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Avery Dennison Corp — Director's Dealing 2024
Mar 5, 2024
30491_dirs_2024-03-05_d4ec48c0-0722-4d4f-8353-53adb4aa35c5.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: Lovins Gregory (SVP and CFO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-03-01 | Common Stock | M | 3014 | $216.45 | Acquired | 65085 | Direct |
| 2024-03-01 | Common Stock | F | 921 | $216.45 | Disposed | 64164 | Direct |
| 2024-03-01 | Common Stock | M | 1254 | $216.45 | Acquired | 65418 | Direct |
| 2024-03-01 | Common Stock | F | 381 | $216.45 | Disposed | 65037 | Direct |
| 2024-03-01 | Common Stock | M | 1418 | $216.45 | Acquired | 66455 | Direct |
| 2024-03-01 | Common Stock | F | 599 | $216.45 | Disposed | 65856 | Direct |
| 2024-03-01 | Common Stock | M | 1133 | $216.45 | Acquired | 66989 | Direct |
| 2024-03-01 | Common Stock | F | 514 | $216.45 | Disposed | 66475 | Direct |
| 2024-03-01 | Common Stock | M | 7095 | $216.45 | Acquired | 73570 | Direct |
| 2024-03-01 | Common Stock | F | 3219 | $216.45 | Disposed | 70351 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-03-01 | 2024 MSU Award | $0 | A | 3609 | Acquired | 2028-03-01 | Common Stock (3609) | Direct |
| 2024-03-01 | 2024 PU Award | $0 | A | 4119 | Acquired | 2027-03-01 | Common Stock (4119) | Direct |
| 2024-03-01 | 2020 MSU Award | $0 | M | 3014 | Disposed | 2024-03-01 | Common Stock (3014) | Direct |
| 2024-03-01 | 2021 MSU Award | $0 | M | 1254 | Disposed | 2025-03-01 | Common Stock (1254) | Direct |
| 2024-03-01 | 2022 MSU Award | $0 | M | 1418 | Disposed | 2026-03-01 | Common Stock (1418) | Direct |
| 2024-03-01 | 2023 MSU Award | $0 | M | 1133 | Disposed | 2027-03-01 | Common Stock (1133) | Direct |
| 2024-03-01 | 2021 PU Award | $0 | M | 7095 | Disposed | 2024-03-01 | Common Stock (7095) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock (Savings Plan) | 2157.9286 | Indirect |
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 183% of target, based 50% on our cumulative economic value added and 50% on our relative total stockholder return.