Yost Ryan D 4

What Happened

• Ryan D. Yost, President, Materials Group at Avery Dennison (AVY), executed a series of derivative transactions on 2026-03-01. He exercised/converted options or other derivative awards resulting in the acquisition of 1,787 shares at an exercise price of $194.78 per share (total cash/consideration ≈ $348,072).
• Simultaneously, 512 shares were disposed of (withheld) to satisfy exercise/tax withholding obligations (proceeds/consideration ≈ $99,728). In addition, Yost was credited with 5,728 derivative awards (grants/vested units) recorded at $0.00 (2,342 and 3,386 shares — MSUs/RSUs/PUs as described in the filing footnotes).

Key Details

• Transaction date(s): 2026-03-01; Form 4 filed 2026-03-03 (no late-filing flag shown).
• Exercise transactions (M) at $194.78: 167, 222, 434, 714 and 250 shares (total acquired = 1,787; total cash ≈ $348,072).
• Tax withholding/dispositions (F) at $194.78: 55, 73, 119, 196 and 69 shares (total withheld = 512; total ≈ $99,728).
• Grants/awards (A) recorded: 2,342 and 3,386 derivative units (total 5,728) recorded at $0.00 — these reflect vested MSUs/PUs/RSUs per footnotes.
• Zero-dollar “exercise/conversion” entries (M, $0.00) correspond to conversion/settlement of derivative awards (matching share counts above) as recorded in the filing.
• Shares owned after the transactions are not specified in the supplied data.

Context

• The filing shows an option/derivative exercise with shares withheld to cover tax obligations — a routine net-share settlement (not an open-market sale). That pattern is common when executives exercise options or when performance/RSU awards vest.
• Footnotes explain vesting/results: RSUs vest 25% annually (F1); certain performance units vest at future dates subject to performance (F2); several MSU tranches and PUs vested/paid at various percentages (F3–F7), with specific achievement percentages noted in the filing.
• This is a disclosure of insider activity; it is factual reporting of exercises, withholdings, and awards and should not be interpreted as a recommendation or statement of intent.