The three shot out of the way (4)

Here is my best explanation:

'the three' is the definition.
('trey' can be a synonym of 'three')

'shot out of the way' is the wordplay.
'shot' becomes 'try' (I've seen this before).
'out of' indicates putting letters inside.
'the way' becomes 'e' (Compass direction - East).
'try' enclosing 'e' is 'TREY'.