HERSHEY CO — Director's Dealing 2023

May 26, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HERSHEY CO (HSY)
CIK: 0000047111
Period of Report: 2023-05-24

Reporting Person: HERSHEY TRUST CO TRUSTEE IN TRUST FOR MILTON HERSHEY SCHOOL (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-24	Common Stock, $1.00 par value	C	2500000	$262.47	Acquired	2500000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-24	Class B Common Stock, $1.00 par value	$262.47	C	2500000	Disposed		Common Stock, $1.00 par value (2500000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $1.00 par value	39630	Indirect

Footnotes

F1: Shares received upon conversion of Class B common stock. The conversion price is the market price at the time of conversion and represents the closing price on 5/24/2023.

F2: Hershey Trust Company is wholly owned by Milton Hershey School Trust and is trustee for the Milton Hershey School Trust.

F3: All shares of Class B common stock, $1.00 par value are 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.

F4: The conversion price is the market price at the time of conversion and represents the closing price on 5/24/2023.