Michele Buck - 17 Jan 2023 Form 4 Insider Report for HERSHEY CO (HSY)

Role: Chairman, President and CEO, Director
Signature: /s/ Lauren H. Lacey, Agent for Michele G. Buck
Issuer symbol: HSY
Transactions as of: 17 Jan 2023
Net transactions value: -$2,790,573
Form type: 4
Filing time: 19 Jan 2023, 15:09:23 UTC
Previous filing: 15 Dec 2022
Next filing: 15 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HSY	Common Stock	Sale	$454,898	-2,009	-1.4%	$226.43	138,546	17 Jan 2023	Direct	F1, F2
transaction	HSY	Common Stock	Sale	$429,595	-1,891	-1.4%	$227.18	136,655	17 Jan 2023	Direct	F1, F3
transaction	HSY	Common Stock	Sale	$22,815	-100	-0.07%	$228.15	136,555	17 Jan 2023	Direct	F1
transaction	HSY	Common Stock	Sale	$206,778	-900	-0.66%	$229.75	135,655	17 Jan 2023	Direct	F1, F4
transaction	HSY	Common Stock	Sale	$23,054	-100	-0.07%	$230.54	135,555	17 Jan 2023	Direct	F1
transaction	HSY	Common Stock	Sale	$458,282	-2,024	-1.5%	$226.42	133,531	17 Jan 2023	Direct	F1, F5
transaction	HSY	Common Stock	Sale	$426,248	-1,876	-1.4%	$227.21	131,655	17 Jan 2023	Direct	F1, F6
transaction	HSY	Common Stock	Sale	$22,715	-100	-0.08%	$227.15	131,555	17 Jan 2023	Direct	F1
transaction	HSY	Common Stock	Sale	$229,811	-1,000	-0.76%	$229.81	130,555	17 Jan 2023	Direct	F1, F7
transaction	HSY	Common Stock	Options Exercise	$450,330	+4,250	+3.3%	$105.96	134,805	17 Jan 2023	Direct
transaction	HSY	Common Stock	Sale	$348,172	-1,538	-1.1%	$226.38	133,267	17 Jan 2023	Direct	F1, F8
transaction	HSY	Common Stock	Sale	$381,900	-1,681	-1.3%	$227.19	131,586	17 Jan 2023	Direct	F1, F9
transaction	HSY	Common Stock	Sale	$45,625	-200	-0.15%	$228.12	131,386	17 Jan 2023	Direct	F1, F10
transaction	HSY	Common Stock	Sale	$191,010	-831	-0.63%	$229.86	130,555	17 Jan 2023	Direct	F1, F11

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
transaction	HSY	Non-qualified Stock Option (Right to Buy)	Options Exercise	$0	-4,250	-14%	$0.000000	25,505	17 Jan 2023	Common Stock	4,250	$105.96	Direct	F12

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 16, 2022.
F2	This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $225.940 to $226.930. Upon the request of the SEC staff, the issuer or a security holder of the issuer, the reporting person undertakes to provide information regarding the number of shares sold at each separate price.
F3	This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $226.960 to $227.670. Upon the request of the SEC staff, the issuer or a security holder of the issuer, the reporting person undertakes to provide information regarding the number of shares sold at each separate price.
F4	This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $229.390 to $230.190. Upon the request of the SEC staff, the issuer or a security holder of the issuer, the reporting person undertakes to provide information regarding the number of shares sold at each separate price.
F5	This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $225.940 to $226.930. Upon the request of the SEC staff, the issuer or a security holder of the issuer, the reporting person undertakes to provide information regarding the number of shares sold at each separate price.
F6	This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $226.940 to $227.670. Upon the request of the SEC staff, the issuer or a security holder of the issuer, the reporting person undertakes to provide information regarding the number of shares sold at each separate price.
F7	This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $229.390 to $230.540. Upon the request of the SEC staff, the issuer or a security holder of the issuer, the reporting person undertakes to provide information regarding the number of shares sold at each separate price.
F8	This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $225.850 to $226.730. Upon the request of the SEC staff, the issuer or a security holder of the issuer, the reporting person undertakes to provide information regarding the number of shares sold at each separate price.
F9	This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $226.900 to $227.700. Upon the request of the SEC staff, the issuer or a security holder of the issuer, the reporting person undertakes to provide information regarding the number of shares sold at each separate price.
F10	This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $228.060 to $228.19. Upon the request of the SEC staff, the issuer or a security holder of the issuer, the reporting person undertakes to provide information regarding the number of shares sold at each separate price.
F11	This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $229.540 to $230.485. Upon the request of the SEC staff, the issuer or a security holder of the issuer, the reporting person undertakes to provide information regarding the number of shares sold at each separate price.
F12	The options vested according to the following schedule: 25% vested on February 17, 2015, 25% vested on February 17, 2016, 25% vested on February 17, 2017 and 25% vested on February 17, 2018.