Christopher J. Bast - 29 Aug 2023 Form 4 Insider Report for DAVEY TREE EXPERT CO

Role: Sr VP, Treasurer & Ops Support
Signature: /s/Christopher J. Bast/Joseph R. Paul, by Power of Attorney
Issuer symbol: N/A
Transactions as of: 29 Aug 2023
Net transactions value: +$28,650
Form type: 4
Filing time: 29 Aug 2023, 14:08:25 UTC
Previous filing: 13 Jul 2023
Next filing: 22 Jan 2024
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	$28,650	+3,000	+3.9%	$9.55^*	79,588	29 Aug 2023	Direct	F1
holding		Common Stock						10,441	29 Aug 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		Non-Qualified Stock Option (Right to Buy)	Options Exercise	$0	-3,000	-100%	$0.000000^*	0	29 Aug 2023	Common Stock	3,000	$9.55	Direct

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

Explanation of Responses:

Id	Content
F1	These options become exercisable in 20% installments on each anniversary of the grant date beginning June 28, 2019.
F2	This total reflects routine accumulation of 10,440.9483 common shares acquired through the Company's 401(K) benefit plan as of August 29, 2023, based on internal records.