Hershey Trust Co Sells $3.34M in HSY Shares via Rule 10b5-1 Plan

Transaction Overview

On September 24 and September 25, 2026, Hershey Trust Co Trustee in Trust for Milton Hershey School, a 10% beneficial owner of The Hershey Company ($HSY), disposed of 20,000 shares of Common Stock across multiple weighted average price blocks ranging from $166.49 to $170.03, yielding aggregate gross proceeds of approximately $3.34 million.

Transaction Breakdown

• September 24, 2026:
  • 4,159 shares sold @ $166.8124
  • 1,187 shares sold @ $167.4352
  • 2,589 shares sold @ $168.5916
  • 1,978 shares sold @ $169.2474
  • 87 shares sold @ $170.0319
• September 25, 2026:
  • 8,395 shares sold @ $166.4927
  • 1,605 shares sold @ $167.1982

Holdings Context & Significance

• Rule 10b5-1 Plan: The transactions were executed pursuant to an affirmative Rule 10b5-1 trading arrangement, indicating pre-established parameters rather than discretionary, market-reactive selling.
• Portfolio Impact: Following the transactions, the Trust directly retains 716,119 shares of Common Stock, 39,630 shares held indirectly via Hershey Trust Company, and 54,612,012 shares of Class B Common Stock (convertible 1-for-1 into Common Stock). The 20,000 shares sold represent less than 0.04% of its overall equity exposure.
• Market Impact: Given the minor fraction of holdings liquidated under a pre-scheduled trading plan, the transaction carries Low informational significance for investors.