X0303 4 2003-12-05 0 0000277638 DAVEY TREE EXPERT CO NONE 0001247523 BOWLES HOWARD D 1500 NORTH MANTUA STREET KENT OH 44240 0 1 0 0 Sr VP & GM-Davey Tree Surgery Common Stock 2004-05-19 4 A 0 2510 0.00 A 204055 D Common Stock 2004-05-19 4 A 0 8548 0.00 A 204055 D Common Stock 2005-02-28 4 A 0 4132 0.00 A 204055 D Common Stock 2005-02-28 4 A 0 4716 0.00 A 204055 D Common Stock 2006-02-27 4 A 0 4058 0.00 A 204055 D Common Stock 2006-02-27 4 A 0 4716 0.00 A 204055 D Common Stock 2007-03-08 4 A 0 3912 0.00 A 204055 D Common Stock 2007-03-08 4 A 0 4716 0.00 A 204055 D Common Stock 2008-03-11 4 A 0 4716 0.00 A 204055 D Common Stock 2008-03-11 4 A 0 4716 0.00 A 204055 D Common Stock 2009-03-10 4 A 0 4660 0.00 A 204055 D Common Stock 2009-03-10 4 A 0 4716 0.00 A 204055 D Common Stock 2010-03-09 4 A 0 2488 0.00 A 204055 D Common Stock 2010-03-09 4 A 0 4716 0.00 A 204055 D Common Stock 2011-03-09 4 A 0 2660 0 A 204055 D Common Stock 2011-03-09 4 A 0 4716 0 A 204055 D Common Stock 65822.6358 I By 401(k) plan Incentive Stock Option (Right to Buy) 6.75 2003-12-05 4 A 0 40000 0 A 2004-12-05 2013-12-05 Common Stock 40000 40000 D Nonqualified Stock Option (Right to Buy) 11.25 2006-06-05 4 A 0 20000 0.00 A 2007-06-05 2016-06-05 Common Stock 20000 20000 D Stock Appreciation Rights (2009) 16.40 2009-03-10 4 A 0 3000 0.00 A 2010-03-10 2018-12-31 Common Stock 3000 3000 D Stock Appreciation Rights (2010) 16.60 2010-03-09 4 A 0 3000 0 A 2011-03-09 2019-12-31 Common Stock 3000 3000 D Stock Appreciation Rights (2011) 18.40 2011-03-09 4 A 0 3000 0.00 A 2012-03-09 2020-12-31 Common Stock 3000 3000 D Upon 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. 204,055 common shares are beneficially owned as of July 21, 2011. Restricted stock units (RSUs) were granted pursuant to the Company's restricted stock unit program, are payable in common shares, will be fully vested upon the earlier of (a) the fifth anniversary of the respective 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. This total reflects routine accumulation of 65,822.6358 common shares acquired through the Company's 401(k) benefit plan as of July 20, 2011, based on internal records. These options vest and become exercisable in five equal annual installments beginning on the first anniversary of the grant date. These stock appreciation rights become exercisable in five equal annual installments beginning on the first anniversary of the grant date. /s/Howard D. Bowles/David E. Adante, by Power of Attorney 2011-07-21