Patrick M. Covey - 31 Mar 2023 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 2023
Net transactions value
+$66,006
Form type
4
Filing time
03 Apr 2023, 15:28:47 UTC
Previous filing
06 Mar 2023
Next filing
13 Jul 2023
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 $285,128 +49,160 +11% $5.80 497,228 31 Mar 2023 Direct F1
transaction Common Stock Disposed to Issuer $285,122 -15,412 -3.1% $18.50 481,816 31 Mar 2023 Direct F1
transaction Common Stock Options Exercise $66,000 +10,000 +2.1% $6.60 491,816 31 Mar 2023 Direct
holding Common Stock 500 31 Mar 2023 By son
holding Common Stock 500 31 Mar 2023 By son
holding Common Stock 27,072 31 Mar 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 Stock Appreciation Rights (2013) Options Exercise $0 -49,160 -100% $0.000000* 0 31 Mar 2023 Common Stock 49,160 $5.80 Direct F1
transaction Non-Qualified Stock Option (Right to Buy) Options Exercise $0 -10,000 -100% $0.000000* 0 31 Mar 2023 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, 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.