SEC Form 4 · accession 0001487329-19-000004

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 7, 2019

Accepted (ET)

Mar 11, 2019 · 2:06 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 7, 2019	A	3,335	$21.10	A	319,589	D
Common Stock	holding	—	—		—	16	I	By Son
Common Stock^F2	holding	—	—		—	52,393	I	By 401(k) Plan

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Nonqualified Stock Option (Right to Buy)^F3	$21.10	Mar 7, 2019	A	3,000	A	Mar 7, 2020	Mar 7, 2029	Common Stock	3,000	3,000	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 52,379.5274 common shares acquired through the Company's 401(K) benefit plan as of March 7, 2019, 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 options become exercisable in 20% installments on each anniversary of the grant date beginning March 7, 2020.