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: CLYDE TIMOTHY S (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-24	Common Stock	M	316	$39.32	Acquired	2190	Direct
2011-02-24	Common Stock	M	235	$39.32	Acquired	2425	Direct
2011-02-24	Common Stock	M	1763	$39.32	Acquired	4188	Direct
2011-02-24	Common Stock	M	1656	$39.32	Acquired	5844	Direct
2011-02-24	Common Stock	F	1470	$39.32	Disposed	4374	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-24	2011 Stock Option	$39.32	A	61800	Acquired	2021-02-24	Common Stock (61800)	Direct
2011-02-24	2011 PSU Award	$0	A	8860	Acquired	2014-02-27	Common Stock (8860)	Direct
2011-02-24	2005 DER	$39.32	M	316	Disposed	2011-04-28	Common Stock (316)	Direct
2011-02-24	2006 DER	$39.32	M	235	Disposed	2011-04-28	Common Stock (235)	Direct
2011-02-24	2005 RSU award	$39.32	M	1763	Disposed	2011-04-28	Common Stock (1763)	Direct
2011-02-24	2006 RSU award	$39.32	M	1656	Disposed	2011-04-28	Common Stock (1656)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Savings Plan	9960.241	Indirect
SHARE Plan	1437.1719	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.