0000046080-26-000041 | 11-K | XBRL Viewer

Risks and Uncertainties	12 Months Ended
Dec. 31, 2025
EBP 004
EBP, Risk and Uncertainty [Line Items]
Risks and Uncertainties	Risks and Uncertainties The Plan provides for investments in various funds, which invest in equity and debt securities and other investments. Such investments are exposed to risks and uncertainties, such as interest rate risk, credit risk, economic and political risks, regulatory changes, and foreign currency risk. In addition, participants may elect to invest up to 25% of their contributions in the Hasbro Stock Fund. The underlying performance of this fund is dependent upon the performance of the Company and the market's evaluation of such performance. The Plan's exposure to a concentration of credit risk is subject to the Plan's investment funds selected by participants. These risks and uncertainties could impact participants' account balances and the amounts reported in the financial statements.

Plan Termination	12 Months Ended
Dec. 31, 2025
EBP 004
EBP, Plan Termination [Line Items]
Plan Termination	Plan Termination Upon termination of the Plan and trust, each participant thereby affected shall be entitled to receive the full value of the participant’s vested account balance in accordance with the terms of the Plan as of the final valuation date. The Trustee shall make payments of such amounts as directed by the Plan Administrator. Although the Company has not expressed any intent to do so, it reserves the right to terminate the Plan at any time subject to ERISA provisions.

Plan Merger (Details) - USD ($)	12 Months Ended
Dec. 31, 2025	Dec. 31, 2024
EBP 002
EBP, Plan Merger [Line Items]
Net transfer of assets into Plan (Note 9)	$ 0	$ 1,919,898

Federal Income Taxes	12 Months Ended
Dec. 31, 2025
EBP 004
EBP, Tax Status [Line Items]
Federal Income Taxes	Federal Income Taxes The Internal Revenue Service issued a determination letter on July 19, 2016, stating that the Plan and its underlying trust are designed in accordance with applicable sections of the Internal Revenue Code (IRC). Although the Plan has been amended since the effective date of the determination letter, the Plan Administrator believes that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC and therefore believes that the Plan is qualified and the related trust is tax-exempt. Therefore, no provision for income taxes is included in the Plan’s financial statements. U.S. GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2025 and 2024, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

Fair Value Measurements (Details) - EBP 004 - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Fair Value
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	$ 1,050,565,943	$ 935,968,024
Fair Value \| Cash and Cash Equivalents
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	2,388,785	2,228,550
Fair Value \| Hasbro, Inc. Common Stock
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	15,889,550	11,572,587
Fair Value \| Mutual Funds
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	55,147,288	56,228,824
Fair Value \| Commingled Funds
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	977,140,320	865,938,063
Quoted Prices in Active Markets for Identical Assets (Level 1)
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	1,050,565,943	935,968,024
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Cash and Cash Equivalents
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	2,388,785	2,228,550
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Hasbro, Inc. Common Stock
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	15,889,550	11,572,587
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Mutual Funds
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	55,147,288	56,228,824
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Commingled Funds
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	977,140,320	865,938,063
Significant Other Observable Inputs (Level 2)
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	0	0
Significant Other Observable Inputs (Level 2) \| Cash and Cash Equivalents
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	0	0
Significant Other Observable Inputs (Level 2) \| Hasbro, Inc. Common Stock
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	0	0
Significant Other Observable Inputs (Level 2) \| Mutual Funds
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	0	0
Significant Other Observable Inputs (Level 2) \| Commingled Funds
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	0	0
Significant Unobservable Inputs (Level 3)
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	0	0
Significant Unobservable Inputs (Level 3) \| Cash and Cash Equivalents
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	0	0
Significant Unobservable Inputs (Level 3) \| Hasbro, Inc. Common Stock
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	0	0
Significant Unobservable Inputs (Level 3) \| Mutual Funds
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	0	0
Significant Unobservable Inputs (Level 3) \| Commingled Funds
EBP, Investment, Fair Value and NAV [Line Items]
Total Cash, cash equivalents and Investments	$ 0	$ 0

