Hershey CFO Steven E. Voskuil Sells 1,500 Shares Under Pre-Set Rule 10b5-1 Trading Plan

Details and Timeline of Insider Transaction

Steven E. Voskuil, serving as SVP and CFO of The Hershey Company, filed an insider transaction report revealing the sale of 1,500 common stock shares on July 20, 2026. The shares were sold at $170 each. Voskuil’s residence is listed as 19 East Chocolate Avenue, Hershey, Pennsylvania, the company’s headquarters location.

The transaction was executed according to a Rule 10b5-1 trading plan that Voskuil established on May 20, 2025. These plans enable insiders to set predetermined schedules and prices for stock sales, ensuring transactions are conducted in good faith and not based on material nonpublic information. This pre-established plan confirms that the July 2026 sale followed parameters set months earlier.

Beneficial Ownership After the Sale

Following the sale, Voskuil retains direct beneficial ownership of 53,195 Hershey shares. This reflects his personal holdings in the company post-transaction. The filing confirms these shares are held directly, not through any indirect ownership structures, which is typical for senior executives.

Despite selling 1,500 shares, Voskuil maintains a significant equity stake in Hershey, demonstrating alignment with shareholder interests in the performance of the global confectionery leader.

Rule 10b5-1 Trading Plan and Insider Compliance

The transaction complies with Rule 10b5-1(c) of the Securities Exchange Act of 1934, which allows insiders to create binding trading plans even when in possession of material nonpublic information, under specified conditions. Establishing such plans in advance provides an affirmative defense against allegations of insider trading by showing transactions were pre-planned.

The insider transaction report confirms that this sale was executed pursuant to a contract or written plan meeting Rule 10b5-1(c) requirements. This compliance mechanism is commonly used by corporate officers to ensure transparency and regulatory adherence. Voskuil’s use of this plan clarifies the nature and timing of his stock sale.

About The Hershey Company and CFO Role

The Hershey Company is a leading global manufacturer of chocolate and confectionery products, with a broad portfolio serving multiple international markets. Its business focuses on producing and distributing branded chocolate bars, candies, and related products through extensive distribution networks.

As CFO, Voskuil oversees financial planning, accounting, treasury, and investor relations for the multinational confectionery firm. His substantial equity ownership indicates continued personal investment aligned with shareholder returns. The filing notes his officer status but does not indicate he serves as a director or holds 10% or more of company shares.

SEC Disclosure Requirements for Officer Transactions

Public company officers must report beneficial ownership changes under Section 16(a) of the Securities Exchange Act of 1934 via Form 4 filings within two business days of a transaction. These disclosures provide transparency about insider trading activities to investors and regulators.

Voskuil’s report was filed on July 21, 2026, promptly following his July 20 stock sale. It details transaction dates, share amounts, prices, and post-sale ownership, allowing investors and analysts to monitor insider activity as part of evaluating company developments.

Direct Ownership and Reporting Classification

The report indicates Voskuil holds his remaining 53,195 shares directly, meaning personal ownership rather than through trusts or entities. This direct holding is standard among corporate officers and provides clear disclosure of beneficial ownership. The filing confirms a single reporting person rather than a group filing.

Direct ownership underscores executive commitment by eliminating ambiguity about exposure to company performance. Voskuil’s reported structure reflects straightforward personal equity in Hershey.

Stock Sale Pricing and Market Context

The sale price of $170 per share was set under Voskuil’s Rule 10b5-1 trading plan established on May 20, 2025. This predetermined pricing removes discretion from the timing or price selection, mitigating concerns about trading on inside information.

While investors often view insider sale prices as indicators of executive sentiment, pre-established plans reduce the informational value of individual sales. The filing does not disclose Hershey’s stock prices on the transaction date, so the relative value of $170 cannot be assessed from this report.

Regulatory Compliance and Filing Verification

The insider transaction report was signed by Kathleen S. Purcell, acting as an agent for Voskuil, on July 21, 2026. Authorized agents are permitted under SEC rules to file such reports. The signature includes a legal notice emphasizing the criminal penalties for intentional misstatements or omissions.

The report references SEC Form 4 instructions, ensuring compliance with disclosure format and content standards. Filing through the SEC’s electronic system guarantees public access on the same business day.

Investment Insights and Monitoring Insider Activity

Properly disclosed insider trades provide insights into executive decisions regarding company stock. Although pre-established plans limit the informational content of single transactions, Voskuil’s retention of over 53,000 shares signals ongoing confidence in Hershey’s prospects.

Investors tracking Hershey may consider insider buying and selling trends over time to gauge executive sentiment. While a single sale offers limited data, cumulative insider activity combined with company news forms a valuable analytical tool. Public disclosure ensures transparency of such insider dealings.