Avery Dennison (AVY) director exercises RSUs, gets 1,128-unit 2026 award

Rhea-AI Filing Summary

Avery Dennison director Francesca Reverberi reported routine equity compensation activity. She exercised 1,087 restricted stock units into common shares and had 327 shares withheld at $164.01 per share to cover tax obligations. Following these transactions, she directly owns 2,464 common shares.

Reverberi also received a 2026 director RSU award covering 1,128 units, which each represent a contingent right to receive one share of common stock. These RSUs cliff-vest on the first anniversary of the grant date, adding to her long-term, stock-based compensation.

Insider Trade Summary

1,087 shares exercised/converted

Mixed 4 txns

Insider Reverberi Francesca

Role null

Type	Security	Shares	Price	Value
Grant/Award	2026 Director RSU Award	1,128	$0.00	--
Exercise	2025 Director RSU Award	1,087	$0.00	--
Exercise	Common Stock	1,087	$164.01	$178K
Tax Withholding	Common Stock	327	$164.01	$54K

Holdings After Transaction: 2026 Director RSU Award — 1,128 shares (Direct, null); 2025 Director RSU Award — 0 shares (Direct, null); Common Stock — 2,464 shares (Direct, null)

Footnotes (1)

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Key Figures

RSUs exercised: 1,087 shares Tax-withholding shares: 327 shares Share price for withholding: $164.01 per share +2 more

5 metrics

RSUs exercised 1,087 shares Director RSU award converted to common stock on 2026-05-01

Tax-withholding shares 327 shares Shares withheld at $164.01 per share to cover taxes

Share price for withholding $164.01 per share Value used for 327-share tax-withholding disposition

Common shares owned after 2,464 shares Total direct common stock holdings after transactions

2026 director RSU award 1,128 units New RSU grant cliff-vesting on first anniversary of grant

Key Terms

restricted stock units (RSUs), cliff-vest, tax-withholding disposition, derivative exercise/conversion, +1 more

5 terms

restricted stock units (RSUs) financial

"Restricted stock units (RSUs) cliff-vest on the first anniversary of the grant date."

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

cliff-vest financial

"Restricted stock units (RSUs) cliff-vest on the first anniversary of the grant date."

tax-withholding disposition financial

"transaction_action": "tax-withholding disposition""

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Reverberi Francesca

(Last) (First) (Middle)

8080 NORTON PARKWAY

(Street)

MENTOR OHIO 44060

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Avery Dennison Corp [ AVY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/01/2026		M		1,087	A	$164.01	2,464	D
Common Stock	05/01/2026		F		327	D	$164.01	2,137	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
2026 Director RSU Award	$0	05/01/2026		A		1,128		05/01/2027(1)	05/01/2027	Common Stock	1,128	$0	1,128	D
2025 Director RSU Award	$0	05/01/2026		M			1,087	05/01/2026	05/01/2026	Common Stock	1,087	$0	0	D

Explanation of Responses:

1. Restricted stock units (RSUs) cliff-vest on the first anniversary of the grant date. Each RSU represents a contingent right to receive one share of common stock.

	/s/ Vikas Arora, attorney-in-fact for Francesca Reverberi	05/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)