The Suns midfielder's hit on GWS opponent Ryan Angwin during their shock 35-point home loss on Saturday was originally judged as high contact, medium impact and careless conduct.
Gold Coast successfully argued at Tuesday's night tribunal hearing the charge should be downgraded to low impact, which would reduce the penalty to a fine.
Davies pleaded not guilty to rough conduct, with the club arguing the midfielder had opted to brace for contact and not to bump.
The 23-year-old said he believed he was going to receive the ball from teammate Noah Anderson before, upon realising he was no longer in the play, he opted instead to stop Angwin's run.
Davies added he had dropped his knees to reduce momentum and minimise impact, but the GWS player had moved in an "unusual, unpredictable" way.
"I wasn't thinking he was going to move his head into me," Davies said at the hearing.
The Suns also pointed out Angwin was not treated for injury after the incident and is not expected to miss any games.
But AFL legal counsel Albert Dinnelli KC argued Angwin's fitness was irrelevant.
"We rely on the fact that the grading medium is appropriate, having regard to the potential for injury," Dinnelli said.
"Luckily enough, there wasn't in this case, but the potential in and of itself is sufficient."
After 40 minutes of deliberation, the tribunal panel said Davies had bumped Angwin but were satisfied the Suns player had attempted to reduce the impact.
Port Adelaide star Ollie Wines will next front the tribunal to challenge his three-match ban for a high bump that concussed Carlton's Cooper Lord.
Lord was substituted out of the game after Wines opted to bump in the second quarter of the Power's 54-point loss at Marvel Stadium.
The bump on Lord, who had just kicked the ball, was considered high contact, severe impact and careless conduct.
Unless Wines completely overturns his charge, he will miss the send-offs of coach Ken Hinkley and former captain Travis Boak in Friday night's clash with the Suns at Adelaide Oval.Â
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