Avery Dennison director exercises 1,087 RSUs

Avery Dennison Corp director Andres Alberto Lopez reported equity compensation activity in company stock.

Rhea-AI Filing Summary

Avery Dennison Corp director Andres Alberto Lopez reported equity compensation activity in company stock. On May 1, 2026, he exercised a 2025 Director RSU award into 1,087 shares of common stock, bringing his direct common stock holdings to 5,147 shares.

He also received a new 2026 Director RSU award for 1,128 restricted stock units, which, per the plan, cliff-vest on the first anniversary of the grant date, with each RSU delivering one share of common stock. In addition, he holds deferred stock units tied to 1,891.2084 underlying common shares under the DDECP.

Insider Trade Summary

1,087 shares exercised/converted

Exercise 4 txns

Insider Lopez Andres Alberto

Role Director

Type	Security	Shares	Price	Value
Grant/Award	2026 Director RSU Award	1,128	$0.00	$0.00
Exercise	2025 Director RSU Award	1,087	$0.00	$0.00
Exercise	Common Stock	1,087	$164.01	$178K
holding	Deferred Stock Units - DDECP	--	--	--

Holdings After Transaction: 2026 Director RSU Award — 1,128 contracts (Direct); 2025 Director RSU Award — 0 contracts (Direct); Common Stock — 5,147 shares (Direct); Deferred Stock Units - DDECP — 1,891.2084 contracts (Direct)

Footnotes (1)

1. F1. 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.

Key Figures

RSUs exercised: 1,087 shares Exercise transaction price: $164.01 per share Shares held after exercise: 5,147 shares +3 more

6 metrics

RSUs exercised 1,087 shares 2025 Director RSU Award exercised on May 1, 2026

Exercise transaction price $164.01 per share Value shown for 1,087 common shares received

Shares held after exercise 5,147 shares Total Avery Dennison common stock held directly post-transaction

2026 Director RSU award 1,128 units New RSU grant vesting on first anniversary of May 1, 2026

Deferred stock units underlying shares 1,891.2084 shares Deferred Stock Units - DDECP tied to common stock

Derivative exercises in filing 1 exercise, 1,087 shares Exercise or conversion of derivative security (code M)

Key Terms

Deferred Stock Units - DDECP, restricted stock units (RSUs), cliff-vest, grant, award, or other acquisition, +1 more

5 terms

Deferred Stock Units - DDECP financial

"security_title: "Deferred Stock Units - DDECP" with 1,891.2084 underlying shares"

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

"RSUs cliff-vest on the first anniversary of the grant date."

grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition" for the 2026 Director RSU Award"

derivative exercise/conversion financial

"transaction_action: "derivative exercise/conversion" for the 2025 Director RSU Award"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Avery Dennison (AVY) director Andres Alberto Lopez report in this Form 4?

Director Andres Alberto Lopez reported equity compensation activity, including exercising a 2025 director RSU award for 1,087 Avery Dennison common shares and receiving a new 2026 director RSU grant of 1,128 restricted stock units, all as direct holdings on May 1, 2026.

How many Avery Dennison (AVY) shares does Andres Alberto Lopez hold after the transactions?

After exercising 1,087 restricted stock units into common stock, Andres Alberto Lopez directly holds 5,147 Avery Dennison common shares. He also has additional exposure through deferred stock units linked to 1,891.2084 underlying common shares under the company’s deferred compensation plan.

What is the size of the new 2026 director RSU award for Avery Dennison (AVY)?

The new 2026 director restricted stock unit (RSU) award for Andres Alberto Lopez covers 1,128 units. Each RSU represents a contingent right to receive one Avery Dennison common share, with the award scheduled to cliff-vest on the first anniversary of the May 1, 2026 grant date.

At what price were Avery Dennison (AVY) shares associated with the RSU exercise valued?

The 1,087 Avery Dennison common shares received from exercising the 2025 director RSU award are shown at a transaction price of $164.01 per share. This reflects the value used in the Form 4, even though the RSUs themselves had a $0.00 exercise price.

What deferred stock units does Andres Alberto Lopez hold in Avery Dennison (AVY)?

Andres Alberto Lopez holds deferred stock units under the DDECP tied to 1,891.2084 underlying Avery Dennison common shares. These deferred units represent a non-cash, stock-based compensation balance that tracks the value of the company’s common stock over time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/04/2026 - 05:37 PM EDT Learn about SEC filing dates

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^*

Lopez Andres Alberto

(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	5,147	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
Deferred Stock Units - DDECP	$0							08/08/1988	08/08/1988	Common Stock	1,891.2084		1,891.2084	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 Andres Alberto Lopez	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)