HERSHEY CO — Director's Dealing 2023

May 16, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HERSHEY CO (HSY)
CIK: 0000047111
Period of Report: 2023-05-15

Reporting Person: Buck Michele (Director, Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-15	Common Stock	M	4251	$105.96	Acquired	146002	Direct
2023-05-15	Common Stock	S	3337	$270.701	Disposed	142665	Direct
2023-05-15	Common Stock	S	600	$271.785	Disposed	142065	Direct
2023-05-15	Common Stock	S	300	$272.60	Disposed	141765	Direct
2023-05-15	Common Stock	S	14	$274.13	Disposed	141751	Direct
2023-05-15	Common Stock	S	3860	$270.69	Disposed	137891	Direct
2023-05-15	Common Stock	S	900	$271.939	Disposed	136991	Direct
2023-05-15	Common Stock	S	200	$272.835	Disposed	136791	Direct
2023-05-15	Common Stock	S	40	$274.112	Disposed	136751	Direct
2023-05-15	Common Stock	S	3819	$270.681	Disposed	132932	Direct
2023-05-15	Common Stock	S	865	$271.562	Disposed	132067	Direct
2023-05-15	Common Stock	S	300	$272.67	Disposed	131767	Direct
2023-05-15	Common Stock	S	16	$274.17	Disposed	131751	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-15	Non-qualified Stock Option (Right to Buy)	$105.96	M	4251	Disposed	2024-02-17	Common Stock (4251)	Direct

Footnotes

F1: This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $270.240 to $271.220. 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 $271.450 to $272.190. 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.

F3: This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $272.470 to $272.670. 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 $270.280 to $271.215. 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 $271.655 to $272.505. 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 $272.820 to $272.850. 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 $274.100 to $274.330. 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 $270.240 to $271.190. 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.

F9: This reflects the weighted average price for the shares, which were sold in multiple transactions at prices that ranged from $271.290 to $271.810. 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 $272.660 to $272.680. 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.

F11: 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.