→ 1,954,796 total - Sale
Common Stock, $1.00 par value
[F8]2026-03-31$207.73/sh−5,399$1,121,547→ 1,949,397 total - Sale
Common Stock, $1.00 par value
[F9]2026-03-31$208.44/sh−721$150,283→ 1,948,676 total - Sale
Common Stock, $1.00 par value
[F10]2026-03-31$209.12/sh−110$23,004→ 1,948,566 total - Sale
Common Stock, $1.00 par value
[F11]2026-03-31$210.45/sh−351$73,868→ 1,948,215 total - Sale
Common Stock, $1.00 par value
[F12]2026-03-31$211.39/sh−952$201,239→ 1,947,263 total - Sale
Common Stock, $1.00 par value
[F13]2026-03-31$212.21/sh−244$51,780→ 1,947,019 total - Sale
Common Stock, $1.00 par value
[F14]2026-03-31$213.51/sh−531$113,375→ 1,946,488 total - Sale
Common Stock, $1.00 par value
[F15]2026-03-31$214.46/sh−259$55,546→ 1,946,229 total - Sale
Common Stock, $1.00 par value
[F16]2026-03-31$215.07/sh−110$23,657→ 1,946,119 total - Sale
Common Stock, $1.00 par value
[F17]2026-04-01$200.77/sh−64$12,849→ 1,946,055 total - Sale
Common Stock, $1.00 par value
[F18]2026-04-01$201.59/sh−264$53,220→ 1,945,791 total - Sale
Common Stock, $1.00 par value
[F19]2026-04-01$202.70/sh−3,658$741,480→ 1,942,133 total - Sale
Common Stock, $1.00 par value
[F20]2026-04-01$203.56/sh−3,303$672,343→ 1,938,830 total - Sale
Common Stock, $1.00 par value
[F21]2026-04-01$204.34/sh−2,630$537,407→ 1,936,200 total - Sale
Common Stock, $1.00 par value
[F22]2026-04-01$205.06/sh−81$16,609→ 1,936,119 total
Holdings
- 39,630(indirect: By Trust)
Common Stock, $1.00 par value
[F23] - 54,612,012
Class B Common Stock, $1.00 par value
[F25][F24]→ Common Stock, $1.00 par value (54,612,012 underlying)
Footnotes (25)
- [F1]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $211.9080 to $211.9791, 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.
- [F10]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $209.0264 to $209.1335, 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.
- [F11]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $210.1369 to $210.9616, 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.
- [F12]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $211.1051 to $211.9958, 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.
- [F13]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $212.0039 to $212.5100, 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.
- [F14]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $213.0304 to $213.9899, 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.
- [F15]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $214.0010 to $214.9850, 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.
- [F16]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $215.0200 to $215.0700, 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.
- [F17]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $200.6100 to $200.8700, 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.
- [F18]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $201.0200 to $201.9200, 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.
- [F19]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $202.0800 to $202.9900, 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.
- [F2]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $212.3990 to $212.8895, 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.
- [F20]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $203.0000 to $203.9985, 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.
- [F21]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $204.0000 to $204.9900, 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.
- [F22]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $205.0000 to $205.2800, 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.
- [F23]Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
- [F24]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.
- [F25]The conversion price is the market price of the Common Stock on the previous business day.
- [F3]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $213.0188 to $213.9956, 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.
- [F4]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $214.0040 to $214.9748, 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.
- [F5]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $215.0036 to $215.1021, 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.
- [F6]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $205.7800 to $205.9924, 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.
- [F7]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $206.0163 to $206.9957, 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.
- [F8]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $207.0200 to $207.9946, 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.
- [F9]The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $208.0203 to $208.8541, 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.
Signature
/s/ Joshua D. Shannon, Deputy CIO|2026-04-01