SEC Form 4 · accession 0001247546-16-000014

DAVEY TREE EXPERT CO

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Chairman, President & CEO · Director

Period of report

Mar 4, 2016

Accepted (ET)

Mar 8, 2016 · 5:43 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 Stock^F1	Mar 4, 2016	A	3,984	$0.00	A	39,831	D
Common Stock	holding	—	—		—	252,442	I	By Karl J. Warnke Trust
Common Stock	holding	—	—		—	157,551	I	By Barbara R. Warnke Trust
Common Stock^F2	holding	—	—		—	48,096	I	By 401(k) Plan

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Appreciation Rights (2016)^F3	$32.70	Mar 4, 2016	A	34,300	A	Mar 4, 2017	Dec 31, 2025	Common Stock	34,300	34,300	D

F1Upon the achievement of certain performance criteria, performance restricted stock units (PRSUs) were granted pursuant to the Company's performance restricted stock unit program, are payable in common shares, will be fully vested on the earlier of (a) the fifth anniversary of the grant date (the transaction date herein), (b) retirement (provided that the participant has attained the age of 55 years and has had at least five years of service with the Company), (c) total or permanent disability or death, or (d) certain events of termination, and will be paid no later than March 15 following the year in which the participant retires.
F2This total reflects routine accumulation of 48,096.2246 common shares acquired through the Company's 401(K) benefit plan as of March 4, 2016, 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.
F3These stock appreciation rights become exercisable in five equal annual installments beginning on the first anniversary of the grant date.