Hershey Co. Files 8-K: Director Changes & Officer Compensation Updates

Ticker: HSY · Form: 8-K · Filed: 2024-09-05T00:00:00.000Z

Sentiment: neutral

Topics: corporate-governance, executive-compensation, board-of-directors

Related Tickers: HSY

TL;DR

Hershey's board is shuffling, with a new director coming aboard and exec pay plans getting tweaked.

AI Summary

The Hershey Company filed an 8-K on August 29, 2024, reporting on the departure of a director, election of a new director, and changes to compensatory arrangements for certain officers. The filing also includes a Regulation FD disclosure and financial statements/exhibits.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — This filing primarily concerns routine corporate governance and executive compensation matters, not significant financial distress or operational disruptions.

Key Players & Entities

FAQ

Who is the departing director and who is the newly elected director?

The filing mentions the departure of a director and the election of a new director, but their specific names are not detailed in the provided text.

What specific changes were made to the compensatory arrangements for certain officers?

The filing indicates changes to compensatory arrangements for certain officers, but the specific details of these changes are not provided in the excerpt.

What is the purpose of the Regulation FD Disclosure mentioned in the filing?

The purpose of the Regulation FD Disclosure is to ensure that material non-public information is broadly disseminated to the public, preventing selective disclosure.

What financial statements and exhibits are included with this 8-K filing?

The filing states that Financial Statements and Exhibits are included, but the specific content of these documents is not detailed in the provided text.

When was The Hershey Company incorporated and what is its IRS Employer Identification Number?

The Hershey Company was incorporated in Delaware and its IRS Employer Identification Number is 23-0691590.

Filing Stats: 612 words · 2 min read · ~2 pages · Grade level 10.7 · Accepted 2024-09-05 08:45:10

Filing Documents

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On September 5, 2024, the Company issued a press release announcing Mr. Raup's upcoming retirement from the Company and the appointment of Michael Del Pozzo as President, U.S. Confection, effective September 16, 2024. A copy of the press release is attached hereto as Exhibit 99.1 and is hereby incorporated into this Item 7.01 by reference. The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 The Hersey Company Press Release dated September 5, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE HERSHEY COMPANY Date: September 5, 2024 By: /s/ James Turoff James Turoff Senior Vice President, General Counsel and Secretary

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