Allouche Danny Gilad 4
4 · Avery Dennison Corp · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Avery Dennison (AVY) SVP Danny Allouche Exercises Options, Receives Awards
What Happened
- Danny Gilad Allouche, SVP & Chief Sustainability and Digital Officer (CSDO) of Avery Dennison (AVY), exercised/converted derivatives and received share awards on 2026-03-01. He exercised options/conversions totaling 2,435 shares at an exercise price of $194.78 per share, paying about $474,289 in exercise price. To satisfy tax withholding obligations, 988 of those shares were surrendered (valued at about $192,443).
- In addition, Allouche was credited with 5,340 share awards (2,183 and 3,157 units shown as grants/awards) at $0 cost (derivative awards that converted/vested per plan rules).
Key Details
- Transaction date: March 1, 2026; Form 4 filed March 3, 2026 (timely filing).
- Exercise details: 2,435 shares exercised at $194.78 each (total exercise price ≈ $474,289).
- Tax withholding: 988 shares withheld to cover taxes (value ≈ $192,443).
- Awards: 2,183 and 3,157 share-based awards recorded (total 5,340 units) at $0.00 — these are RSUs/MSUs/PUs as described in footnotes.
- Shares owned after transaction: Not stated in the provided filing excerpt.
- Transaction codes explained: M = exercise/conversion of derivative, F = payment of exercise price or tax liability (share withholding), A = grant/award.
Context
- This appears to be a common equity-compensation event: option/derivative exercises combined with share-withholding to cover taxes (a cashless/withholding element). The filing also records vested/awarded share units tied to multi-year performance or time-based vesting.
- Footnotes indicate vesting/performance details: RSUs vest 25% annually (F1); PUs and MSUs vest based on performance periods with vesting at various percentages of target (F2–F7). These are standard compensation processes rather than open-market purchases or sales driven by immediate trading intent.
Bottom line: This filing shows routine equity-compensation activity — exercises and award vesting — with nearly 1,450 net shares retained from the exercise (2,435 exercised minus 988 withheld), plus 5,340 awarded shares subject to the plan terms noted in the footnotes.
Insider Transaction Report
Form 4
Allouche Danny Gilad
SVP & CSDO
Transactions
- Exercise/Conversion
Common Stock
2026-03-01$194.78/sh+466$90,767→ 22,172 total(indirect: By Trust) - Tax Payment
Common Stock
2026-03-01$194.78/sh−202$39,346→ 21,970 total(indirect: By Trust) - Exercise/Conversion
Common Stock
2026-03-01$194.78/sh+352$68,563→ 22,322 total(indirect: By Trust) - Tax Payment
Common Stock
2026-03-01$194.78/sh−142$27,659→ 22,180 total(indirect: By Trust) - Exercise/Conversion
Common Stock
2026-03-01$194.78/sh+236$45,968→ 22,416 total(indirect: By Trust) - Tax Payment
Common Stock
2026-03-01$194.78/sh−91$17,725→ 22,325 total(indirect: By Trust) - Exercise/Conversion
Common Stock
2026-03-01$194.78/sh+590$114,920→ 22,915 total(indirect: By Trust) - Tax Payment
Common Stock
2026-03-01$194.78/sh−239$46,552→ 22,676 total(indirect: By Trust) - Exercise/Conversion
Common Stock
2026-03-01$194.78/sh+791$154,071→ 23,467 total(indirect: By Trust) - Tax Payment
Common Stock
2026-03-01$194.78/sh−314$61,161→ 23,153 total(indirect: By Trust) - Award
2026 RSU Award
[F1]2026-03-01+2,183→ 2,183 totalExercise: $0.00From: 2027-03-01Exp: 2030-03-01→ Common Stock (2,183 underlying) - Award
2026 PU Award
[F2]2026-03-01+3,157→ 3,157 totalExercise: $0.00From: 2029-03-01Exp: 2029-03-01→ Common Stock (3,157 underlying) - Exercise/Conversion
2022 MSU Award
[F3]2026-03-01−466→ 0 totalExercise: $0.00From: 2023-03-01Exp: 2026-03-01→ Common Stock (466 underlying) - Exercise/Conversion
2023 MSU Award
[F4]2026-03-01−352→ 348 totalExercise: $0.00From: 2024-03-01Exp: 2027-03-01→ Common Stock (352 underlying) - Exercise/Conversion
2024 MSU Award
[F5]2026-03-01−236→ 495 totalExercise: $0.00From: 2025-03-01Exp: 2028-03-01→ Common Stock (236 underlying) - Exercise/Conversion
2025 MSU Award
[F6]2026-03-01−590→ 1,847 totalExercise: $0.00From: 2026-03-01Exp: 2029-03-01→ Common Stock (590 underlying) - Exercise/Conversion
2023 PU Award
[F7]2026-03-01−791→ 0 totalExercise: $0.00From: 2026-03-01Exp: 2026-03-01→ Common Stock (791 underlying)
Footnotes (7)
- [F1]Restricted stock units (RSUs) vest 25% on each of the first, second, third and fourth anniversaries of the grant date. Each RSU represents a contingent right to receive one share of common stock.
- [F2]Performance units (PUs) vest, at the end of fiscal year 2028, provided certain performance objectives are met as determined by the Compensation Committee in February 2029. 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 2022 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.
- [F4]Shares reflect the vesting of the third tranche of MSUs granted in March 2023 at 96% of target based on our absolute total stockholder return during the 2023-2025 performance period, plus dividend equivalents accrued during the period.
- [F5]Shares reflect the vesting of the second tranche of MSUs granted in March 2024 at 92% of target based on our absolute total stockholder return during the 2024-2025 performance period, plus dividend equivalents accrued during the period.
- [F6]Shares reflect the vesting of the first tranche of MSUs granted in March 2025 at 94% of target based on our absolute total stockholder return during the 2025 performance period, plus dividend equivalents accrued during the period.
- [F7]Shares reflect the vesting of PUs granted in March 2023 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.
Signature
/s/ Vikas Arora, attorney-in-fact for Danny Gilad Allouche|2026-03-03