Michele Buck - 14 Jul 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
14 Jul 2023
Net transactions value
-$2,951,759
Form type
4
Filing time
17 Jul 2023, 16:12:37 UTC
Previous filing
15 Jun 2023
Next filing
23 Feb 2024
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 $684,392 -2,870 -2.5% $238.46 111,751 14 Jul 2023 Direct F1, F2
transaction HSY Common Stock Sale $509,313 -2,130 -1.8% $239.11 114,621 14 Jul 2023 Direct F1, F3
transaction HSY Common Stock Sale $377,263 -1,584 -1.3% $238.17 116,751 14 Jul 2023 Direct F1, F4
transaction HSY Common Stock Sale $816,373 -3,416 -2.8% $238.98 118,335 14 Jul 2023 Direct F1, F5
transaction HSY Common Stock Sale $336,080 -1,411 -1.1% $238.19 121,751 14 Jul 2023 Direct F1, F6
transaction HSY Common Stock Sale $678,774 -2,840 -2.3% $239.00 123,162 14 Jul 2023 Direct F1, F7
transaction HSY Common Stock Options Exercise $450,436 +4,251 +3.5% $105.96 126,002 14 Jul 2023 Direct

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 -4,251 -100% $0.000000* 0 14 Jul 2023 Common Stock 4,251 $105.96 Direct F8
* 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 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 $237.880 to $238.860 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 $238.880 to $239.380 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 $237.570 to $238.550 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 $238.610 to $239.340 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 $237.670 to $238.530 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 $238.670 to $239.350 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 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.