Mitchell R. Butier - 01 Mar 2026 Form 4 Insider Report for Avery Dennison Corp (AVY)

Role: Director
Signature: /s/ Vikas Arora attorney-in-fact for Mitchell R Butier
Issuer symbol: AVY
Transactions as of: 01 Mar 2026
Net transactions value: +$1,522,400
Form type: 4
Filing time: 03 Mar 2026, 16:40:17 UTC
Previous filing: 02 May 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Butier Mitchell R	Director	8080 NORTON PARKWAY, MENTOR	/s/ Vikas Arora attorney-in-fact for Mitchell R Butier	03 Mar 2026	0001392133

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVY	Common Stock	Options Exercise	$989,288	+5,079	+1.7%	$194.78	308,410	01 Mar 2026	Direct
transaction	AVY	Common Stock	Tax liability	$589,989	-3,029	-0.98%	$194.78	305,381	01 Mar 2026	Direct
transaction	AVY	Common Stock	Options Exercise	$837,944	+4,302	+1.4%	$194.78	309,683	01 Mar 2026	Direct
transaction	AVY	Common Stock	Tax liability	$491,625	-2,524	-0.82%	$194.78	307,159	01 Mar 2026	Direct
transaction	AVY	Common Stock	Options Exercise	$1,878,653	+9,645	+3.1%	$194.78	316,804	01 Mar 2026	Direct
transaction	AVY	Common Stock	Tax liability	$1,101,870	-5,657	-1.8%	$194.78	311,147	01 Mar 2026	Direct
holding	AVY	Common Stock (Savings Plan)						4,312	01 Mar 2026	Savings Plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AVY	2022 MSU Award	Options Exercise	$0	-5,079	-100%	$0.000000	0	01 Mar 2026	Common Stock	5,079	$0.000000	Direct	F1
transaction	AVY	2023 MSU Award	Options Exercise	$0	-4,302	-58%	$0.000000	3,092	01 Mar 2026	Common Stock	4,302	$0.000000	Direct	F2
transaction	AVY	2023 PU Award	Options Exercise	$0	-9,645	-100%	$0.000000	0	01 Mar 2026	Common Stock	9,645	$0.000000	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares reflect the vesting of the fourth tranche of MSUs granted in February 2022 that remained eligible to vest after the reporting person's transition to non-executive status in April 2025, at 92% of target based on our absolute total stockholder return in excess of 10% during the 2022-2025 performance period, plus dividend equivalents accrued during the period.
F2	Shares reflect the vesting of the third tranche of MSUs granted in March 2023 that remained eligible to vest after the reporting person's transition to non-executive status in April 2025, at 96% of target based on our absolute total stockholder return during the 2023-2025 performance period, plus dividend equivalents accrued during the period.
F3	Shares reflect the vesting of PUs granted in March 2023 that remained eligible to vest after the reporting person's transition to non-executive status in April 2025, at 56% of target, based 50% on our cumulative economic value added of 0% of target and 50% on our relative total stockholder return of 112% of target.