Butier Mitchell R 4

What Happened

• Mitchell R. Butier, a director of Avery Dennison Corp (AVY), sold a total of 40,000 common shares in open-market transactions on March 5–6, 2026. The individual trades and reported weighted-average prices were:
  • 10,633 shares @ $183.86 = $1,954,946
  • 5,863 shares @ $185.01 = $1,084,724
  • 2,543 shares @ $185.95 = $472,878
  • 961 shares @ $186.51 = $179,237
  • 12,944 shares @ $179.03 = $2,317,428
  • 7,006 shares @ $179.63 = $1,258,521
  • 50 shares @ $182.15 = $9,108
  • Aggregate: 40,000 shares sold for approximately $7,276,842.
• These were sales (S) — typically regarded as routine insider selling rather than a purchase-based bullish signal.

Key Details

• Transaction dates: March 5, 2026 and March 6, 2026; Form 4 filed March 9, 2026 (timely).
• Reported proceeds: ~$7.28 million for 40,000 shares.
• Shares owned after transaction: not stated in the information provided in this summary.
• Notable footnotes:
  • F1: Sales were made automatically under a Rule 10b5-1 trading plan adopted Nov 24, 2025 (plan allows up to 113,000 shares to be sold).
  • F2–F7: Several transactions were executed in multiple trades; the filing lists weighted-average prices and provides price ranges for the component trades (ranges shown in the filing). The reporting person offers to provide full trade-by-trade details on request.
• Transaction type code: S = Sale.

Context

• Trades executed under a pre-established Rule 10b5-1 plan are typically routine and pre-scheduled, reducing the implication that the sales reflect new, nonpublic company information.
• No options were exercised, no gifts were reported, and the filing appears timely under Form 4 rules.