SEC Form 4 · accession 0001362786-16-000014
DAVEY TREE EXPERT CO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph R Paul
Officer — EVP, CFO & Secretary
Period of report
Mar 4, 2016
Accepted (ET)
Mar 8, 2016 · 5:28 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 | Mar 4, 2016 | A | 1,570 | $0.00 | A | 25,747 | D | |
| Common StockF2 | holding | — | — | — | 2,725 | 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 Appreciation Rights (2016)F3 | $32.70 | Mar 4, 2016 | A | 12,500 | A | Mar 4, 2017 | Dec 31, 2025 | Common Stock | 12,500 | 25,000 | D |
Explanation of responses
- 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 2,725.4836 common shares acquired through the Company's 401(K) benefit plan as of March 4, 2016 based on internal records.
- F3These stock appreciation rights become exercisable in five equal annual installments beginning on the first anniversary of the grant date.