Patrick M. Covey - Aug 1, 2022 Form 4 Insider Report for DAVEY TREE EXPERT CO (NONE)

Role: Chairman, President & CEO, Director
Signature: /s/Patrick M. Covey/Christopher J. Bast, by Power of Attorney
Stock symbol: NONE
Transactions as of: Aug 1, 2022
Transactions value $: $362,000
Form type: 4
Date filed: 8/2/2022, 04:02 PM
Previous filing: Jul 15, 2022
Next filing: Jan 18, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NONE	Common Stock	Other	$362K	+20K	+4.91%	$18.10	427K	Aug 1, 2022	Direct	F1
holding	NONE	Common Stock						500	Aug 1, 2022	By son
holding	NONE	Common Stock						500	Aug 1, 2022	By son
holding	NONE	Common Stock						27K	Aug 1, 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	NONE	Stock Subscription Rights (Right to Buy)	Other	$0	+6.67K		$0.00	6.67K	Aug 1, 2022	Common Stock	6.67K	$18.10	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The reported stock subscription rights to purchase shares of the Company's common stock were acquired in the Company's stock subscription offering to employees and non-employee directors in accordance with the provisions of The Davey Tree Expert Company 2014 Omnibus Stock Plan (the "Plan"). All participants in the offering purchasing in excess of $5,000 of common stock were granted a "right" to purchase one additional share of common stock, at a price of $18.10 per share, for every three shares of common stock purchased under the Plan. Each "right" may be exercised at the rate of 1/7 per year beginning on August 1, 2022 and will expire on July 31, 2029.
F2	This total reflects routine accumulation of 27,007.1752 common shares acquired through the Company's 401(K) benefit plan as of August 1, 2022, based on internal records.

Content

The reported stock subscription rights to purchase shares of the Company's common stock were acquired in the Company's stock subscription offering to employees and non-employee directors in accordance with the provisions of The Davey Tree Expert Company 2014 Omnibus Stock Plan (the "Plan"). All participants in the offering purchasing in excess of $5,000 of common stock were granted a "right" to purchase one additional share of common stock, at a price of $18.10 per share, for every three shares of common stock purchased under the Plan. Each "right" may be exercised at the rate of 1/7 per year beginning on August 1, 2022 and will expire on July 31, 2029.

This total reflects routine accumulation of 27,007.1752 common shares acquired through the Company's 401(K) benefit plan as of August 1, 2022, based on internal records.