SEC Form 4 · accession 0001487329-17-000004

DAVEY TREE EXPERT CO

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

Reporting owner

Officer — Exec VP, U.S. Residential Ops

Period of report

Mar 14, 2017

Accepted (ET)

Mar 16, 2017 · 4:41 pm 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 Stock^F1	Mar 14, 2017	A	876	$35.20	A	149,506	D
Common Stock^F2	Mar 14, 2017	A	611	$35.20	A	150,117	D
Common Stock	holding	—	—		—	8	I	By Son
Common Stock^F3	holding	—	—		—	25,559	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 (2017)^F4	$35.20	Mar 14, 2017	A	3,100	A	Mar 14, 2018	Dec 31, 2026	Common Stock	3,100	3,100	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.
F2Reflects common shares granted pursuant to the Company's Management Incentive Plan.
F3This total reflects routine accumulation of 25,559.4399 common shares acquired through the Company's 401(K) benefit plan as of March 14, 2017, based on internal records.
F4These stock appreciation rights become exercisable in five equal annual installments beginning on the first anniversary of the grant date.