Summary of Significant Accounting Policies (Policies) - EBP 004	12 Months Ended
	Dec. 31, 2025
EBP, Accounting Policy [Line Items]
Basis of Accounting	Basis of Accounting The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires the Plan Administrator to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates. The accompanying financial statements are presented on the accrual basis of accounting. Benefits payable at year end are not accrued for as they are considered to be a component of the net assets available for plan benefits.
Investments	Investments Investments are stated at fair value with the exception of the Plan’s fully benefit-responsive investment contracts which are stated at contract value. See Note 8 for a discussion of the methods used to determine the fair value of investments held by the Plan. Security transactions received prior to 4:00 pm Eastern time by the Trustee are recognized on that business day. Transactions received after 4:00 pm Eastern time are valued as of the next business day. Interest income is recorded on the accrual basis and dividend income is recorded on the ex-dividend date. Net appreciation in the fair value of investments includes both realized and unrealized gains and losses.
Note Receivable from Participant	Notes Receivable from Participants Notes receivable from participants are recorded at the outstanding principal balance plus accrued interest.
Contributions	ContributionsContributions from employees are recorded by the Plan when deducted from employees' wages. The Company's matching contributions are accrued at the time the employee's contributions are deducted. For the years ended December 31, 2025 and 2024, employer and employee contributions for the last pay period of the year were paid to the Plan prior to the Plan's year end. The Company’s discretionary annual contribution for 2025 and 2024 was paid to the Plan subsequent to the end of the Plan year and was recorded as employer contributions receivable on the Statements of Net Assets Available for Plan Benefits at December 31, 2025 and December 31, 2024.
Payments of Benefits	Payments of Benefits Benefits are recorded when paid.
Administrative Expenses	Administrative Expenses The Plan bears all costs and general expenses incurred with regard to investment consulting, audit, legal and communication fees, other professional fees, independent fund managers and the purchase and sale of investments. These expenses are paid by the Plan participants equally. Other costs of administration are paid for by the Plan Administrator.

Related Party Transactions (Details) - EBP 004 - USD ($)	Dec. 31, 2025	Dec. 31, 2024
EBP, Related Party and Party-in-Interest Transactions [Line Items]
Investments at fair value	$ 1,048,177,158	$ 933,739,474
Cash and Cash Equivalents	$ 2,388,785	$ 2,228,550
Commingled Funds
EBP, Related Party and Party-in-Interest Transactions [Line Items]
Number of shares invested (in shares)	2,426,404	2,914,963
Investments at fair value	$ 215,197,810	$ 206,204,464
Hasbro, Inc. Common Stock
EBP, Related Party and Party-in-Interest Transactions [Line Items]
Number of shares invested (in shares)	193,775	206,986
Investments at fair value	$ 15,889,550	$ 11,572,587

- Definition

Fair value of investment, excluding plan interest in master trust, held by employee stock purchase, saving, or similar plan (employee benefit plan (EBP)). Includes, but is not limited to, derivative, investment measured at net asset value per share as practical expedient, and insurance contract not meeting fully-benefit responsive investment criteria.

+ References

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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Description of the Plan (Details) - EBP 004	12 Months Ended
Description of the Plan (Details) - EBP 004	Dec. 31, 2025 USD ($) h	Dec. 31, 2024 USD ($)
EBP, Description of Plan [Line Items]
Maximum contribution percentage	75.00%
Annual discretionary contribution, percentage	3.00%
Employer contributions	$ 10,272,001	$ 6,460,527
Participant, number of hours worked \| h	1,000
Forfeited nonvested account, decrease from employer	$ 227,624	671,771
Forfeited account balance	0	$ 0
Maximum loan amount available	$ 50,000
Maximum borrowing to total account, percent	50.00%
Minimum loan amount available	$ 500
Repayment of loans, general loan, term	5 years
Repayment of loans, primary residence, term	10 years
Maximum
EBP, Description of Plan [Line Items]
Participant compensation matched, percentage	6.00%
EBP, Employer Contribution, Match One
EBP, Description of Plan [Line Items]
Employer contribution matching percentage	200.00%
Participant compensation matched, percentage	2.00%
EBP, Employer Contribution, Match Two
EBP, Description of Plan [Line Items]
Employer contribution matching percentage	50.00%
Participant compensation matched, percentage	4.00%
EBP, Employer Matching Contribution
EBP, Description of Plan [Line Items]
Employer contribution vesting percentage	100.00%
EBP, Discretionary Profit Sharing Contribution
EBP, Description of Plan [Line Items]
Employer contribution vesting percentage	100.00%
EBP, Fixed Rate Contribution
EBP, Description of Plan [Line Items]
Employer contribution vesting serice period	3 years

Statements of Net Assets Available for Plan Benefits - EBP 004 - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and Cash Equivalents	$ 2,388,785	$ 2,228,550
Investments at fair value	1,048,177,158	933,739,474
Investments, at contract value	42,989,348	46,528,721
Total Cash, cash equivalents and Investments	1,093,555,291	982,496,745
Receivables:
Employer contributions	10,272,001	6,460,527
Due from brokers for securities sold	118,818	112,514
Notes receivable from participants	5,327,681	5,553,697
Total receivables	15,718,500	12,126,738
Total assets	1,109,273,791	994,623,483
Liabilities
Payables for securities purchased	414,545	104,456
Accrued expenses	151,082	167,009
Total liabilities	565,627	271,465
Net assets available for plan benefits	$ 1,108,708,164	$ 994,352,018

