Divina Fe Santiago - 05 Sep 2023 Form 3 Insider Report for Avery Dennison Corp (AVY)

Role: VP Controller
Signature: /s/ Vikas Arora POA for Divina Santiago
Issuer symbol: AVY
Transactions as of: 05 Sep 2023
Net transactions value: $0
Form type: 3
Filing time: 05 Sep 2023, 16:46:52 UTC
Next filing: 05 Mar 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	AVY	Common Stock						214	05 Sep 2023	Direct
holding	AVY	Common Stock (Savings Plan)						360	05 Sep 2023	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
holding	AVY	2022 MSU Award							05 Sep 2023	Common Stock	221	$0.000000	Direct	F1
holding	AVY	2022 PU Award							05 Sep 2023	Common Stock	236	$0.000000	Direct	F2
holding	AVY	2023 MSU Award							05 Sep 2023	Common Stock	228	$0.000000	Direct	F1
holding	AVY	2023 PU Award							05 Sep 2023	Common Stock	235	$0.000000	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Market-leveraged stock units vest 25% over one-, two-, three- and four-year performance periods, with the number of shares paid on each vesting datebased on the percentage change in the Company's stock price, plus dividend equivalents accrued during the vesting period. Each market-leveraged stockunit represents a contingent right to receive one share of common stock, plus accrued dividend equivalents.
F2	Performance units vest, if at all, at the end of fiscal year 2024, provided certain performance objectives are met as determined by the Compensation Committee in February 2025. Each performance unit represents a contingent right to receive one share of common stock.
F3	Performance units vest, if at all, at the end of fiscal year 2025, provided certain performance objectives are met as determined by the Compensation Committee in February 2026. Each performance unit represents a contingent right to receive one share of common stock.