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Avery Dennison Corp — Director's Dealing 2024
Mar 5, 2024
30491_dirs_2024-03-05_551975c5-dd51-4ef0-89b0-755b51e10683.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Avery Dennison Corp (AVY)
CIK: 0000008818
Period of Report: 2024-03-01
Reporting Person: Melo Francisco (President, Solutions Group)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-03-01 | Common Stock | M | 600 | $216.45 | Acquired | 17505 | Direct |
| 2024-03-01 | Common Stock | F | 22 | $216.45 | Disposed | 17483 | Direct |
| 2024-03-01 | Common Stock | M | 372 | $216.45 | Acquired | 17855 | Direct |
| 2024-03-01 | Common Stock | F | 175 | $216.45 | Disposed | 17680 | Direct |
| 2024-03-01 | Common Stock | M | 405 | $216.45 | Acquired | 18085 | Direct |
| 2024-03-01 | Common Stock | F | 191 | $216.45 | Disposed | 17894 | Direct |
| 2024-03-01 | Common Stock | M | 575 | $216.45 | Acquired | 18469 | Direct |
| 2024-03-01 | Common Stock | F | 271 | $216.45 | Disposed | 18198 | Direct |
| 2024-03-01 | Common Stock | M | 1477 | $216.45 | Acquired | 19675 | Direct |
| 2024-03-01 | Common Stock | F | 695 | $216.45 | Disposed | 18980 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-03-01 | 2024 MSU Award | $0 | A | 1796 | Acquired | 2028-03-01 | Common Stock (1796) | Direct |
| 2024-03-01 | 2024 PU Award | $0 | A | 2178 | Acquired | 2027-03-01 | Common Stock (2178) | Direct |
| 2024-03-01 | 2020 MSU Award | $0 | M | 600 | Disposed | 2024-03-01 | Common Stock (600) | Direct |
| 2024-03-01 | 2021 MSU Award | $0 | M | 372 | Disposed | 2025-03-01 | Common Stock (372) | Direct |
| 2024-03-01 | 2022 MSU Award | $0 | M | 405 | Disposed | 2026-03-01 | Common Stock (405) | Direct |
| 2024-03-01 | 2023 MSU Award | $0 | M | 575 | Disposed | 2027-03-01 | Common Stock (575) | Direct |
| 2024-03-01 | 2021 PU Award | $0 | M | 1477 | Disposed | 2024-03-01 | Common Stock (1477) | Direct |
Footnotes
F1: Market-leveraged stock units (MSUs) vest 25% over one-, two-, three- and four-year performance periods, with the number of shares paid on each vesting date based on our absolute total stockholder return. Each MSU represents a contingent right to receive one share of common stock, plus dividend equivalents accrued during the vesting period.
F2: Performance units (PUs) vest, at the end of fiscal year 2026, provided certain performance objectives are met as determined by the Compensation Committee in February 2027. Each PU represents a contingent right to receive one share of common stock.
F3: Shares reflect the vesting of the fourth tranche of MSUs granted in February 2020 at 180% of target based on our absolute total stockholder return in excess of 10% during the 2020-2023 performance period, plus dividend equivalents accrued during the period.
F4: Shares reflect the vesting of the third tranche of MSUs granted in March 2021 at 134% of target based on our absolute total stockholder return in excess of 10% during the 2021-2023 performance period, plus dividend equivalents accrued during the period.
F5: Shares reflect the vesting of the second tranche of MSUs granted in March 2022 at 94% of target based on our absolute total stockholder return during the 2022-2023 performance period, plus dividend equivalents accrued during the period.
F6: Shares reflect the vesting of the first tranche of MSUs granted in March 2023 at 98% of target based on our absolute total stockholder return during the 2023 performance period, plus dividend equivalents accrued during the period.
F7: Shares reflect the vesting of PUs granted in March 2021 at 123% of target, based 75% on the cumulative economic value added of RBIS (now Solutions Group) and 25% on our relative total stockholder return.