HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL 4

What Happened

• Hershey Trust Company, as trustee for the Milton Hershey School Trust (a reported 10% owner), sold a total of 10,000 Class B shares of The Hershey Company in open-market transactions on April 2, 2026. The seven separate lots ranged in weighted-average prices from about $200.97 to $206.22, generating total proceeds of approximately $2,045,096.
• Individual lots reported: 46 @ $200.97 ($9,245); 357 @ $201.43 ($71,911); 1,662 @ $202.58 ($336,682); 1,864 @ $203.52 ($379,353); 1,729 @ $204.50 ($353,580); 1,848 @ $205.64 ($380,020); 2,494 @ $206.22 ($514,305). All sales are coded “S” (sale).

Key Details

• Transaction date: April 2, 2026; Form 4 filed April 6, 2026 (timely filed within the reporting window).
• Reported proceeds: ~ $2,045,096 for 10,000 shares.
• Reported prices are weighted averages for multiple trades; per-footnote ranges:
  • lot1: $201.0600–$201.9700 (F1)
  • lot2: $202.0600–$202.9750 (F2)
  • lot3: $203.0000–$203.9800 (F3)
  • lot4: $204.0000–$204.9800 (F4)
  • lot5: $205.0000–$205.9800 (F5)
  • lot6: $206.0000–$206.4300 (F6)
• Shares owned after the transaction not provided in the supplied filing data.
• Footnotes: Hershey Trust Co. is wholly owned by the Milton Hershey School Trust (F7). The sold shares were Class B common stock, convertible share-for-share into common stock at any time (F8–F9). Reporting person offered to disclose per-price breakdowns upon request (F1–F6).
• Transaction code: S = Sale. This was a sale (routine liquidity) by a 10% institutional owner—not an executive’s option exercise or grant.

Context

• These are institutional/trust sales by a 10% owner (Milton Hershey School Trust via its trustee). Such institutional disposals are not the same signal as an executive buying or selling shares; they may reflect portfolio/liquidity needs or trust management.
• The filing does not show any option exercises, awards, or gifts in this report—just open-market sales.