Hershey Trust Co Trustee in Trust for Milton Hershey School filed a Form 4 with the SEC on November 2, 2026, disclosing the sale of common shares of The Hershey Company (NYSE:HSY) across ten transactions on October 29 and October 30, 2026, conducted under a Rule 10b5-1 plan.

Key Highlights

  • Total shares sold: 20,000 shares of Common Stock, $1.00 par value, disposed of across 10 separate sale transactions on October 29 and October 30, 2026.
  • Price range: Individual transaction weighted average prices ranged from $160.4505 to $165.3956, with underlying per-share prices spanning from $160.0025 to $165.9400 across all transactions, according to the filing.
  • Remaining direct ownership: Following all reported transactions, the reporting person directly held 466,119 shares of Common Stock, $1.00 par value.
  • Indirect holdings: The filing also reports 39,630 shares held indirectly by Hershey Trust Company, and beneficial ownership of 54,612,012 shares of Class B Common Stock, $1.00 par value, held directly as a derivative security.
  • Rule 10b5-1 plan: The filing indicates transactions were made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
  • Reporting person relationship: The reporting person is identified as a 10% owner of The Hershey Company.

Hershey Trust's October 2026 Common Stock Sales in Detail

According to the Form 4 filed November 2, 2026, Hershey Trust Co Trustee in Trust for Milton Hershey School disposed of shares of Hershey Company Common Stock, $1.00 par value, across two trading days. On October 29, 2026, six sale transactions were reported, covering 4,952 shares at a weighted average of $160.4505, 2,126 shares at $161.5862, 930 shares at $162.3523, 1,627 shares at $163.4434, 300 shares at $164.1235, and 65 shares at $165.6749. All prices reported for multi-transaction tranches are weighted averages, and the filing states that full per-share detail is available upon request to the SEC staff, any Hershey security holder, or The Hershey Company itself.

On October 30, 2026, four additional sale transactions were disclosed: 75 shares at $161.7717, 208 shares at $162.1302, 260 shares at $163.3069, 3,883 shares at $164.5932, and 5,574 shares at $165.3956. Following all reported sales, the filing states the reporting person directly beneficially owned 466,119 shares. The filing also reports 39,630 shares held indirectly, with the filing noting that "Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust."

The filing additionally discloses beneficial ownership of 54,612,012 shares of Class B Common Stock, $1.00 par value, held directly as a derivative security. The filing states that all Class B shares are "convertible share-for-share into common stock, $1.00 par value, at any time, and without payment other than for the fact of conversion," with no expiration date. The conversion price is described as "the market price of the Common Stock on the previous business day." The filing was signed by Muzzamil Mussani, VP, Investment Operations and Portfolio Analytics, on November 2, 2026.

What Was Disclosed

Hershey Trust Co Trustee in Trust for Milton Hershey School reported the disposal of 20,000 shares of Hershey Company Common Stock across 10 transactions on October 29 and 30, 2026, under a Rule 10b5-1 plan, with direct holdings falling to 466,119 shares following the sales.