SEC Form 4 · accession 0001363607-16-000018
DAVEY TREE EXPERT CO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick M Covey
Officer — President & COO · Director
Period of report
Apr 27, 2016
Accepted (ET)
Apr 29, 2016 · 9:55 am EDT
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 | Apr 27, 2016 | A | 208 | $19.70 | A | 32,981 | D | |
| Common StockF2 | Apr 27, 2016 | A | 2,000 | $16.00 | A | 34,981 | D | |
| Common StockF3 | holding | — | — | — | 5,371 | 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) | $19.70 | Apr 27, 2016 | J | 208 | D | Aug 1, 2012 | Jul 31, 2019 | Common Stock | 208 | 630 | D |
| Common StockF2 | $16.00 | Apr 27, 2016 | M | 2,000 | D | Nov 2, 2010 | Nov 2, 2019 | Non-Qualified Stock Option (Right to Buy) | 2,000 | 3,000 | D |
Explanation of responses
- F1The reported stock subscription 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" may be exercised at the rate of 1/7 per year beginning on August 1, 2012 and will expire on July 31, 2019.
- F2These options vested and became fully exercisable on November 2, 2014.
- F3This total reflects routine accumulation of 5,370.9399 common shares acquired through the Company's 401(K) benefit plan as of April 27, 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.