Michele Buck - Apr 14, 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
Stock symbol
HSY
Transactions as of
Apr 14, 2023
Transactions value $
-$3,203,965
Form type
4
Date filed
4/17/2023, 04:12 PM
Previous filing
Mar 23, 2023
Next filing
May 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HSY Common Stock Sale -$1.1M -4.3K -2.83% $256.31 147K Apr 14, 2023 Direct F1
transaction HSY Common Stock Sale -$180K -700 -0.47% $257.18 147K Apr 14, 2023 Direct F2
transaction HSY Common Stock Sale -$1.1M -4.3K -2.93% $256.30 142K Apr 14, 2023 Direct F3
transaction HSY Common Stock Sale -$180K -700 -0.49% $257.18 142K Apr 14, 2023 Direct F4
transaction HSY Common Stock Sale -$154K -600 -0.39% $257.24 152K Apr 14, 2023 Direct F5
transaction HSY Common Stock Options Exercise $450K +4.25K +2.8% $105.96 156K Apr 14, 2023 Direct
transaction HSY Common Stock Sale -$936K -3.65K -2.34% $256.30 152K Apr 14, 2023 Direct F6

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 -4.25K -25% $0.00 12.8K Apr 14, 2023 Common Stock 4.25K $105.96 Direct F7
* 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 This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $255.850 to $256.680. 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.
F2 This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $257.070 to $257.300. 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 $255.850 to $256.680. 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 $257.070 to $257.300. 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 $257.070 to $257.460. 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 $255.940 to $256.890. 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 The options vested according to the following schedule: 25% vested on February 18, 2015, 25% vested on February 18, 2016, 25% vested on February 18, 2017 and 25% vested on February 18, 2018.