Hershey Trust Co Sells $3.61M of Hershey Co ($HSY) Under Rule 10b5-1 Plan

Executive Summary

On August 31, 2026, HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL, a 10% beneficial owner of The Hershey Company (NYSE: HSY), filed a Form 4 disclosing open-market sales of 20,000 shares of Common Stock across August 27 and August 28, 2026. The sales generated aggregate proceeds of approximately $3.61 million at weighted average prices ranging from $179.41 to $183.58 per share.

Transaction Breakdown

• August 27, 2026:
  • 3,956 shares @ $180.7249 ($715,027.70)
  • 5,703 shares @ $181.4053 ($1,034,554.43)
  • 341 shares @ $182.2261 ($62,139.10)
• August 28, 2026:
  • 5,866 shares @ $179.4091 ($1,052,413.78)
  • 2,898 shares @ $180.3362 ($522,614.31)
  • 642 shares @ $181.3970 ($116,456.87)
  • 478 shares @ $182.6398 ($87,301.82)
  • 116 shares @ $183.5758 ($21,294.79)

Holdings Context

• The transactions were conducted pursuant to a pre-arranged Rule 10b5-1 trading plan.
• Following the sales, Hershey Trust Co directly holds 906,119 shares of Common Stock and indirectly holds 39,630 shares.
• In addition, the Trust maintains direct ownership of 54,612,012 shares of Class B Common Stock, which are convertible 1-for-1 into Common Stock and represent controlling voting power of the company.
• Given the pre-scheduled 10b5-1 structure and the relatively minor fraction of the Trust's total equity and voting stake being sold, the market significance of this filing is classified as Low.