Thea R. Sears - 13 Nov 2025 Form 4 Insider Report for DAVEY TREE EXPERT CO

Role
Senior VP and Controller
Signature
/s/Thea R. Sears/Christopher J. Bast, by Power of Attorney
Transactions as of
13 Nov 2025
Transactions value $
-$91,281
Form type
4
Filing time
13 Nov 2025, 09:47:54 UTC
Previous filing
02 Sep 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Sears Thea R. Senior VP and Controller 1500 NORTH MANTUA STREET, KENT /s/Thea R. Sears/Christopher J. Bast, by Power of Attorney 13 Nov 2025 0001492919

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction Common Stock Options Exercise $36K +4.4K +1.88% $8.18 238K 13 Nov 2025 Direct F1
transaction Common Stock Options Exercise $38.7K +4.4K +1.85% $8.80 243K 13 Nov 2025 Direct F1
transaction Common Stock Options Exercise $53.8K +5.64K +2.32% $9.55 248K 13 Nov 2025 Direct F1
transaction Common Stock Sale -$129K -5.04K -2.03% $25.50 243K 13 Nov 2025 Direct F1
transaction Common Stock Tax liability -$91.3K -3.58K -1.47% $25.50 240K 13 Nov 2025 Direct F2
holding Common Stock 23.1K 13 Nov 2025 By 401(k) Plan F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction Stock Appreciation Rights (2016) Options Exercise $0 -4.4K -100% $0.00 0 13 Nov 2025 Common Stock 4.4K $8.18 Direct
transaction Stock Appreciation Rights (2017) Options Exercise $0 -4.4K -100% $0.00 0 13 Nov 2025 Common Stock 4.4K $8.80 Direct
transaction Stock Appreciation Rights (2018) Options Exercise $0 -5.64K -100% $0.00 0 13 Nov 2025 Common Stock 5.64K $9.55 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Exercise of SARs.
F2 Payment of taxes in connection with SARs pay-out.
F3 This total reflects routine accumulation of 23,055.8618 common shares acquired through the Company's 401(K) benefit plan as of November 13, 2025, based on internal records.