Description of the Plan	12 Months Ended
Description of the Plan	Dec. 31, 2025
EBP 004
EBP, Description of Plan [Line Items]
Description of the Plan	Description of Plan The following brief description of the Hasbro, Inc. Retirement Savings Plan ("the Plan") is provided for general information purposes only. Participants should refer to the Plan document for more complete information. (a) General The Plan is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA") and is available to substantially all domestic employees of Hasbro, Inc. and certain subsidiaries (collectively "the Company," "Plan Administrator," or "Plan Sponsor"). Participation in the Plan is voluntary and to be eligible, employees must have attained age 21 and be in a covered job classification. Fidelity Management Trust Company (“the Trustee”) serves as Trustee and Recordkeeper of the Plan. (b) Contributions Eligible employees may contribute up to 75% of their eligible pay, limited to an annual maximum of $23,500 in 2025 and $23,000 in 2024. Contributions may be limited to less than the maximum percentage of eligible pay to enable the Company to meet IRS discrimination regulations. The Company makes a matching contribution of 200% of the first 2% of the participants' eligible pay that they contribute per pay period, plus a 50% match of the next 4% of participants' eligible pay that they contribute per pay period up to a maximum matching contribution of 6% of a participant's eligible pay per pay period. The Company may also make a discretionary annual contribution after the close of each year, which is targeted at 3% of eligible pay. Discretionary contributions totaling $10,272,001 and $6,460,527 were made for plan years 2025 and 2024, respectively. All eligible employees who have reached age 50 by the end of the calendar year are permitted to make additional pre-tax deferrals over and above the otherwise applicable limits. These additional deferrals are called "catch-up contributions". Catch-up contributions may be made up to an additional $7,500 in 2025 and 2024. Additionally, in accordance with the SECURE 2.0 Act, as of January 1, 2025 an increased catch-up contribution limit applies for all eligible employees attaining ages 60 - 63 during the calendar year. This increased limit allows for additional deferrals, referred to as “super catch-up contributions”, to be made in an amount up to an additional $11,250 (rather than the $7,500 noted above). (c) Vesting All participants currently employed by the Company own, or are vested in, 100% of both employee contributions and the Company's matching contributions to the Plan. Participants become 100% vested in the Company's discretionary annual contribution after three years of vesting service. Participants earn one year of vesting service for each calendar year in which the participant has worked at least 1,000 hours. (d) Forfeitures The unvested portion of a terminated participant's account is forfeited and used to reduce future employer contributions. Forfeitures were $227,624 and $671,771 in 2025 and 2024, respectively. There were no forfeited account balances as of December 31, 2025 and 2024. (e) Payment of Benefits Payments to participants may be paid upon retirement, disability, or termination of employment. The account balance will be paid to a beneficiary upon death of the participant. Participants in the Plan have the option of receiving their benefit payments either in a lump sum or in periodic installments. Participants, except for terminated participants, may also make in-service withdrawals from their Pre-Tax Savings Contribution Account in the event of a demonstrated severe financial hardship as defined by the IRS Safe Harbor rules. Participants who have reached age 59 ½ may make in-service withdrawals from their vested accounts excluding the discretionary annual company contribution and the transition contribution sources in the Plan for any reason. Distributions made to individuals who have not attained the age of 59 ½ may be subject to an IRS imposed 10% early distribution penalty. (f) Notes Receivable from Participants The maximum loan available to each participant is the lesser of (1) $50,000 reduced by the highest outstanding loan balance due from the participant during the preceding twelve months, or (2) 50% of the participant's vested account balance, reduced by the current outstanding loan balance due from the participant. The minimum loan amount available to participants is $500. Each loan shall bear a fixed interest rate equal to the prime interest rate as published in the Wall Street Journal on the last day of the previous month. Repayment of the loan must be made over a period not to exceed five years, unless it is for the purchase of a primary residence, in which case the loan period cannot exceed ten years.

