Avery Dennison Corp — Director's Dealing 2011

Feb 28, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVERY DENNISON CORPORATION (AVY)
CIK: 0000008818
Period of Report: 2011-02-24

Reporting Person: Miller Susan C (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-24	Common Stock	M	115	$39.32	Acquired	1314	Direct
2011-02-24	Common Stock	M	85	$39.32	Acquired	1399	Direct
2011-02-24	Common Stock	M	644	$39.32	Acquired	2043	Direct
2011-02-24	Common Stock	M	599	$39.32	Acquired	2642	Direct
2011-02-24	Common Stock	F	559	$39.32	Disposed	2083	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-24	2011 Stock Option	$39.32	A	52920	Acquired	2021-02-24	Common Stock (52920)	Direct
2011-02-24	2011 PSU Award	$0	A	7587	Acquired	2014-02-27	Common Stock (7587)	Direct
2011-02-24	2005 DER	$39.32	M	115	Disposed	2011-04-28	Common Stock (115)	Direct
2011-02-24	2006 DER	$39.32	M	85	Disposed	2011-04-28	Common Stock (85)	Direct
2011-02-24	2005 RSU award	$39.32	M	644	Disposed	2011-04-28	Common Stock (644)	Direct
2011-02-24	2006 RSU award	$39.32	M	599	Disposed	2011-04-28	Common Stock (599)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Savings Plan	3355.439	Indirect
SHARE Plan	1220.119	Indirect

Footnotes

F1: Options are exercisable in cumulative installments of 25% on the first, second, third and fourth anniversary of the date of the grant.

F2: Performance units vest, if at all, on February 27, 2014, provided certain Company performance objectives are met. Each performance unit represents a contingent right to receive one share of Avery Dennison Corporation common stock.

F3: 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.

F4: 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.

F5: Each restricted stock unit represents a contingent right to receive one share of Avery Dennison Corporation common stock.

F6: Each restricted stock unit represents a contingent right to receive one share of Avery Dennison Corporation common stock.