Divina Santiago - Mar 1, 2024 Form 4 Insider Report for Avery Dennison Corp (AVY)

Role
VP Controller
Signature
/s/ Vikas Arora attorney-in-fact for Divina Santiago
Stock symbol
AVY
Transactions as of
Mar 1, 2024
Transactions value $
$16,017
Form type
4
Date filed
3/5/2024, 02:48 PM
Previous filing
Sep 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVY Common Stock Options Exercise $15.4K +71 +33.18% $216.45 285 Mar 1, 2024 Direct
transaction AVY Common Stock Tax liability -$6.49K -30 -10.53% $216.45 255 Mar 1, 2024 Direct
transaction AVY Common Stock Options Exercise $12.3K +57 +22.35% $216.45 312 Mar 1, 2024 Direct
transaction AVY Common Stock Tax liability -$5.19K -24 -7.69% $216.45 288 Mar 1, 2024 Direct
holding AVY Common Stock (Savings Plan) 363 Mar 1, 2024 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 2024 MSU Award Award $0 +375 $0.00 375 Mar 1, 2024 Common Stock 375 $0.00 Direct F1
transaction AVY 2024 PU Award Award $0 +428 $0.00 428 Mar 1, 2024 Common Stock 428 $0.00 Direct F2
transaction AVY 2022 MSU Award Options Exercise $0 -71 -32.57% $0.00 147 Mar 1, 2024 Common Stock 71 $0.00 Direct F3
transaction AVY 2023 MSU Award Options Exercise $0 -57 -25% $0.00 171 Mar 1, 2024 Common Stock 57 $0.00 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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 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.
F4 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.