SEC Form 4 · accession 0001127602-17-009973
HERSHEY CO · HSY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michele Buck
Officer — President and CEO · Director
Period of report
Mar 1, 2017
Accepted (ET)
Mar 3, 2017 · 1:01 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000047111
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 1, 2017 | M | 2,000 | $60.68 | A | 158,199 | D | |
| Common Stock | Mar 1, 2017 | S | 2,000 | $108.60 | D | 156,199 | D | |
| Common Stock | Mar 1, 2017 | A | 11,262 | $0.00 | A | 167,461 | D | |
| Common StockF2 | holding | — | — | — | 173 | I | 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-qualified Stock Option (Right to Buy)F3 | $60.68 | Mar 1, 2017 | M | 2,000 | D | — | Feb 20, 2022 | Common Stock | 2,000 | 6,507 | D |
| Non-qualified Stock Option (Right to Buy)F4 | $109.40 | Mar 1, 2017 | A | 77,160 | A | — | Feb 28, 2027 | Common Stock | 77,160 | 77,160 | D |
Explanation of responses
- F1The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 31, 2016.
- F2The total amount of securities reported as indirectly owned by the reporting person represents a reduction of .2283 shares allocated to the reporting person's account in the Company's 401(k) Plan ("Plan") as of February 28, 2017. To manage liquidity needs of the Plan, the Plan trustee from time-to-time maintains a lower overall share balance (versus cash) in the Plan, which in this instance resulted in a reduction in the number of shares allocated to the reporting person's account when compared to the reporting person's Form 4 filed on February 24, 2017. The information is based on a report dated March 1, 2017, provided by the Plan trustee.
- F3The options vested according to the following schedule: 25% vested on February 21, 2013, 25% vested on February 21, 2014, 25% vested on February 21, 2015 and 25% vested on February 21, 2016.
- F4Options vest according to the following schedule: 25% vest on the first anniversary of the grant date, an additional 25% vest on the second anniversary of the grant date, an additional 25% vest on the third anniversary of the grant date, and the options become fully vested on the fourth anniversary of the grant date.