Joseph Edward Day III - 29 Mar 2024 Form 4 Insider Report for DAVEY TREE EXPERT CO

Role: EVP, US Residential Operations
Signature: /s Joseph Edward Day/Christopher J. Bast, by Power of Attorney
Issuer symbol: N/A
Transactions as of: 29 Mar 2024
Net transactions value: +$6.6
Form type: 4
Filing time: 29 Mar 2024, 12:39:05 UTC
Previous filing: 11 Mar 2024
Next filing: 28 Jun 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	$55,440	+8,400	+2.5%	$6.60^*	339,339	29 Mar 2024	Direct	F1
transaction		Common Stock	Disposed to Issuer	$55,433	-2,497	-0.74%	$22.20^*	336,842	29 Mar 2024	Direct	F1
holding		Common Stock						64	29 Mar 2024	By Daughter
holding		Common Stock						70,279	29 Mar 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		Stock Appreciation Rights (2014)	Options Exercise	$0	-8,400	-100%	$0.000000^*	0	29 Mar 2024	Common Stock	8,400	$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.