Christopher J. Bast - Mar 3, 2023 Form 4 Insider Report for DAVEY TREE EXPERT CO (NONE)

Role: Sr VP, Treasurer & Ops Support
Signature: /s/Christopher J. Bast/Joseph R. Paul, by Power of Attorney
Stock symbol: NONE
Transactions as of: Mar 3, 2023
Transactions value $: $69,560
Form type: 4
Date filed: 3/6/2023, 02:18 PM
Previous filing: Jan 18, 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	Award	$69.6K	+3.76K	+5.19%	$18.50^*	76.2K	Mar 3, 2023	Direct	F1
holding	NONE	Common Stock						9.62K	Mar 3, 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 9,619.2698 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 9,619.2698 common shares acquired through the Company's 401(K) benefit plan as of March 3, 2023, based on internal records.