Donald C. Brown - Jun 27, 2024 Form 4 Insider Report for DAVEY TREE EXPERT CO (NONE)

Role: Director
Signature: /s/Donald C. Brown, Christopher J. Bast, by Power of Attorney
Stock symbol: NONE
Transactions as of: Jun 27, 2024
Transactions value $: $45,250
Form type: 4
Date filed: 6/28/2024, 09:40 AM
Previous filing: May 3, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NONE	Common Stock	Options Exercise	$45.3K	+2.5K	+3%	$18.10^*	85.7K	Jun 27, 2024	Direct	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	Stock Subscription Rights (Right to Buy)	Options Exercise	$0	-2.5K	-100%	$0.00^*	0	Jun 27, 2024	Common Stock	2.5K	$18.10	Direct

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

Donald C. Brown is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	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. Mr. Brown retired from the Board of Directors on May 21, 2024 and the vesting of these stock rights was accelerated based on approval by the Compensation Committee.

Content

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. Mr. Brown retired from the Board of Directors on May 21, 2024 and the vesting of these stock rights was accelerated based on approval by the Compensation Committee.