Avery Dennison Corp — Director's Dealing 2018

Feb 26, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Avery Dennison Corp (AVY)
CIK: 0000008818
Period of Report: 2018-02-22

Reporting Person: SCARBOROUGH DEAN A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-22	Common Stock	M	26099	$117.84	Acquired	77026	Direct
2018-02-22	Common Stock	F	11913	$117.84	Disposed	65113	Direct
2018-02-22	Common Stock	M	47512	$117.84	Acquired	112625	Direct
2018-02-22	Common Stock	F	23557	$117.84	Disposed	89068	Direct
2018-02-22	Common Stock	M	20301	$117.84	Acquired	109369	Direct
2018-02-22	Common Stock	F	10066	$117.84	Disposed	99303	Direct
2018-02-22	Common Stock	M	94508	$117.84	Acquired	193811	Direct
2018-02-22	Common Stock	F	46858	$117.84	Disposed	146953	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-02-22	2014 MSU Award	$0	M	26099	Disposed	2018-02-27	Common Stock (26099)	Direct
2018-02-22	2015 MSU Award	$0	M	47512	Disposed	2019-02-26	Common Stock (47512)	Direct
2018-02-22	2016 MSU Award	$0	M	20301	Disposed	2020-02-25	Common Stock (20301)	Direct
2018-02-22	2015 PU Award	$0	M	94508	Disposed	2018-02-26	Common Stock (94508)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	20	Indirect
Common Stock	148	Indirect
Common Stock (Savings Plan)	43690.73	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock Units	$0	1988-08-08	Common Stock (3315.6333)	3315.6333	Indirect

Footnotes

F1: Shares reflect the vesting of the fourth tranche of market-leveraged stock units granted in February 2014 at 200% of target based on our absolute total stockholder return during 2014-2017, plus dividend equivalents accrued during the period.

F2: Shares reflect the vesting of the third tranche of market-leveraged stock units granted in February 2015 at 200% of target based on our absolute total stockholder return in excess of 10% during 2015-2017, plus dividend equivalents accrued during the period.

F3: Shares reflect the vesting of the second tranche of market-leveraged stock units granted in February 2016 at 200% of target based on our absolute total stockholder return in excess of 10% during 2016-2017, plus dividend equivalents accrued during the period.

F4: Shares reflect the vesting of performance units granted in February 2015 at 200% of target, 50% based on our cumulative economic value added and 50% on our relative total stockholder return.