Thea R. Sears - Oct 25, 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: Oct 25, 2023
Transactions value $: $5,828
Form type: 4
Date filed: 10/26/2023, 10:21 AM
Previous filing: Jul 13, 2023
Next filing: Jan 19, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NONE	Common Stock	Options Exercise	$4.09K	+500	+0.22%	$8.18^*	225K	Oct 25, 2023	Direct
transaction	NONE	Common Stock	Options Exercise	$1.74K	+96	+0.04%	$18.10^*	225K	Oct 25, 2023	Direct
holding	NONE	Common Stock						21K	Oct 25, 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	-500	-50%	$0.00	500	Oct 25, 2023	Common Stock	500	$8.18	Direct	F2
transaction	NONE	Stock Subscription Rights (Right to Buy)	Options Exercise	$0	-96	-28.83%	$0.00	237	Oct 25, 2023	Common Stock	96	$18.10	Direct	F3

* 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 20,992.5754 common shares acquired through the Company's 401(K) benefit plan as of October 25, 2023, based on internal records.
F2	These options become exercisable in 20% installments on each anniversary of the grant date beginning June 28, 2017.
F3	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.