Patrick M. Covey - Mar 31, 2023 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
Mar 31, 2023
Transactions value $
$66,006
Form type
4
Date filed
4/3/2023, 03:28 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 $285K +49.2K +10.97% $5.80 497K Mar 31, 2023 Direct F1
transaction NONE Common Stock Disposed to Issuer -$285K -15.4K -3.1% $18.50 482K Mar 31, 2023 Direct F1
transaction NONE Common Stock Options Exercise $66K +10K +2.08% $6.60 492K Mar 31, 2023 Direct
holding NONE Common Stock 500 Mar 31, 2023 By son
holding NONE Common Stock 500 Mar 31, 2023 By son
holding NONE Common Stock 27.1K Mar 31, 2023 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 Appreciation Rights (2013) Options Exercise $0 -49.2K -100% $0.00* 0 Mar 31, 2023 Common Stock 49.2K $5.80 Direct F1
transaction NONE Non-Qualified Stock Option (Right to Buy) Options Exercise $0 -10K -100% $0.00* 0 Mar 31, 2023 Common Stock 10K $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, 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 This total reflects routine accumulation of 27,072.0680 common shares acquired through the Company's 401(K) benefit plan as of March 31, 2023, based on internal records.
F3 These options become exercisable in 20% installments on each anniversary of the grant date beginning June 30, 2015.