Thea R. Sears - Jun 28, 2023 Form 4 Insider Report for DAVEY TREE EXPERT CO (NONE)

Role: Vice President & Controller
Signature: /s/Thea R. Sears/Christopher J. Bast, by Power of Attorney
Stock symbol: NONE
Transactions as of: Jun 28, 2023
Transactions value $: $8,180
Form type: 4
Date filed: 6/28/2023, 05:13 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	$8.18K	+1K	+0.45%	$8.18^*	224K	Jun 28, 2023	Direct
holding	NONE	Common Stock						20.3K	Jun 28, 2023	By 401(k) Plan	F1

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	Nonqualified Stock Option (Right to Buy)	Options Exercise	$0	-1K	-50%	$0.00	1K	Jun 28, 2023	Common Stock	1K	$8.18	Direct	F2

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

Explanation of Responses:

Id	Content
F1	This total reflects routine accumulation of 20,299.8655 common shares acquired through the Company's 401(K) benefit plan as of June 28, 2023, based on internal records.
F2	These options become exercisable in 20% installments on each anniversary of the grant date beginning June 28, 2017.