Hershey Trust Co Sells 30,000 Common Shares of Hershey Co Under Rule 10b5-1

Insider Transaction Analysis: Hershey Trust Co ($HSY)

Summary of Activity

Between October 19, 2026, and October 21, 2026, Hershey Trust Co Trustee in Trust for Milton Hershey School, a 10% beneficial owner of The Hershey Company ($HSY), sold a total of 30,000 shares of common stock through open market transactions.

• Total Gross Proceeds: $5,044,917.43
• Weighted Average Price: ~$168.16 per share (ranging from $166.97 to $169.64)
• Plan Trading: The transactions were executed pursuant to a Rule 10b5-1 trading plan.

Breakdown of Transactions

• October 19, 2026: Sold 10,000 shares across four price tiers ($166.9661, $167.2158, $168.5313, and $169.6412).
• October 20, 2026: Sold 10,000 shares across two price tiers ($168.6116 and $169.4241).
• October 21, 2026: Sold 10,000 shares across three price tiers ($167.6741, $168.5005, and $169.2340).

Post-Transaction Holdings

Following these dispositions, Hershey Trust Company retains:

• Direct Common Stock: 536,119 shares
• Indirect Common Stock: 39,630 shares
• Class B Common Stock: 54,612,012 shares (convertible 1:1 into Common Stock)

Significance

The trading significance is assessed as Low. The 30,000 common shares sold represent a minor fraction of the Trust's total holdings and voting power, which is heavily anchored by its 54.6M+ Class B shares. Furthermore, the disposition was carried out under a pre-established Rule 10b5-1 plan.