# EDGAR Filing Document

**Accession Number:** 0000277638
**File Stem:** 0001628280-25-044730
**Filing Date:** 2025-10
**Character Count:** 6838
**Document Hash:** c250e26a44ac877bcbd495bc76dbb80a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-044730.hdr.sgml**: 20251010

**ACCESSION NUMBER**: 0001628280-25-044730

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251010

**FILED AS OF DATE**: 20251010

**DATE AS OF CHANGE**: 20251010

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** HOUSTON JAMES C
- **CENTRAL INDEX KEY:** 0001929436

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-11917
- **FILM NUMBER:** 251386395

**MAIL ADDRESS:**
- **STREET 1:** 1500 N MANTUA ST
- **CITY:** KENT
- **STATE:** OH
- **ZIP:** 44240
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DAVEY TREE EXPERT CO
- **CENTRAL INDEX KEY:** 0000277638
- **STANDARD INDUSTRIAL CLASSIFICATION:** AGRICULTURE SERVICES [0700]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 340176110
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1500 N MANTUA ST
- **STREET 2:** P O BOX 5193
- **CITY:** KENT
- **STATE:** OH
- **ZIP:** 44240-5193
- **BUSINESS PHONE:** 3306739511

**MAIL ADDRESS:**
- **STREET 1:** 1500 NORTH MANTUA STREET
- **STREET 2:** P O BOX 5193
- **CITY:** KENT
- **STATE:** OH
- **ZIP:** 44240-5193

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[x] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>HOUSTON JAMES C<br><sub>(Last) (First) (Middle)</sub><br>1500 N MANTUA ST<br><sub>(Street)</sub><br>KENT, OH 44240<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-10-10 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_VP & GM, Residential & Commerc_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>DAVEY TREE EXPERT CO [ NONE ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-10-10 |  | M |  | 3360<sup>(1)</sup> | A | $8.18 | 97141 | D |  |
| Common Stock | 2025-10-10 |  | M |  | 4400<sup>(1)</sup> | A | $8.80 | 101541 | D |  |
| Common Stock | 2025-10-10 |  | M |  | 8394<sup>(1)</sup> | A | $9.55 | 109935 | D |  |
| Common Stock | 2025-10-10 |  | S |  | 5740<sup>(1)</sup> | D | $25.50 | 104195 | D |  |
| Common Stock | 2025-10-10 |  | F |  | 3135<sup>(2)</sup> | D | $25.50 | 101060 | D |  |
| Common Stock | 2025-10-10 |  | F |  | 5473<sup>(3)</sup> | D | $25.50 | 95587 | D |  |
| Common Stock |  |  |  |  |  |  |  | 30348.3641<sup>(4)</sup> | I | By 401KSOP |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Stock Appreciation Rights <sup>(2016)</sup> | $8.18 | 2025-10-10 |  | M |  |  | 3360 | 2017-03-04 | 2026-03-04 | Common Stock | 3360 | $0 | 0 | D |  |
| Stock Appreciation Rights <sup>(2017)</sup> | $8.80 | 2025-10-10 |  | M |  |  | 4400 | 2018-03-03 | 2027-03-03 | Common Stock | 4400 | $0 | 0 | D |  |
| Stock Appreciation Rights <sup>(2018)</sup> | $9.55 | 2025-10-10 |  | M |  |  | 8394 | 2019-03-09 | 2028-03-09 | Common Stock | 8394 | $0 | 0 | D |  |

---

### Footnotes:

(1) Exercise of SARs upon retirement.

(2) Payment of taxes in connection with SARs pay-out.

(3) Payment of taxes in connection with PRSUs pay-out.

(4) This total reflects routine accumulation of 30,348.3641 common shares acquired through the Company's 401(K) benefit plan as of October 10, 2025, based on internal records.

**Signature:** /s/James C. Houston, Christopher J. Bast, by Power of Attorney  
**Date:** 2025-10-10

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**