Avery Dennison Corp — Director's Dealing 2006

Dec 8, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2006-11-09

Reporting Person: DIXON DIANE B (Sr. VP, Comm. & Advertising)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-09	Common Stock	G	423	—	Disposed	5361	Direct
2006-12-07	Common Stock	J	113.74	—	Acquired	3370.321	Indirect
2006-12-07	Common Stock	J	986.602	—	Acquired	8071.146	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-07	Employee Stock Option (Right to Buy)	$67.795	A	17582	Acquired	2016-12-07	Common Stock (17582)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	678.789	Indirect

Footnotes

F1: Shares purchased under the Company's SHARE Plan in transactions exempt under Rule 16b-3(c)

F2: Shares purchased under the Company's Employee Savings Plan in transactions exempt under Rule 16b-3(c)

F3: Options are exercisable in four cumulative installments of 25% each year beginning on the first anniversary date of the grant, which is the date given.