Schedule H, Line 4i – Schedule of Assets (Held At End of Year)

12 Months Ended

Dec. 31, 2025

EBP 004

EBP, Schedule of Asset Held for Investment [Line Items]

Schedule H, Line 4i – Schedule of Assets (Held At End of Year)

(a)

(b)

(c)

(e)

Identity of issuer, borrower, lessor or similar party

Description of investment including maturity date, rate of interest, collateral, par or maturity value

Current Value

Mutual Fund

Dodge & Cox Stock Fund

3,324,128 shares in registered investment company

55,147,288

Commingled Funds

Fidelity Growth Company Pool

2,426,404 units in common collective trust

215,197,810

BTC Equity Index Fund

2,108,669 units in common collective trust

132,185,729

BTC Lifepath 2050

2,334,375 units in common collective trust

97,087,137

BTC Lifepath 2045

2,142,153 units in common collective trust

83,394,446

BTC Lifepath 2040

2,198,060 units in common collective trust

78,252,270

BTC Lifepath 2035

2,222,616 units in common collective trust

71,190,376

BTC Lifepath 2055

1,575,211 units in common collective trust

67,685,240

BTC Lifepath 2030

1,852,596 units in common collective trust

52,715,793

BTC Russell 2500 Index Fund

1,296,730 units in common collective trust

50,413,615

MFS Institutional International Equity Fund

1,455,917 shares in common collective trust

33,209,471

BTC Lifepath Retirement

1,034,185 units in common collective trust

22,171,476

LS Core Plus Trust Fund Class B

1,230,937 units in common collective trust

16,531,468

BTC ACWI Ex-US IMI Index Fund

533,619 units in common collective trust

15,130,501

BTC Lifepath 2060

508,559 units in common collective trust

14,864,672

Eaton Vance Collective Investment Trust High Yield Fund

1,227,836 units in common collective trust

13,015,059

BTC Lifepath 2065

370,123 units in common collective trust

7,392,656

BTC US Debt Index NL Fund

318,832 units in common collective trust

4,062,241

Boston Trust SMID Cap Fund

190,777 units in common collective trust

2,640,360

Synthetic Guaranteed Investment Contracts (JP Morgan Stable Asset Fund)

Metropolitan Life Insurance Company

Synthetic Guaranteed Investment Contract

10,387,761

Voya Retirement Insurance and Annuity Company

Synthetic Guaranteed Investment Contract

10,387,050

Pacific Life Insurance Company

Synthetic Guaranteed Investment Contract

10,380,906

Transamerica Premier Life Insurance Company

Synthetic Guaranteed Investment Contract

10,366,226

Common Stock

Hasbro Stock Fund

193,775 shares of Hasbro, Inc. common stock

15,889,550

Cash and Cash Equivalents

Fidelity STIF

Cash and cash equivalents

2,388,785

Investments and Cash and Cash Equivalents

1,092,087,886

Notes Receivable from Participants

341 loans with interest rates from 3.25% to 8.5% and maturity dates from 2026 to 2035

5,327,681

Total Investments

1,097,415,567

* Denotes party-in-interest.

Column (d) representing cost information is not required for participant-directed investments and therefore is not included.

See accompanying report of independent registered public accounting firm.

Fair Value Measurements

12 Months Ended

Dec. 31, 2025

EBP 004

EBP, Investment, Fair Value and NAV [Line Items]

Fair Value Measurements

The Plan measures certain assets at fair value. The fair value hierarchy consists of three levels: Level 1 fair values are valuations based on quoted or published market prices, or published net asset values for alternative investments in funds similar to mutual funds, in active markets for identical assets or liabilities that the entity has the ability to access; Level 2 fair values are those valuations based on quoted or published prices for similar assets or liabilities, quoted or published prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities; and Level 3 fair values are valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Plan had the following assets measured at fair value in its Statements of Net Assets Available for Plan Benefits:


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2025
Cash and Cash Equivalents	$	2,388,785	$	2,388,785	$	—	$	—
Hasbro, Inc. Common Stock	15,889,550		15,889,550		—		—
Mutual Funds	55,147,288		55,147,288		—		—
Commingled Funds	977,140,320		977,140,320		—		—
Total Cash, cash equivalents and Investments	$	1,050,565,943	$	1,050,565,943	$	—	$	—

December 31, 2024
Cash and Cash Equivalents	$	2,228,550	$	2,228,550	$	—	$	—
Hasbro, Inc. Common Stock	11,572,587		11,572,587		—		—
Mutual Funds	56,228,824		56,228,824		—		—
Commingled Funds	865,938,063		865,938,063		—		—
Total Cash, cash equivalents and Investments	$	935,968,024	$	935,968,024	$	—	$	—

Cash and cash equivalents are held in a money market fund valued using published quotes.

Hasbro, Inc. Common Stock is valued at the composite closing price reported on The Nasdaq Global Select Market.

Mutual Funds and Commingled Funds are valued at the published market price as reported by the fund and are redeemable on a daily basis. The quoted market prices represent the net asset value (“NAV”) of shares held by the plan at year-end.

