Avery Dennison Corp — Director's Dealing 2009

Dec 10, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2009-12-07

Reporting Person: Butier Mitchell R (Corp.VP, Global Finance)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-12-07	Common Stock	M	234	—	Acquired	234	Direct
2009-12-07	Common Stock	M	2000	—	Acquired	2234	Direct
2009-12-07	Common Stock	F	799	$38.74	Disposed	1435	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-12-07	Dividend Equivalent Rights	$	M	234	Disposed		Common Stock (234)	Direct
2009-12-07	Employee Restricted Stock Units	$	M	2000	Disposed		Common Stock (2000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1024.945	Indirect

Footnotes

F1: Settlement of dividend equivalent rights in connection with vesting of restricted stock units. The rights accrued when and as dividends were paid on the common stock. Each dividend right represents the right to receive one share of common stock.

F2: Each restricted stock unit represents a contingent right to receive one share of Avery Dennison Corporation common stock together with a number of shares of "dividend equivalents" equal in value to the amount of dividends paid on each share of common stock.

F3: The restricted stock units vested on the date shown in column 3.