Dan A. Joy - 03 Mar 2023 Form 4 Insider Report for DAVEY TREE EXPERT CO

Role: EVP & Assistant to President
Signature: /s/Dan A. Joy/Christopher J. Bast, By Power of Attorney
Issuer symbol: N/A
Transactions as of: 03 Mar 2023
Net transactions value: +$82,140
Form type: 4
Filing time: 06 Mar 2023, 13:38:58 UTC
Previous filing: 18 Jan 2023
Next filing: 21 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	Common Stock	Award	$82,140	+4,440	+4.2%	$18.50^*	109,878	03 Mar 2023	Direct	F1
holding	Common Stock						8,000	03 Mar 2023	By Sons
holding	Common Stock						183,046	03 Mar 2023	By 401(k) Plan	F2

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

Explanation of Responses:

Id	Content
F1	Upon the achievement of certain performance criteria, performance restricted stock units (PRSUs) were granted pursuant to the Company's performance restricted stock unit program, are payable in common shares, will be fully vested on the earlier of (a) the third anniversary of the grant date (the transaction date herein), (b) retirement (provided that the participant has attained the age of 55 years and has had at least five years of service with the Company), (c) total or permanent disability or death, or (d) certain events of termination, and will be paid no later than March 15 following the year in which the participant retires.
F2	This total reflects routine accumulation of 183,045.9979 common shares acquired through the Company's 401(K) benefit plan as of March 3, 2023, based on internal records.

Content

Upon the achievement of certain performance criteria, performance restricted stock units (PRSUs) were granted pursuant to the Company's performance restricted stock unit program, are payable in common shares, will be fully vested on the earlier of (a) the third anniversary of the grant date (the transaction date herein), (b) retirement (provided that the participant has attained the age of 55 years and has had at least five years of service with the Company), (c) total or permanent disability or death, or (d) certain events of termination, and will be paid no later than March 15 following the year in which the participant retires.

This total reflects routine accumulation of 183,045.9979 common shares acquired through the Company's 401(K) benefit plan as of March 3, 2023, based on internal records.