Form 4: Hershey Director Ozan Acquires Shares Under 10b5-1 Plan

Hershey Co. Director Kevin M. Ozan reported the acquisition of 246.697 shares of common stock on January 1, 2026, increasing his direct beneficial ownership to 1,848.744 shares.

Summary

• Kevin M. Ozan, a Director of The Hershey Co. (HSY), reported changes in his beneficial ownership of common stock.
• On January 1, 2026, Ozan acquired 246.697 shares of Hershey Co. Common Stock.
• The acquisition was made at a price of $0, typically indicating a grant or award as part of compensation.
• This transaction was executed pursuant to a Rule 10b5-1(c) plan, a pre-arranged contract for the purchase or sale of equity securities.
• Following this transaction, Ozan directly beneficially owns a total of 1,848.744 shares of Common Stock.
• The reported total beneficial ownership includes 11.583 shares acquired on December 15, 2025, through a dividend reinvestment feature of the Company's Directors' Compensation Plan.

Sentiment

Score: 7

Explanation: The acquisition of shares by a director, even if a grant at $0, and executed under a Rule 10b5-1 plan, generally signals continued alignment of management with shareholder interests and a structured approach to equity compensation.

Positives

• A Director of The Hershey Co. acquired additional shares, which can signal continued confidence in the company's future performance and aligns management's interests with shareholders.
• The transaction was conducted under a Rule 10b5-1 plan, indicating a pre-planned and structured approach to equity acquisition, which can reduce concerns about opportunistic insider trading.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This Form 4 filing reports a routine insider transaction for a director of The Hershey Co. and does not provide information directly related to broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: May view the director's increased ownership as a positive signal of confidence in the company's long-term prospects and management's alignment with shareholder interests.

Key Dates

Recommendation

While the acquisition of shares by a director is generally a positive signal of confidence, this Form 4 primarily reports a routine grant or award of shares rather than an open market purchase. It reinforces management's alignment but does not provide new fundamental information to warrant a change from a 'hold' position based solely on this filing.

Keywords

HSY, Hershey, Kevin Ozan, Director, Insider Transaction, Stock Acquisition, Form 4, Beneficial Ownership, 10b5-1 Plan