The availability of observable market data is monitored to assess the appropriate classification of the Plan’s investments within the fair value hierarchy. For the years ended December 31, 2025 and 2024, there were no changes in the fair value hierarchy methodology and no transfers of assets between levels within the fair value hierarchy.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

- Definition

The entire disclosure for fair value of investment held by employee stock purchase, saving, or similar plan (employee benefit plan (EBP)), including, but not limited to, fair value measured at net asset value per share as practical expedient (NAV).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Investment Information

12 Months Ended

Dec. 31, 2025

EBP 004

EBP, Master Trust [Line Items]

Investment Information

Participants may elect to have their accounts invested in one or more of the investment funds offered by the Plan. Investment options are selected by the Plan’s Investment Committee (which is comprised of members of management, established by the Board to monitor the Plan’s investment options and evaluate performance). At December 31, 2025, investment funds offered by the Plan included the following nationally traded mutual funds and commingled funds:


Mutual Fund			Commingled Funds
Dodge & Cox Stock Fund			Boston Trust SMID Cap Fund
			BTC ACWI ex-US IMI Index Fund
			BTC Equity Index Fund
			BTC Lifepath Retirement
			BTC Lifepath 2030
			BTC Lifepath 2035
			BTC Lifepath 2040
			BTC Lifepath 2045
			BTC Lifepath 2050
			BTC Lifepath 2055
			BTC Lifepath 2060
			BTC Lifepath 2065
			BTC Russell 2500 Index Fund
			BTC US Debt Index NL Fund
			Eaton Vance Collective Investment Trust High Yield Fund
			Fidelity Growth Company Pool
			LS Core Plus Trust Fund Class B
			MFS Institutional International Equity Fund

Participants can elect to invest up to 25% of their contributions in the Hasbro Stock Fund, which is a unitized stock fund that invests in the stock of Hasbro, Inc. and other short-term investments designed to allow participants to buy and sell without the usual trade settlement period for individual stock transactions. Ownership is measured in units of the fund instead of shares of common stock. Participants cannot elect to reallocate their investment funds if that would result in greater than 25% of their account invested in the Hasbro Stock Fund. The fair value of the cash and investments of the Hasbro Stock Fund was $16,679,744 and $12,242,808 as of December 31, 2025 and 2024, respectively.

The Plan invests in fully benefit-responsive synthetic guaranteed investment contracts ("synthetic GICs") as part of offering the JP Morgan Stable Asset Fund investment option to participants. Participant contributions to this fund are primarily used to purchase units of commingled funds, which are invested in a high-quality fixed income portfolio. The synthetic GICs are comprised of wrapper contracts and underlying investments.

The Company enters into wrapper contracts with insurance companies which provide a guarantee with respect to the availability of funds to make distributions from this investment option. These contracts are carried at contract value in the participants' accounts. The issuer of the wrapper contracts is contractually obligated to repay the principal, as well as a specified interest rate that is set on a quarterly basis. There are no reserves against contract value for credit risk of the contract issuer or otherwise.

The JP Morgan Stable Asset Fund and the wrapper contracts purchased are designed to pay all participants at contract value. However, certain events limit the ability of the Plan to transact at contract value. These events include but are not limited to premature termination of the contracts by the Plan or Plan termination. The Plan Sponsor has not expressed any intention to take either of these actions.

The synthetic guaranteed investment contracts in the JP Morgan Stable Asset Fund as of December 31, 2025 and 2024 are summarized below:


	Major Credit Rating	Investments at Contract Value
December 31, 2025
Transamerica Premier Life Insurance Company	A+	$	10,735,080
Pacific Life Insurance Company	A+	10,747,737
Voya Insurance and Annuity Co.	A+	10,753,431
Metropolitan Life Insurance Company	A+	10,753,100
All Contracts		$	42,989,348

December 31, 2024
Transamerica Premier Life Insurance Company	A+	$	11,621,469
Pacific Life Insurance Company	AA-	11,632,705
Voya Insurance and Annuity Co.	A+	11,637,702
Metropolitan Life Insurance Company	AA-	11,636,845
All Contracts		$	46,528,721

Participant accounts in the JP Morgan Stable Asset Fund are credited with interest at a fixed rate that is based on an agreed-upon formula as defined in the contracts. The rate typically resets quarterly; however, the rate may reset more frequently under certain circumstances. The primary variables which could impact the future crediting rates include (1) the amount and timing of participant contributions, (2) transfers and withdrawals into/out of the contract, (3) the current yield of the assets underlying the contract, (4) the duration of the assets underlying the contract and (5) the existing difference between fair value of the securities and the contract value of the assets within the insurance contract. The crediting rate of security-backed contracts will track current market yields on a trailing basis. The rate reset allows the contract value to converge with the fair value of the underlying portfolio over time, assuming the portfolio continues to earn the current yield for a period of time equal to the current portfolio duration.

