Avery Dennison Corp — Director's Dealing 2019

Mar 4, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Avery Dennison Corp (AVY)
CIK: 0000008818
Period of Report: 2019-02-28

Reporting Person: Lovins Gregory (SVP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-02-28	Common Stock	M	2947	$107.92	Acquired	16989	Direct
2019-02-28	Common Stock	F	1328	$107.92	Disposed	15661	Direct
2019-02-28	Common Stock	M	1641	$107.92	Acquired	17302	Direct
2019-02-28	Common Stock	F	736	$107.92	Disposed	16566	Direct
2019-02-28	Common Stock	M	962	$107.92	Acquired	17528	Direct
2019-02-28	Common Stock	F	432	$107.92	Disposed	17096	Direct
2019-02-28	Common Stock	M	7672	$107.92	Acquired	24768	Direct
2019-02-28	Common Stock	F	3442	$107.92	Disposed	21326	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-02-28	2015 MSU Award	$0	M	2947	Disposed	2019-02-28	Common Stock (2947)	Direct
2019-02-28	2016 MSU Award	$0	M	1641	Disposed	2020-02-27	Common Stock (1641)	Direct
2019-02-28	2017 MSU Award	$0	M	962	Disposed	2021-02-25	Common Stock (962)	Direct
2019-02-28	2018 MSU Award	$0	M	0	Disposed	2022-02-22	Common Stock (0)	Direct
2019-02-28	2016 PU Award	$0	M	7672	Disposed	2019-02-28	Common Stock (7672)	Direct
2019-02-28	2019 MSU Award	$0	A	5521	Acquired	2023-02-28	Common Stock (5521)	Direct
2019-02-28	2019 PU Award	$0	A	6715	Acquired	2022-02-28	Common Stock (6715)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock (Savings Plan)	1985.1059	Indirect

Footnotes

F1: Shares reflect the vesting of the fourth 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 the 2015-2018 performance period, plus dividend equivalents accrued during the period.

F2: Shares reflect the vesting of the third tranche of market-leveraged stock units granted in February 2016 at 188% of target based on our absolute total stockholder return in excess of 10% during the 2016-2018 performance period, plus dividend equivalents accrued during the period.

F3: Shares reflect the vesting of the second tranche of market-leveraged stock units granted in February 2017 at 137% of target based on our absolute total stockholder return in excess of 10% during the 2017-2018 performance period, plus dividend equivalents accrued during the period.

F4: The first tranche of market-leveraged stock units granted in February 2018 were cancelled since the threshold level of performance was not achieved based on our absolute total stockholder return during the 2018 performance period.

F5: Shares reflect the vesting of performance units granted in February 2016 at 200% of target, 75% based on LGM's cumulative economic value added and 25% on our relative total stockholder return.

F6: Market-leveraged stock units vest 25% over one-, two-, three- and four-year performance periods, with the number of shares paid on each vesting date based on the percentage change in the Company's stock price, plus dividend equivalents accrued during the vesting period. Each market-leveraged stock unit represents a contingent right to receive one share of Avery Dennison Corporation common stock, plus dividend equivalents.

F7: Performance units vest, if at all, at the end of fiscal year 2021, provided certain performance objectives are met as determined by the Compensation Committee in February 2022. Each performance unit represents a contingent right to receive one share of Avery Dennison Corporation common stock.