Karl J. Warnke - 02 May 2024 Form 4 Insider Report for DAVEY TREE EXPERT CO

Role: Director
Signature: /s/Karl J. Warnke/Christopher J. Bast, Power of Attorney
Issuer symbol: N/A
Transactions as of: 02 May 2024
Net transactions value: -$1,199,999
Form type: 4
Filing time: 03 May 2024, 10:34:10 UTC
Previous filing: 01 Nov 2023
Next filing: 21 Oct 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction		Common Stock	Sale	$1,199,999	-54,054	-4.4%	$22.20^*	1,182,597	02 May 2024	By Karl J. Warnke Trust
holding		Common Stock						579,860	02 May 2024	By Barbara R. Warnke Trust

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	+35	+0.23%	$0.000000	15,589	02 May 2024	Phantom, Stock	35		Direct	F1

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

Explanation of Responses:

Id	Content
F1	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.