Karl J. Warnke - 26 Apr 2022 Form 4 Insider Report for DAVEY TREE EXPERT CO

Role: Director
Signature: /s/Karl J. Warnke/Christopher J. Bast, by Power of Attorney
Issuer symbol: N/A
Transactions as of: 26 Apr 2022
Net transactions value: -$600,015
Form type: 4
Filing time: 26 Apr 2022, 12:07:52 UTC
Previous filing: 22 Oct 2021
Next filing: 20 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction		Common Stock	Sale	$600,015	-33,150	-2.5%	$18.10	1,291,998	26 Apr 2022	By Karl J. Warnke Trust	F1
holding		Common Stock						579,860	26 Apr 2022	By Barbara R. Warnke Trust	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction		Phantom Stock	Award	$0	+30	+0.19%	$0.000000	15,455	26 Apr 2022	Common Stock	30		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	All share totals and prices reflect a 2-for-1 stock split effective October 1,2021.
F2	Each unit of phantom stock is the economic equivalent of one share of common stock. These units of phantom stock become payable, in cash, upon the reporting person's termination of service as a director.