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March/April 2022
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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.
