Joseph Edward Day - Mar 29, 2024 Form 4 Insider Report for DAVEY TREE EXPERT CO (NONE)

Role: EVP, US Residential Operations
Signature: /s Joseph Edward Day/Christopher J. Bast, by Power of Attorney
Stock symbol: NONE
Transactions as of: Mar 29, 2024
Transactions value $: $7
Form type: 4
Date filed: 3/29/2024, 12:39 PM
Previous filing: Mar 11, 2024
Next filing: Jun 28, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NONE	Common Stock	Options Exercise	$55.4K	+8.4K	+2.54%	$6.60^*	339K	Mar 29, 2024	Direct	F1
transaction	NONE	Common Stock	Disposed to Issuer	-$55.4K	-2.5K	-0.74%	$22.20^*	337K	Mar 29, 2024	Direct	F1
holding	NONE	Common Stock						64	Mar 29, 2024	By Daughter
holding	NONE	Common Stock						70.3K	Mar 29, 2024	By 401KSOP	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	NONE	Stock Appreciation Rights (2014)	Options Exercise	$0	-8.4K	-100%	$0.00^*	0	Mar 29, 2024	Common Stock	8.4K	$6.60	Direct

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

Explanation of Responses:

Id	Content
F1	Pursuant to their terms, Stock Appreciation Rights (SARs) were automatically exercised on March 7, 2024, which was the tenth anniversary of the grant date. March 29, 2024 is the earliest date on which the Company was able to complete SARs calculations, based on the availability of its stock price valuation.
F2	This total reflects routine accumulation of 70,279.0767common shares acquired through the Company's 401(K) benefit plan as of March 29, 2024, based on internal records. The number of shares in the reporting person's 401(K) plan account has decreased due to administrative fees withheld by the plan administrator.