UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue.
1. Name and Address of Reporting Person(s)
Brace Raymond
Corporate Headquarters
100 Crystal A Drive
Hershey, PA 17033
2. Issuer Name and Ticker or Trading Symbol
Hershey Foods Corporation (HSY)
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
February 1998
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [ ]
Director [ ] 10% Owner [X] Officer (give title below) [ ] Other (specify
below) VP, Operations Hershey Foods Corporation
7. Individual or Joint/Group Filing (Check Applicable Line) [X] Form filed by
One Reporting Person [ ] Form filed by More than One Reporting Person
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
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Table II (PART 1) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
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1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
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Deferred Performance Share 02/17/98 J (1) V 4,402.0000
Unit
Non-Qualified Stock Option $63.6875 02/03/98 A V 3,000.0000 02/03/08
(right to buy)(2)
Table II (PART 2) Derivative Securitites Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
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1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
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Deferred Performance Share 02/17/98 Common Stock 4,402.0000 12,500.0000 D
Unit
Non-Qualified Stock Option 02/03/98 Common Stock 3,000.0000 3,000.0000 D
(right to buy)(2)
Explanation of Responses:
(1)
Settlement of Performance Share Units granted on January 3, 1995 pursuant to
Hershey Foods Corporation Key Employee Incentive Plan. Settlement involved the
deferral of the entire award of 4402 Deferred Performance Share Units after
certain mandatory tax withholdings.
(2)
These options were granted under the Hershey Foods Corporation 1987 Key
Employee Incentive Plan, and they have a stock withholding feature which
permits the withholding of shares of stock at the time of exercise to satisfy
the grantee's income tax withholding rights.
SIGNATURE OF REPORTING PERSON
/S/ Brace Raymond
DATE 03/09/98