Statements of Changes in Net Assets Available for Plan Benefits - EBP 002 - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Investment income:
Net appreciation in fair value of investments	$ 167,728,183	$ 149,474,849
Dividends and interest	6,449,736	6,222,519
Total investment income	174,177,919	155,697,368
Interest income on notes receivable from participants	402,462	354,674
Contributions:
Participant contributions	32,682,135	30,961,189
Employer contributions	29,404,455	24,253,465
Participant rollovers	8,776,555	7,494,458
Total contributions	70,863,145	62,709,112
Total additions	245,443,526	218,761,154
Deductions
Termination, withdrawal, and retirement payments directly to participants	130,851,428	174,173,403
Administrative expenses	235,952	213,934
Total deductions	131,087,380	174,387,337
Net increase before Plan transfer	114,356,146	44,373,817
Net transfer of assets into Plan (Note 9)	0	1,919,898
Net increase	114,356,146	46,293,715
Net assets available for plan benefits:
Beginning of year	994,352,018	948,058,303
End of year	$ 1,108,708,164	$ 994,352,018

Reconciliation of Financial Statements to Form 5500- Reconciliation of Net Assets Available for Benefit (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
EBP, Before Plan Transfer [Abstract]
Net increase in net assets available for plan benefits per financial statements	$ 114,356,146	$ 44,373,817
Prior year accrued administrative expenses	(107,500)	(99,355)
Prior year adjustment from contract value to fair value for fully-benefit responsive contracts	2,982,545	3,255,802
Net increase in net assets available for plan benefits per Form 5500	112,065,463	48,190,035
EBP 004
EBP, Reconciliation of Financial Statement to Form 5500 [Line Items]
Net assets available for plan benefits	1,108,708,164	994,352,018
Employer contributions receivable	(10,272,001)	(6,460,527)
Accrued administrative expenses	113,153	107,500
Adjustment from contract value to fair value for fully-benefit responsive investment contracts	(1,467,407)	(2,982,545)
Net assets available for plan benefits per Form 5500	1,097,081,909	985,016,446
EBP, Before Plan Transfer [Abstract]
Prior year employer contributions receivable	6,460,527	9,995,343
Current year employer contributions receivable	(10,272,001)	(6,460,527)
Current year accrued administrative expenses	113,153	107,500
Current year adjustment from contract value to fair value for fully-benefit responsive contracts	$ (1,467,407)	$ (2,982,545)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

EBP 004

EBP, Investment, Fair Value and NAV [Line Items]

EBP, Investment, Fair Value and NAV

The Plan had the following assets measured at fair value in its Statements of Net Assets Available for Plan Benefits:


	Fair Value Measurements Using:
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2025
Cash and Cash Equivalents	$	2,388,785	$	2,388,785	$	—	$	—
Hasbro, Inc. Common Stock	15,889,550		15,889,550		—		—
Mutual Funds	55,147,288		55,147,288		—		—
Commingled Funds	977,140,320		977,140,320		—		—
Total Cash, cash equivalents and Investments	$	1,050,565,943	$	1,050,565,943	$	—	$	—

December 31, 2024
Cash and Cash Equivalents	$	2,228,550	$	2,228,550	$	—	$	—
Hasbro, Inc. Common Stock	11,572,587		11,572,587		—		—
Mutual Funds	56,228,824		56,228,824		—		—
Commingled Funds	865,938,063		865,938,063		—		—
Total Cash, cash equivalents and Investments	$	935,968,024	$	935,968,024	$	—	$	—

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Tabular disclosure of fair value of investment held by employee stock purchase, saving, or similar plan (employee benefit plan (EBP)), including, but not limited to, fair value measured at net asset value per share as practical expedient (NAV).

