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: MALCHIONE ROBERT M (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-24	Common Stock	M	341	$39.32	Acquired	12507	Direct
2011-02-24	Common Stock	M	224	$39.32	Acquired	12731	Direct
2011-02-24	Common Stock	M	1900	$39.32	Acquired	14631	Direct
2011-02-24	Common Stock	M	1577	$39.32	Acquired	16208	Direct
2011-02-24	Common Stock	F	1501	$39.32	Disposed	14707	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-24	2011 Stock Option	$39.32	A	50760	Acquired	2021-02-24	Common Stock (50760)	Direct
2011-02-24	2011 PSU Award	$0	A	8490	Acquired	2014-02-27	Common Stock (8490)	Direct
2011-02-24	2005 DER	$39.32	M	341	Disposed	2011-04-28	Common Stock (341)	Direct
2011-02-24	2006 DER	$39.32	M	224	Disposed	2011-04-28	Common Stock (224)	Direct
2011-02-24	2005 RSU award	$39.32	M	1900	Disposed	2011-04-28	Common Stock (1900)	Direct
2011-02-24	2006 RSU award	$39.32	M	1577	Disposed	2011-04-28	Common Stock (1577)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Savings Plan	6959.1782	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.