Douglas K. Hall - May 14, 2021 Form 4/A - Amendment Insider Report for DAVEY TREE EXPERT CO (NONE)

Role: Director
Signature: /s/Douglas K. Hall/Christopher J. Bast, By Power of Attorney
Stock symbol: NONE
Transactions as of: May 14, 2021
Transactions value $: $55,200
Form type: 4/A - Amendment
Date filed: 5/17/2021, 08:52 AM
Date Of Original Report: May 14, 2021
Next filing: May 20, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NONE	Common Stock	Options Exercise	$55.2K	+6K	+5.68%	$9.20	112K	May 14, 2021	Direct	F1
transaction	NONE	Common Stock	Options Exercise	$0	-1.84K	-1.65%	$0.00	110K	May 14, 2021	Direct	F2

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	NONE	Stock Appreciation Rights (2011)	Options Exercise	$0	-6K	-100%	$0.00^*	0	May 14, 2021	Common Stock	6K	$9.20	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Exercise of SARs.
F2	Deemed disposition back to the company upon exercise of Stock Settled Appreciation Rights (SARs).
F3	These Stock Settled Appreciation Rights (SARs) were granted om May 17, 2011 and became exercisable in five equal annual installments beginning on the first anniversary of the grant date.