Erika J. Schoenberger - 24 Apr 2023 Form 4 Insider Report for DAVEY TREE EXPERT CO

Role: VP, General Counsel, Secretary
Signature: /s Erika J. Schoenberger/Christopher J. Bast, by Power of Attorney
Issuer symbol: N/A
Transactions as of: 24 Apr 2023
Net transactions value: +$8,176
Form type: 4
Filing time: 25 Apr 2023, 12:27:02 UTC
Previous filing: 06 Mar 2023
Next filing: 13 Jul 2023
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	$8,176	+775	+1.6%	$10.55^*	49,601	24 Apr 2023	Direct
holding		Common Stock						2,907	24 Apr 2023	By 401K 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		Nonqualified Stock Option (Right to Buy)	Options Exercise	$0	-775	-13%	$0.000000	5,225	24 Apr 2023	Common Stock	775	$10.55	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 2,906.6389 common shares acquired through the Company's 401(K) benefit plan as of April 25, 2023, based on internal records.
F2	These options become exercisable in 20% installments on each anniversary of the grant date beginning March 7, 2020.