Joseph R. Paul - Mar 31, 2023 Form 4 Insider Report for DAVEY TREE EXPERT CO (NONE)

Role
EVP & CFO
Signature
/s/Joseph R. Paul, Christopher J. Bast, by Power of Attorney
Stock symbol
NONE
Transactions as of
Mar 31, 2023
Transactions value $
-$186,423
Form type
4
Date filed
4/3/2023, 03:33 PM
Previous filing
Mar 6, 2023
Next filing
Jul 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NONE Common Stock Options Exercise $240K +41.3K +13.58% $5.80 346K Mar 31, 2023 Direct F1
transaction NONE Common Stock Disposed to Issuer -$240K -13K -3.75% $18.50 333K Mar 31, 2023 Direct F1
transaction NONE Common Stock Options Exercise -$237K -12.8K -3.85% $18.50 320K Mar 31, 2023 Direct F2
transaction NONE Common Stock Options Exercise $10.6K +1.2K +0.38% $8.80 321K Mar 31, 2023 Direct
transaction NONE Common Stock Options Exercise $11.5K +1.2K +0.37% $9.55 322K Mar 31, 2023 Direct
transaction NONE Common Stock Options Exercise $12.7K +1.2K +0.37% $10.55 323K Mar 31, 2023 Direct
transaction NONE Common Stock Options Exercise $15.6K +1.29K +0.4% $12.10 325K Mar 31, 2023 Direct
holding NONE Common Stock 21.1K Mar 31, 2023 By 401(k) Plan F3

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 (2013) Options Exercise $0 -41.3K -100% $0.00* 0 Mar 31, 2023 Common Stock 41.3K $5.80 Direct F1
transaction NONE Non-Qualified Stock Option (Right to Buy) Options Exercise $0 -1.2K -100% $0.00* 0 Mar 31, 2023 Common Stock 1.2K $8.80 Direct F4
transaction NONE Nonqualified Stock Option (Right to Buy) Options Exercise $0 -1.2K -50% $0.00 1.2K Mar 31, 2023 Common Stock 1.2K $9.55 Direct F5
transaction NONE Nonqualified Stock Option (Right to Buy) Options Exercise $0 -1.2K -50% $0.00 1.2K Mar 31, 2023 Common Stock 1.2K $10.55 Direct F6
transaction NONE Non-Qualified Stock Option (Right to Buy) Options Exercise $0 -1.29K -33.33% $0.00 2.57K Mar 31, 2023 Common Stock 1.29K $12.10 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to their terms, Stock Appreciation Rights (SARs) were automatically exercised on March 7, 2023, which was the tenth anniversary of the grant date. March 31, 2023 is the earliest date on which the Company was able to complete SARs calculations, based on the availability of its stock price valuation.
F2 Payment of taxes in connection with SARs pay-out.
F3 This total reflects routine accumulation of 21,100.2599 common shares acquired through the Company's 401(K) benefit plan as of March 31, 2023, based on internal records.
F4 These options become exercisable in 20% installments on each anniversary of the grant date beginning June 23, 2018.
F5 These options become exercisable in 20% installments on each anniversary of the grant date beginning June 28, 2019.
F6 These options become exercisable in 20% installments on each anniversary of the grant date beginning March 7, 2020.
F7 These options become exercisable in 20% installments on each anniversary of the grant date beginning March 5, 2021.