Danny Gilad Allouche - 01 Mar 2025 Form 4 Insider Report for Avery Dennison Corp (AVY)

Role: SVP, CSDO & Interim CFO
Signature: /s/ Vikas Arora, attorney-in-fact for Danny Gilad Allouche
Issuer symbol: AVY
Transactions as of: 01 Mar 2025
Net transactions value: +$232,703
Form type: 4
Filing time: 04 Mar 2025, 18:54:57 UTC
Previous filing: 21 Nov 2024
Next filing: 02 Apr 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVY	Common Stock	Options Exercise	$70,335	+376	+2%	$187.06	18,981	01 Mar 2025	Trust
transaction	AVY	Common Stock	Tax liability	$31,613	-169	-0.89%	$187.06	18,812	01 Mar 2025	Trust
transaction	AVY	Common Stock	Options Exercise	$85,673	+458	+2.4%	$187.06	19,270	01 Mar 2025	Trust
transaction	AVY	Common Stock	Tax liability	$37,786	-202	-1%	$187.06	19,068	01 Mar 2025	Trust
transaction	AVY	Common Stock	Options Exercise	$64,536	+345	+1.8%	$187.06	19,413	01 Mar 2025	Trust
transaction	AVY	Common Stock	Tax liability	$30,865	-165	-0.85%	$187.06	19,248	01 Mar 2025	Trust
transaction	AVY	Common Stock	Options Exercise	$43,585	+233	+1.2%	$187.06	19,481	01 Mar 2025	Trust
transaction	AVY	Common Stock	Tax liability	$16,087	-86	-0.44%	$187.06	19,395	01 Mar 2025	Trust
transaction	AVY	Common Stock	Options Exercise	$151,706	+811	+4.2%	$187.06	20,206	01 Mar 2025	Trust
transaction	AVY	Common Stock	Tax liability	$66,780	-357	-1.8%	$187.06	19,849	01 Mar 2025	Trust

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	2025 MSU Award	Award	$0	+2,463		$0.000000	2,463	01 Mar 2025	Common Stock	2,463	$0.000000	Direct	F1
transaction	AVY	2025 PU Award	Award	$0	+2,564		$0.000000	2,564	01 Mar 2025	Common Stock	2,564	$0.000000	Direct	F2
transaction	AVY	2025 Promotion RSU Award	Award	$0	+2,673		$0.000000	2,673	01 Mar 2025	Common Stock	2,673	$0.000000	Direct	F3
transaction	AVY	2021 MSU Award	Options Exercise	$0	-376	-100%	$0.000000	0	01 Mar 2025	Common Stock	376	$0.000000	Direct	F4
transaction	AVY	2022 MSU Award	Options Exercise	$0	-458	-49%	$0.000000	473	01 Mar 2025	Common Stock	458	$0.000000	Direct	F5
transaction	AVY	2023 MSU Award	Options Exercise	$0	-345	-33%	$0.000000	696	01 Mar 2025	Common Stock	345	$0.000000	Direct	F6
transaction	AVY	2024 MSU Award	Options Exercise	$0	-233	-24%	$0.000000	742	01 Mar 2025	Common Stock	233	$0.000000	Direct	F7
transaction	AVY	2022 PU Award	Options Exercise	$0	-811	-100%	$0.000000	0	01 Mar 2025	Common Stock	811	$0.000000	Direct	F8

* 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 2027, provided certain performance objectives are met as determined by the Compensation Committee in February 2028. Each PU represents a contingent right to receive one share of common stock.
F3	Restricted stock units (RSUs) cliff vest on the third anniversary of the grant date. Each RSU represents a contingent right to receive one share of common stock.
F4	Shares reflect the vesting of the fourth tranche of MSUs granted in February 2021 at 128% of target based on our absolute total stockholder return in excess of 10% during the 2021-2024 performance period, plus dividend equivalents accrued during the period.
F5	Shares reflect the vesting of the third tranche of MSUs granted in March 2022 at 92% of target based on our absolute total stockholder return during the 2022-2024 performance period, plus dividend equivalents accrued during the period.
F6	Shares reflect the vesting of the second tranche of MSUs granted in March 2023 at 96% of target based on our absolute total stockholder return during the 2023-2024 performance period, plus dividend equivalents accrued during the period.
F7	Shares reflect the vesting of the first tranche of MSUs granted in March 2024 at 93% of target based on our absolute total stockholder return during the 2024 performance period, plus dividend equivalents accrued during the period.
F8	Shares reflect the vesting of PUs granted in March 2022 at 50% of target, based 50% on our cumulative economic value added of 0% of target and 50% on our capped relative total stockholder return of 100% of target.