HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL 4

What Happened
Hershey Trust Company, as trustee in trust for the Milton Hershey School (a reported 10% owner), sold a total of 30,000 shares of The Hershey Company (HSY) common stock in open‑market transactions between July 13 and July 15, 2026. The sales were executed in multiple tranches (10,000 shares each day) at weighted‑average prices across the trades, producing aggregate proceeds of approximately $5,175,854. This was a sale (S) transaction — typically routine for a large institutional holder and not necessarily a signal of management sentiment.

Key Details

• Transaction dates: July 13–15, 2026 (sales executed across three days: 10,000 shares each day).
• Shares sold: 30,000 total (10,000 on 7/13; 10,000 on 7/14; 10,000 on 7/15).
• Proceeds: ~$5,175,854 total (≈ $172.53–$177.64 reported as weighted averages across tranches; see footnotes for exact price ranges per lot).
• Filing: Form 4 filed July 15, 2026 (timely relative to the transaction dates).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Notable footnotes: Multiple footnotes (F1–F15) state that prices are weighted averages and list price ranges for individual tranches; F16 clarifies Hershey Trust Co. is the trustee for Milton Hershey School Trust (the 10% owner). No 10b5‑1 plan or other special instruction was disclosed in the provided text.

Context
This sale was by a 10% institutional owner (a trust), not an individual executive; such transactions are often part of institutional liquidity or trust management rather than a direct signal about company prospects. The filing includes weighted‑average price ranges for each tranche and offers to provide detailed execution prices on request.