Hershey Trust Co Trustee In Trust For Milton Hershey School - Jun 27, 2023 Form 4 Insider Report for HERSHEY CO (HSY)

Role
10%+ Owner
Signature
Derek Holjes, VP Finance Hershey Trust Co Trustee in Trust for Milton Hershey School
Stock symbol
HSY
Transactions as of
Jun 27, 2023
Transactions value $
-$2,680,317
Form type
4
Date filed
6/29/2023, 01:32 PM
Previous filing
Jun 26, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HSY Common Stock, $1.00 par value Sale -$2.38M -9.15K -0.44% $260.34 2.07M Jun 27, 2023 Direct F1, F2
transaction HSY Common Stock, $1.00 par value Sale -$298K -1.14K -0.06% $261.14 2.07M Jun 27, 2023 Direct F1, F3
holding HSY Common Stock, $1.00 par value 39.6K Jun 27, 2023 By Hershey Trust Company F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding HSY Class B Common Stock, $1.00 par value 54.6M Jun 27, 2023 Common Stock, $1.00 par value 54.6M $249.59 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The Sales Reported in this form 4 were pursuant to Rule 10b5-1 Plan adopted by the reporting person on May 24, 2023. accordingly, the reporting person had no discretion with regard to the timing of the transaction.
F2 The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transaction at price ranging from 260.00 to 260.99, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
F3 The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transaction at price ranging from 261.00 to 261.99, inclusive. The reporting person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of The Hershey Company, or to The Hershey Company, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
F4 Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.
F5 All shares of Class B common stock, $1.00 par value convertible share-for-share into common stock, $1.00 par value, at any time, and without payment other than for the fact of conversion. There is no expiration date.
F6 The conversion price is the market price at the time of conversion and represents the closing price on the previous business day, which is 06/28/2023