Davey Tree Flipbooks

March-April 2022 Davey Bulletin

The Davey Tree Expert Company provides residential and commercial tree service and landscape service throughout North America. Read our Flipbooks for helpful tips and information on proper tree and lawn care.

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29 March/April 2022 | THE DAVEY BULLETIN STOCK SUBSCRIPTION OFFERING APPROVED At the March 2022 board meeting, the Board of Directors of The Davey Tree Expert Company approved plans to make a stock subscription offering available to employees in 2022. The last stock subscription was done in 2012, and Davey typically does them every 10 years. Detailed information about the stock subscription offering will be made available to employees in the coming weeks. Davey's treasury department will mail official offering documentation to employees in early April. An educational video explaining the details regarding this stock subscription offering will be released on the Davey Learning Management System (LMS) for active employees to view. Information will be published on DaveyConnect, and shared in upcoming Employee Townhalls, about the stock subscription in advance of the offering in August. WHAT IS A STOCK SUBSCRIPTION? The Davey stock subscription is an offering made to eligible employees to purchase company stock at the current market price, which can enhance your ownership in the company and contribute to your retirement or savings goals. HOW DOES IT WORK? Eligible employees who choose to participate will select the number of shares they wish to purchase from set blocks of shares. Shares can be purchased with cash or financed if you purchase over $5,000 in shares. The current share price of $18.10 will apply to the subscription. Financed shares will be paid for over seven years with a low interest rate loan, with a 10% required down payment. The down payment is not payroll deductible. A payment schedule will be provided based on the number of shares selected. The payment for financed shares can be paid through a monthly payroll deduction or paid directly by the employee annually. WHO IS ELIGIBLE? All Davey employees with 90 days of continuous service at the date of the offering would be eligible to participate in the stock subscription. The official offering date is April 1, 2022. Therefore, the hire/eligibility date is Jan. 1, 2022. WHERE CAN I GET MORE INFORMATION? Watch for official subscription offering documentation to be mailed to employees in early April. Look for more educational information soon on DaveyConnect, in upcoming Townhalls and on the Davey LMS. Questions about the stock subscription offering can be sent via email to Treasury@davey.com. YOU SHOULD KNOW STOCK SUBSCRIPTIONS: A BRIEF HISTORY Davey has held four stock subscriptions in company history since becoming employee-owned in 1979. • The first subscription occurred in 1979 at the time of the employee-acquisition to help make the employees' purchase of the company from the Davey family possible. • The second subscription offering took place in 1989. • The third subscription offering was held in 2002, and the most recent stock subscription occurred in 2012. The 2022 offering marks the fifth time in company history employees have been able to participate in a stock subscription.

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