HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL 4

What Happened

• Hershey Trust Company, as trustee for the Milton Hershey School Trust (a >10% holder), sold a total of 20,000 Hershey Co. (HSY) shares in open-market transactions on July 9–10, 2026. The sales were executed in multiple blocks with reported weighted-average prices of $170.96, $171.52, $172.43, $173.21, $171.79, $172.43, $173.59 and $174.11, for a combined proceeds of approximately $3,447,687 (about $172.39 per share on average). These were sales (not purchases), which are often routine for large institutional holders and do not by themselves indicate company performance.

Key Details

• Transaction dates: July 9–10, 2026.
• Shares sold: 20,000 total (individual blocks: 338; 6,389; 2,665; 608; 1,031; 4,444; 3,869; 656).
• Reported weighted-average prices by block: $170.96, $171.52, $172.43, $173.21, $171.79, $172.43, $173.59, $174.11 (overall avg ≈ $172.39).
• Total proceeds: ≈ $3,447,687.
• Shares owned after transaction: not stated in the provided filing details.
• Footnotes: each block’s price is a weighted average across multiple executions (reported ranges ~ $170.92 up to $174.25). Footnote confirms Hershey Trust Co. is trustee for Milton Hershey School Trust (the Trust is the beneficial owner).
• Filing timeliness: filed July 10, 2026 — appears timely under Form 4 reporting rules (no late filing indicated).

Context

• The seller is a 10% institutional/trust holder (Milton Hershey School Trust via its trustee), not an individual company executive; institutional trust sales can reflect cash-management needs rather than insider sentiment about the company.
• These were open-market sales (code S). No options exercised, awards, or gifts were reported in this filing.