Patrick M. Covey - 31 Mar 2022 Form 4 Insider Report for DAVEY TREE EXPERT CO

Role
Chairman, President & CEO, Director
Signature
/s/Patrick M. Covey/Christopher J. Bast, by Power of Attorney
Issuer symbol
N/A
Transactions as of
31 Mar 2022
Net transactions value
+$65,991
Form type
4
Filing time
01 Apr 2022, 13:20:01 UTC
Previous filing
07 Mar 2022
Next filing
15 Jul 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction Common Stock Options Exercise $138,040 +28,000 +7.4% $4.93 404,433 31 Mar 2022 Direct F1
transaction Common Stock Disposed to Issuer $138,049 -7,627 -1.9% $18.10 396,806 31 Mar 2022 Direct F1
transaction Common Stock Options Exercise $66,000 +10,000 +2.5% $6.60 406,806 31 Mar 2022 Direct
holding Common Stock 500 31 Mar 2022 By son
holding Common Stock 500 31 Mar 2022 By son
holding Common Stock 26,315 31 Mar 2022 By 401(k) Plan 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 Stock Appreciation Rights Options Exercise $0 -28,000 -100% $0.000000* 0 31 Mar 2022 Common Stock 28,000 $4.93 Direct F1
transaction Non-Qualified Stock Option (Right to Buy) Options Exercise $0 -10,000 -50% $0.000000 10,000 31 Mar 2022 Common Stock 10,000 $6.60 Direct F3
* 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, 2022, which was the tenth anniversary of the grant date. March 31, 2022 is the earliest date on which the Company was able to complete SARs calculations, based on the availability of its stock price valuation.
F2 This total reflects routine accumulation of 26,314.8543 common shares acquired through the Company's 401(K) benefit plan as of March 31, 2022, based on internal records.
F3 These options become exercisable in 20% installments on each anniversary of the grant date beginning June 30, 2015.