+ References

+ Details

Schedule H, Line 4i – Schedule of Assets (Held At End of Year) (Details) - EBP 004	12 Months Ended
	Dec. 31, 2025 USD ($) loan shares
EBP, Schedule of Asset Held for Investment [Line Items]
Total Cash, cash equivalents and Investments	$ 1,092,087,886
Participant loan, current value	5,327,681
EBP, Asset Held for Investment	$ 1,097,415,567
Notes Receivable from Participants
EBP, Schedule of Asset Held for Investment [Line Items]
Number of loans \| loan	341
Minimum
EBP, Schedule of Asset Held for Investment [Line Items]
Investment rate	3.25%
Maximum
EBP, Schedule of Asset Held for Investment [Line Items]
Investment rate	8.50%
Investment, Identifier [Axis]: Cash and Cash Equivalents\|Fidelity STIF
EBP, Schedule of Asset Held for Investment [Line Items]
Current Value	$ 2,388,785
Investment, Identifier [Axis]: Commingled Funds \| BTC ACWI Ex-US IMI Index Fund
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	533,619
Current Value	$ 15,130,501
Investment, Identifier [Axis]: Commingled Funds \| BTC Equity Index Fund
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	2,108,669
Current Value	$ 132,185,729
Investment, Identifier [Axis]: Commingled Funds \| BTC Lifepath 2030
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	1,852,596
Current Value	$ 52,715,793
Investment, Identifier [Axis]: Commingled Funds \| BTC Lifepath 2035
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	2,222,616
Current Value	$ 71,190,376
Investment, Identifier [Axis]: Commingled Funds \| BTC Lifepath 2040
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	2,198,060
Current Value	$ 78,252,270
Investment, Identifier [Axis]: Commingled Funds \| BTC Lifepath 2045
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	2,142,153
Current Value	$ 83,394,446
Investment, Identifier [Axis]: Commingled Funds \| BTC Lifepath 2050
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	2,334,375
Current Value	$ 97,087,137
Investment, Identifier [Axis]: Commingled Funds \| BTC Lifepath 2055
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	1,575,211
Current Value	$ 67,685,240
Investment, Identifier [Axis]: Commingled Funds \| BTC Lifepath 2060
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	508,559
Current Value	$ 14,864,672
Investment, Identifier [Axis]: Commingled Funds \| BTC Lifepath 2065
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	370,123
Current Value	$ 7,392,656
Investment, Identifier [Axis]: Commingled Funds \| BTC Lifepath Retirement
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	1,034,185
Current Value	$ 22,171,476
Investment, Identifier [Axis]: Commingled Funds \| BTC Russell 2500 Index Fund
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	1,296,730
Current Value	$ 50,413,615
Investment, Identifier [Axis]: Commingled Funds \| BTC US Debt Index NL Fund
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	318,832
Current Value	$ 4,062,241
Investment, Identifier [Axis]: Commingled Funds \| Boston Trust SMID Cap Fund
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	190,777
Current Value	$ 2,640,360
Investment, Identifier [Axis]: Commingled Funds \| Eaton Vance Collective Investment Trust High Yield Fund
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	1,227,836
Current Value	$ 13,015,059
Investment, Identifier [Axis]: Commingled Funds \| Fidelity Growth Company Pool
EBP, Schedule of Asset Held for Investment [Line Items]
Current Value	$ 215,197,810
Investment, Identifier [Axis]: Commingled Funds \| LS Core Plus Trust Fund Class B
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	1,230,937
Current Value	$ 16,531,468
Investment, Identifier [Axis]: Commingled Funds \| MFS Institutional International Equity Fund
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	1,455,917
Current Value	$ 33,209,471
Investment, Identifier [Axis]: Common Stock\| Hasbro Stock Fund
EBP, Schedule of Asset Held for Investment [Line Items]
Current Value	$ 15,889,550
Investment, Identifier [Axis]: Mutual Fund \| Dodge & Cox Stock Fund
EBP, Schedule of Asset Held for Investment [Line Items]
Number of shares invested (in shares) \| shares	3,324,128
Current Value	$ 55,147,288
Investment, Identifier [Axis]: Synthetic Guaranteed Investment Contracts (JP Morgan Stable Asset Fund) \| Pacific Life Insurance Company \| Synthetic Guaranteed Investment Contract
EBP, Schedule of Asset Held for Investment [Line Items]
Current Value	10,380,906
Investment, Identifier [Axis]: Synthetic Guaranteed Investment Contracts (JP Morgan Stable Asset Fund) \| Transamerica Premier Life Insurance Company \| Synthetic Guaranteed Investment Contract
EBP, Schedule of Asset Held for Investment [Line Items]
Current Value	10,366,226
Investment, Identifier [Axis]: Synthetic Guaranteed Investment Contracts (JP Morgan Stable Asset Fund) \| Voya Retirement Insurance and Annuity Company \| Synthetic Guaranteed Investment Contract
EBP, Schedule of Asset Held for Investment [Line Items]
Current Value	10,387,050
Investment, Identifier [Axis]: Synthetic Guaranteed Investment Contracts (JP Morgan Stable Asset Fund)\| Metropolitan Life Insurance Company \| Synthetic Guaranteed Investment Contract
EBP, Schedule of Asset Held for Investment [Line Items]
Current Value	$ 10,387,761

