Sell4

HERSHEY CO

HSY

Total Value

$5.2M

Net $5.2M sold

Filing Date

Sep 16, 2026

13 transactions

Sales

$5.2M

13 transactions

Trade Summary

On Sep 14, 2026 through Sep 16, 2026, HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL, 10% Owner, sold $5.2M of HERSHEY CO (HSY) across 13 transactions. The filing covers Common Stock, $1.00 par value and reflects net selling of $5.2M. Reported prices ranged from $169.73 to $177.67. Insider transactions are sourced from SEC Form 4 disclosures and should be reviewed alongside company fundamentals and the insider's broader trading history.

Price at the Time of the Trade

HSY daily price with the insider's sale marked at $172.23.

Sold near the 6-month low · about level with today's price.

Price data is delayed and provided for context only — not investment advice.

Insider Information

Name: HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL
Role: 10% Owner
Location: HERSHEY, PA

Filing Details

Filing Date: Sep 16, 2026
Transaction Date: Sep 14, 2026
Accession Number: 0000950142-26-002557
Form Type: 4
Net Trading Amount: -$5.2M

Non-Derivative Transactions

Date	Security	Shares	Price	Type	Value
Sep 14, 2026	Common Stock, $1.00 par value	4,390	$173.81	Sale	$763.0K
Sep 14, 2026	Common Stock, $1.00 par value	3,993	$174.50	Sale	$696.8K
Sep 14, 2026	Common Stock, $1.00 par value	1,214	$175.45	Sale	$213.0K
Sep 14, 2026	Common Stock, $1.00 par value	203	$176.39	Sale	$35.8K
Sep 14, 2026	Common Stock, $1.00 par value	200	$177.67	Sale	$35.5K
Sep 15, 2026	Common Stock, $1.00 par value	400	$169.73	Sale	$67.9K
Sep 15, 2026	Common Stock, $1.00 par value	6,586	$170.46	Sale	$1.1M
Sep 15, 2026	Common Stock, $1.00 par value	2,198	$171.38	Sale	$376.7K
Sep 15, 2026	Common Stock, $1.00 par value	676	$172.33	Sale	$116.5K
Sep 15, 2026	Common Stock, $1.00 par value	140	$173.10	Sale	$24.2K
Sep 16, 2026	Common Stock, $1.00 par value	3,299	$170.81	Sale	$563.5K
Sep 16, 2026	Common Stock, $1.00 par value	4,135	$171.54	Sale	$709.3K
Sep 16, 2026	Common Stock, $1.00 par value	2,566	$172.21	Sale	$441.9K

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Footnotes

(F1)The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.5478 to $173.9900, 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 $174.0150 to $174.9800, 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.
(F3)The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0150 to $175.9850, 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.
(F4)The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $176.0600 to $176.4000, 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 $177.5700 to $177.7300, 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 $169.4836 to $169.9754, 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 $170.0042 to $170.9954, 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 $171.0033 to $171.9463, 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 $172.0000 to $172.7447, 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 $173.0000 to $173.2800, 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.
(F11)The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $170.7200 to $170.9931, 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 $171.0100 to $171.9923, 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 $172.0012 to $172.6230, 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)Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
(F15)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.
(F16)The conversion price is the market price of the Common Stock on the previous business day.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL

(Last)

(First)

(Middle)

1 EAST CHOCOLATE AVENUE

SUITE 400

(Street)

HERSHEY

17033

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
HERSHEY CO [ HSY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/14/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $1.00 par value	09/14/2026		S		4,390	D	$173.8061⁽¹⁾	811,729	D
Common Stock, $1.00 par value	09/14/2026		S		3,993	D	$174.5004⁽²⁾	807,736	D
Common Stock, $1.00 par value	09/14/2026		S		1,214	D	$175.4529⁽³⁾	806,522	D
Common Stock, $1.00 par value	09/14/2026		S		203	D	$176.3851⁽⁴⁾	806,319	D
Common Stock, $1.00 par value	09/14/2026		S		200	D	$177.6723⁽⁵⁾	806,119	D
Common Stock, $1.00 par value	09/15/2026		S		400	D	$169.7305⁽⁶⁾	805,719	D
Common Stock, $1.00 par value	09/15/2026		S		6,586	D	$170.4637⁽⁷⁾	799,133	D
Common Stock, $1.00 par value	09/15/2026		S		2,198	D	$171.3769⁽⁸⁾	796,935	D
Common Stock, $1.00 par value	09/15/2026		S		676	D	$172.3273⁽⁹⁾	796,259	D
Common Stock, $1.00 par value	09/15/2026		S		140	D	$173.1⁽¹⁰⁾	796,119	D
Common Stock, $1.00 par value	09/16/2026		S		3,299	D	$170.8128⁽¹¹⁾	792,820	D
Common Stock, $1.00 par value	09/16/2026		S		4,135	D	$171.5408⁽¹²⁾	788,685	D
Common Stock, $1.00 par value	09/16/2026		S		2,566	D	$172.2141⁽¹³⁾	786,119	D
Common Stock, $1.00 par value								39,630	I	By Hershey Trust Company⁽¹⁴⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock, $1.00 par value	⁽¹⁶⁾							⁽¹⁵⁾	⁽¹⁵⁾	Common Stock, $1.00 par value	54,612,012		54,612,012	D

Explanation of Responses:

1. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.5478 to $173.9900, 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.

2. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $174.0150 to $174.9800, 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.

3. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $175.0150 to $175.9850, 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.

4. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $176.0600 to $176.4000, 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.

5. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $177.5700 to $177.7300, 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.

6. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $169.4836 to $169.9754, 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.

7. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $170.0042 to $170.9954, 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.

8. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $171.0033 to $171.9463, 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.

9. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $172.0000 to $172.7447, 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.

10. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $173.0000 to $173.2800, 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.

11. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $170.7200 to $170.9931, 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.

12. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $171.0100 to $171.9923, 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.

13. The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at price a ranging from $172.0012 to $172.6230, 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.

14. Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.

15. 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.

16. The conversion price is the market price of the Common Stock on the previous business day.

	/s/ Joshua D. Shannon, Deputy CIO	09/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Form 4 as rendered by the SEC from accession 0000950142-26-002557.

HERSHEY CO

Trade Summary

Price at the Time of the Trade

Company Information

Insider Information

Filing Details

Non-Derivative Transactions

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Footnotes

SEC Form 4

SEC Filing

SEC Form 4

Price at the Time of the Trade