孩之宝 2025年度报告

FORM 11-K (Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the fiscal year ended December31, 2025 OR☐TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period from _______ to _______ Commission file number 1-6682 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: HASBRO, INC. RETIREMENT SAVINGS PLAN B. Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office: HASBRO, INC.1027 Newport AvenuePawtucket, RI 02862-1059 HASBRO, INC. RETIREMENT SAVINGS PLANFinancial Statements and ExhibitsYears Ended December31, 2025 and 2024 II.Exhibits 23.1Consent of Independent Registered PublicAccounting Firm Other schedules are omitted as the required information is not applicable. Report of Independent Registered Public Accounting Firm To the Plan Participants and Plan AdministratorHasbro, Inc. Retirement Savings Plan: Opinion on the Financial Statements We have audited the accompanying statements of net assets available for plan benefits of Hasbro, Inc. RetirementSavings Plan (the Plan) as of December 31, 2025 and 2024, the related statements of changes in net assets available forplan benefits for the years ended December 31, 2025 and 2024, and the related notes (collectively, the financialstatements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for planbenefits of the Plan as of December 31, 2025 and 2024, and the changes in net assets available for plan benefits for theyears ended December 31, 2025 and 2024, in conformity with U.S. generally accepted accounting principles. Basis for Opinion These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion onthese financial statements based on our audits. We are a public accounting firm registered with the Public CompanyAccounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan inaccordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and ExchangeCommission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan andperform the audit to obtain reasonable assurance about whether the financial statements are free of materialmisstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of materialmisstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to thoserisks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in thefinancial statements. Our audits also included evaluating the accounting principles used and significant estimates made bymanagement, as well as evaluating the overall presentation of the financial statements. We believe that our audits providea reasonable basis for our opinion. Accompanying Supplemental Information The Schedule H, line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2025 has been subjected to auditprocedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is theresponsibility of the Plan’s management. Our audit procedures included determining whether the supplemental informationreconciles to the financial statements or the underlying accounting and other records, as applicable, and performingprocedures to test the completeness and accuracy of the information presented in the supplemental information. Informing our opinion on the supplemental information, we evaluated whether the supplemental information, including itsform and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting andDisclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information isfairly stated, in all material respects, in relation to the financial statements as a whole./s/ KPMG LLP We have served as the Plan’s auditor since1986. Providence, Rhode IslandJune 23, 2026 HASBRO, INC. RETIREMENT SAVINGS PLANStatements of Net Assets Available for Plan BenefitsDecember31, 2025 and 2024 HASBRO, INC. RETIREMENT SAVINGS PLANStatements of Changes in Net Assets Available for Plan BenefitsYears Ended December31, 2025 and 2024 HASBRO, INC. RETIREMENT SAVINGS PLANNotes to Financial StatementsDecember31, 2025 and 2024 (1)Description of Plan The following brief description of the Hasbro, Inc. Retirement Savings Plan ("the Plan") is provided for general informationpurposes 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