Summary of Accounting Policies	12 Months Ended
Summary of Accounting Policies	Dec. 31, 2025
EBP 004
EBP, Accounting Policy [Line Items]
Summary of Accounting Policies	Summary of Accounting Policies (a) Basis of Accounting The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) requires the Plan Administrator to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates. The accompanying financial statements are presented on the accrual basis of accounting. Benefits payable at year end are not accrued for as they are considered to be a component of the net assets available for plan benefits. (b) Investments Investments are stated at fair value with the exception of the Plan’s fully benefit-responsive investment contracts which are stated at contract value. See Note 8 for a discussion of the methods used to determine the fair value of investments held by the Plan. Security transactions received prior to 4:00 pm Eastern time by the Trustee are recognized on that business day. Transactions received after 4:00 pm Eastern time are valued as of the next business day. Interest income is recorded on the accrual basis and dividend income is recorded on the ex-dividend date. Net appreciation in the fair value of investments includes both realized and unrealized gains and losses. (c) Notes Receivable from Participants Notes receivable from participants are recorded at the outstanding principal balance plus accrued interest. (d) Contributions Contributions from employees are recorded by the Plan when deducted from employees' wages. The Company's matching contributions are accrued at the time the employee's contributions are deducted. For the years ended December 31, 2025 and 2024, employer and employee contributions for the last pay period of the year were paid to the Plan prior to the Plan's year end. The Company’s discretionary annual contribution for 2025 and 2024 was paid to the Plan subsequent to the end of the Plan year and was recorded as employer contributions receivable on the Statements of Net Assets Available for Plan Benefits at December 31, 2025 and December 31, 2024. (e) Payments of Benefits Benefits are recorded when paid. (f) Administrative Expenses The Plan bears all costs and general expenses incurred with regard to investment consulting, audit, legal and communication fees, other professional fees, independent fund managers and the purchase and sale of investments. These expenses are paid by the Plan participants equally. Other costs of administration are paid for by the Plan Administrator.

Cover	12 Months Ended
Cover	Dec. 31, 2025
Document Information [Line Items]
Document Type	11-K
Entity Registrant Name	HASBRO, INC.
Amendment Flag	false
Entity Central Index Key	0000046080
EBP 004
Document Information [Line Items]
Document Type	11-K
Entity Registrant Name	HASBRO, INC.
Amendment Flag	false
Entity Central Index Key	0000046080

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2025
EBP 004
EBP, Subsequent Event [Line Items]
Subsequent Events	Subsequent Events Subsequent events have been evaluated through June 23, 2026, the date the financial statements were issued.

Plan Merger	12 Months Ended
Plan Merger	Dec. 31, 2025
EBP 004
EBP, Plan Merger [Line Items]
Plan Merger	Plan Merger On December 26, 2023, the Entertainment One 401(k) was terminated with the sale of the Plan Sponsor’s eOne film and television business. As part of the termination, the Entertainment One 401(k) plan was converted into the Plan. In March 2024, the Entertainment One 401(k) Plan transferred its assets into the Plan. Total assets transferred from the Entertainment One 401(k) Plan were $1,919,898. There were no transfers into the plan in 2025.

Investment Information - Investment Contracts (Details) - EBP 004 - USD ($)	Dec. 31, 2025	Dec. 31, 2024
EBP, Master Trust [Line Items]
Investments, at contract value	$ 42,989,348	$ 46,528,721
Investment, Identifier [Axis]: Metropolitan Life Insurance Company
EBP, Master Trust [Line Items]
Investments, at contract value	10,753,100	11,636,845
Investment, Identifier [Axis]: Pacific Life Insurance Company
EBP, Master Trust [Line Items]
Investments, at contract value	10,747,737	11,632,705
Investment, Identifier [Axis]: Transamerica Premier Life Insurance Company
EBP, Master Trust [Line Items]
Investments, at contract value	10,735,080	11,621,469
Investment, Identifier [Axis]: Voya Insurance and Annuity Co.
EBP, Master Trust [Line Items]
Investments, at contract value	$ 10,753,431	$ 11,637,702

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2025
EBP 004
EBP, Related Party and Party-in-Interest Transactions [Line Items]
Related Party Transactions	Related Party Transactions Certain Plan investments are shares of mutual funds managed by Fidelity Management and Research Company, an affiliate of the Trustee and Recordkeeper, and, therefore, qualify as party-in-interest transactions. The Plan had 2,426,404 and 2,914,963 units of the Fidelity Growth Company Pool commingled fund valued at $215,197,810 and $206,204,464, respectively, as of December 31, 2025 and 2024. The Plan also had cash and cash equivalents in the Fidelity Short-term Investment Fund of $2,388,785 and $2,228,550, respectively, as of December 31, 2025 and 2024. Additionally, the Plan holds investments in shares of Hasbro, Inc. common stock, the Plan Sponsor. The Plan had 193,775 and 206,986 shares of Hasbro, Inc. common stock valued at $15,889,550 and $11,572,587, respectively, as of December 31, 2025 and 2024. These transactions qualify as exempt party-in-interest transactions.