Avery Dennison Corp — Director's Dealing 2008

Mar 3, 2008

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2008-03-01

Reporting Person: Miller Susan C (Senior VP and General Counsel)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	500	Direct
Common Stock	1099.568	Indirect
Common Stock	2396.277	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$45.1875	2008-12-03	Common Stock (750)		Direct
Employee Stock Option (Right to Buy)	$50.72	2010-12-07	Common Stock (3250)		Direct
Employee Stock Option (Right to Buy)	$52.115	2018-02-28	Common Stock (35035)		Direct
Employee Stock Option (Right to Buy)	$54.0313	2010-12-07	Common Stock (3250)		Direct
Employee Stock Option (Right to Buy)	$55.55	2013-12-04	Common Stock (5700)		Direct
Employee Stock Option (Right to Buy)	$55.705	2011-12-06	Common Stock (10000)		Direct
Employee Stock Option (Right to Buy)	$59.1563	2009-12-02	Common Stock (3200)		Direct
Employee Stock Option (Right to Buy)	$59.185	2014-12-02	Common Stock (13600)		Direct
Employee Stock Option (Right to Buy)	$59.465	2015-12-01	Common Stock (10302)		Direct
Employee Stock Option (Right to Buy)	$62.87	2012-12-05	Common Stock (6000)		Direct
Employee Stock Option (Right to Buy)	$67.795	2016-12-07	Common Stock (9545)		Direct

Footnotes

F1: 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.

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.