Avery Dennison Corp — Director's Dealing 2003

Dec 5, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2003-12-05

Reporting Person: NEAL PHILIP M (Director, Chairman and C.E.O.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-19	Common Stock	G	195	—	Disposed	109687	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-04	Employee Stock Option (Right to Buy)	$55.55	A	150000	Acquired	2013-12-04	Common Stock (150000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3385.13	Indirect
Common Stock	1380.174	Indirect

Footnotes

F1: As trustee of the Philip M. Neal Trust U/D/T dated 11/8/91.

F2: Option vests nine years and nine months from the date of grant, but becomes eligible for accelerated vesting beginning three years from the date of grant, if the Company meets certain pre-established performance criteria.