COVEY PATRICK M 4
Research Summary
AI-generated summary
Davey Tree CEO Patrick M. Covey Sells 50,756 Shares
What Happened
- Patrick M. Covey (Chairman, President & CEO; Director) sold 50,756 common shares on April 16, 2026 in an open-market/private sale at $27.60 per share, for total proceeds of $1,400,866. This was a sale (code S) rather than a purchase.
Key Details
- Transaction date and price: April 16, 2026 — 50,756 shares at $27.60 each.
- Total proceeds: $1,400,866.
- Filing date: Form 4 filed April 17, 2026 (filed the day after the transaction).
- Shares owned after transaction: Not specified in the provided filing details.
- Footnote (F1): The filing notes a routine accumulation of 29,236.962 common shares acquired through the Company’s 401(k) plan as of April 17, 2026; the 401(k) account balance decreased due to administrative fees withheld by the plan administrator.
- No 10b5-1 plan, gift, exercise, or tax-withholding language was indicated in the provided details.
Context
- Sales by executives are common and can be routine (e.g., portfolio rebalancing, tax needs, or plan-related activity); a sale alone does not necessarily signal negative views about the company. The filing also records routine 401(k)-plan share accumulation separate from this sale.