SEC Form 4 · accession 0001247543-17-000002
DAVEY TREE EXPERT CO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Nicholas R Sucic
Officer — FORMER VP and Controller
Period of report
Dec 31, 2016
Accepted (ET)
Jan 4, 2017 · 4:15 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000277638
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Dec 31, 2016 | M | 1,040 | $19.70 | A | 39,773 | D | |
| Common StockF2 | holding | — | — | — | 3,041 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Subscription Rights (Right to Buy)F1 | $19.70 | Dec 31, 2016 | M | 1,040 | A | Aug 1, 2012 | Jul 31, 2019 | Common Stock | 1,040 | 0 | D |
Explanation of responses
- F1Reflects exercise of stock subscription rights. The reported 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 2004 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 $19.70 per share, for every three shares of common stock purchased under the Plan. Each "right" could be exercised at the rate of 1/7 per year beginning on August 1, 2012, expiring upon the earlier of termination of employment or July 31, 2019. Mr. Sucic's remaining rights to purchase 422 shares of the Company's common stock were forfeited upon his retirement from the Company.
- F2This total reflects routine accumulation of 3,040.8728 shares of common stock acquired through the Company's 401(K) benefit plan as of December 31, 2016, based on internal records.