McCalman Jennifer 4

What Happened
Jennifer McCalman, Vice President and Chief Accounting Officer of Hershey Co (HSY), was granted 1,626 shares (reported as an award/acquisition at $0) on February 25, 2026. To satisfy tax withholding on the award, 130 shares were disposed of (code F) at $229.64 per share, generating proceeds of $29,853 that covered tax obligations. This transaction is an equity award (not an open-market purchase or sale).

Key Details

• Transaction dates: February 25, 2026 (award and tax-withholding disposal).
• Award: 1,626 shares, reported acquisition price $0 (grant/award).
• Tax withholding: 130 shares disposed at $229.64 per share; total $29,853.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnote/meaning: code F indicates shares were withheld to cover tax liability (typical for equity awards).
• Filing: Form 4 filed Feb 27, 2026 — appears to be a timely filing (within standard two business days).

Context
Withholding shares to cover taxes is a common administrative step when employees receive restricted stock or similar awards; it does not by itself signal a decision to sell shares on the open market. The award was recorded at $0 in the Form 4 (typical for grants — market value may differ), and the disposed shares were used solely for tax purposes. This is an insider award/tax withholding event, not a purchase or an opportunistic sale.