Equity awards vest for Avery Dennison (AVY) director Mitchell Butier
Rhea-AI Filing Summary
Avery Dennison Corp director Mitchell R. Butier reported equity award vesting and related share transactions. On March 1, 2026, he acquired common stock through exercises of 2022 and 2023 market-leveraged stock unit (MSU) awards and a 2023 performance unit (PU) award, all at a stated price of $194.78 per share for the common stock entries.
The 2022 MSUs vested at 92% of target based on absolute total stockholder return during the 2022–2025 period, while 2023 MSUs vested at 96% of target. The 2023 PUs vested at 56% of target, reflecting a mix of economic value added and relative total stockholder return results, with all awards including accrued dividend equivalents.
To cover tax obligations and related amounts, Butier disposed of portions of the newly delivered common shares via transactions coded “F,” which represent payment of tax liability by delivering securities, rather than open‑market sales. After these transactions, he directly held 311,147 common shares and indirectly held 4,312.4948 shares through a savings plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2022 MSU Award | 5,079 | $0.00 | -- |
| Exercise | 2023 MSU Award | 4,302 | $0.00 | -- |
| Exercise | 2023 PU Award | 9,645 | $0.00 | -- |
| Exercise | Common Stock | 5,079 | $194.78 | $989K |
| Tax Withholding | Common Stock | 3,029 | $194.78 | $590K |
| Exercise | Common Stock | 4,302 | $194.78 | $838K |
| Tax Withholding | Common Stock | 2,524 | $194.78 | $492K |
| Exercise | Common Stock | 9,645 | $194.78 | $1.88M |
| Tax Withholding | Common Stock | 5,657 | $194.78 | $1.10M |
| holding | Common Stock (Savings Plan) | -- | -- | -- |
Footnotes (1)
- Shares reflect the vesting of the fourth tranche of MSUs granted in February 2022 that remained eligible to vest after the reporting person's transition to non-executive status in April 2025, 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. Shares reflect the vesting of the third tranche of MSUs granted in March 2023 that remained eligible to vest after the reporting person's transition to non-executive status in April 2025, at 96% of target based on our absolute total stockholder return during the 2023-2025 performance period, plus dividend equivalents accrued during the period. Shares reflect the vesting of PUs granted in March 2023 that remained eligible to vest after the reporting person's transition to non-executive status in April 2025, 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.
