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Avery Dennison Corp·4

Mar 3, 4:34 PM ET

Santiago Divina Fe 4

4 · Avery Dennison Corp · Filed Mar 3, 2026

Research Summary

AI-generated summary of this filing

Updated

Avery Dennison (AVY) VP Controller Exercises Options, Receives Awards

What Happened
Santiago Divina Fe, VP Controller of Avery Dennison (AVY), exercised/converted derivatives on 2026-03-01 and acquired 481 shares by paying an exercise price of $194.78 per share (total cash outlay $93,688). To cover tax withholding, 200 shares were surrendered (sell‑to‑cover) valued at about $38,956. In addition, 1,279 shares were recorded as awards/vested performance/market‑stock units (523 and 756 shares) with no cash payment required.

Key Details

  • Transaction date: March 1, 2026; Form 4 filed March 3, 2026 (timely filing).
  • Exercise price for cash exercises: $194.78 per share. Cash paid for exercised shares: $93,688 (481 shares).
  • Shares withheld to cover taxes (code F): 200 shares, ~$38,956.
  • Awards/grants recorded (code A): 523 and 756 derivative shares (total 1,279) reported at $0 (vested/awarded).
  • Some derivative conversion lines reported at $0 reflect settlement/vesting of performance/MSU/PUs rather than a cash purchase.
  • Shares owned after these transactions: not specified in the provided excerpt.
  • Transaction codes: M = option/derivative exercise or conversion; F = shares withheld for taxes; A = grant/award.
  • Footnotes indicate these awards include multiple tranches of MSUs and PUs that vested at partial payout levels (see F3–F7) and standard RSU/PU vesting rules (F1–F2).

Context
This filing shows routine option exercises combined with vesting of performance/market‑stock units and share withholding to satisfy tax obligations (a "sell‑to‑cover" or share surrender). The material here is mainly vesting/settlement activity rather than an open‑market buy or sale; such activity commonly reflects compensation mechanics rather than an insider trading signal.

Insider Transaction Report

Form 4
Period: 2026-03-01
Avery Dennison CorpAVY
Santiago Divina Fe
VP Controller
Transactions
  • Exercise/Conversion

    Common Stock

    2026-03-01$194.78/sh+89$17,335→ 653 total
  • Tax Payment

    Common Stock

    2026-03-01$194.78/sh−37$7,207→ 616 total
  • Exercise/Conversion

    Common Stock

    2026-03-01$194.78/sh+74$14,414→ 561 total
  • Tax Payment

    Common Stock

    2026-03-01$194.78/sh−31$6,038→ 530 total
  • Exercise/Conversion

    Common Stock

    2026-03-01$194.78/sh+58$11,297→ 588 total
  • Tax Payment

    Common Stock

    2026-03-01$194.78/sh−24$4,675→ 564 total
  • Exercise/Conversion

    Common Stock

    2026-03-01$194.78/sh+130$25,321→ 746 total
  • Tax Payment

    Common Stock

    2026-03-01$194.78/sh−54$10,518→ 692 total
  • Exercise/Conversion

    Common Stock

    2026-03-01$194.78/sh+130$25,321→ 822 total
  • Tax Payment

    Common Stock

    2026-03-01$194.78/sh−54$10,518→ 768 total
  • Award

    2026 RSU Award

    [F1]
    2026-03-01+523→ 523 total
    Exercise: $0.00From: 2027-03-01Exp: 2030-03-01→ Common Stock (523 underlying)
  • Award

    2026 PU Award

    [F2]
    2026-03-01+756→ 756 total
    Exercise: $0.00From: 2029-03-01Exp: 2029-03-01→ Common Stock (756 underlying)
  • Exercise/Conversion

    2022 MSU Award

    [F3]
    2026-03-01−74→ 0 total
    Exercise: $0.00From: 2023-03-01Exp: 2026-03-01→ Common Stock (74 underlying)
  • Exercise/Conversion

    2023 MSU Award

    [F4]
    2026-03-01−58→ 57 total
    Exercise: $0.00From: 2024-03-01Exp: 2027-03-01→ Common Stock (58 underlying)
  • Exercise/Conversion

    2024 MSU Award

    [F5]
    2026-03-01−89→ 188 total
    Exercise: $0.00From: 2025-03-01Exp: 2028-03-01→ Common Stock (89 underlying)
  • Exercise/Conversion

    2025 MSU Award

    [F6]
    2026-03-01−130→ 407 total
    Exercise: $0.00From: 2026-03-01Exp: 2029-03-01→ Common Stock (130 underlying)
  • Exercise/Conversion

    2023 PU Award

    [F7]
    2026-03-01−130→ 0 total
    Exercise: $0.00From: 2026-03-01Exp: 2026-03-01→ Common Stock (130 underlying)
Holdings

  • Common Stock (Savings Plan)

    (indirect: Savings Plan)
    377.191
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 Divina Santiago|2026-03-03

Documents

1 file
  • 4
    form4.xmlPrimary

    PRIMARY DOCUMENT