Allouche Danny Gilad 4

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.