Butier sells 40,000 Avery Dennison (NYSE: AVY) shares in 10b5-1 plan

Rhea-AI Filing Summary

Avery Dennison Corp director Mitchell R. Butier reported open-market sales of 40,000 shares of Common Stock on March 9–10, 2026. The sales were executed in multiple trades at weighted-average prices in ranges disclosed in the filing.

The transactions occurred automatically under a Rule 10b5-1 trading plan adopted on November 24, 2025, which allows potential total sales of up to 113,000 shares. Following these trades, Butier directly holds 231,147 common shares and indirectly holds 4,312.4948 shares through a savings plan.

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

X

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^*

Butier Mitchell R

(Last) (First) (Middle)

8080 NORTON PARKWAY

(Street)

MENTOR OH 44060

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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

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

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

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	03/09/2026		S		4,365(1)	D	$174.9719(2)	266,782	D
Common Stock	03/09/2026		S		9,035(1)	D	$175.7592(3)	257,747	D
Common Stock	03/09/2026		S		6,225(1)	D	$176.9235(4)	251,522	D
Common Stock	03/09/2026		S		375(1)	D	$177.5809(5)	251,147	D
Common Stock	03/10/2026		S		4,699(1)	D	$174.5182(6)	246,448	D
Common Stock	03/10/2026		S		6,424(1)	D	$175.2557(7)	240,024	D
Common Stock	03/10/2026		S		7,283(1)	D	$176.3825(8)	232,741	D
Common Stock	03/10/2026		S		1,594(1)	D	$176.9776(9)	231,147	D
Common Stock (Savings Plan)								4,312.4948	I	Savings Plan

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

Explanation of Responses:

1. The reported sale of shares occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 24, 2025, which provides for the potential total sale of up to 113,000 shares.

2. Transaction executed in multiple trades at prices ranging from $174.375 - $175.350. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

3. Transaction executed in multiple trades at prices ranging from $175.440 - $176.4056. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

4. Transaction executed in multiple trades at prices ranging from $176.440 - $177.4098. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

5. Transaction executed in multiple trades at prices ranging from $177.450 - $177.680. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

6. Transaction executed in multiple trades at prices ranging from $173.835 - $174.830. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

7. Transaction executed in multiple trades at prices ranging from $174.840 - $175.830. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

8. Transaction executed in multiple trades at prices ranging from $175.840 - $176.830. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

9. Transaction executed in multiple trades at prices ranging from $176.840- $177.185. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer, or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

	/s/ Vikas Arora attorney-in-fact for Mitchell R Butier	03/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Avery Dennison (AVY) report for Mitchell R. Butier?

Avery Dennison reported that director Mitchell R. Butier sold 40,000 shares of Common Stock in open-market transactions on March 9–10, 2026. The filing groups these into eight trades at weighted-average prices within specified ranges disclosed in the accompanying footnotes.

At what prices did Mitchell R. Butier sell Avery Dennison (AVY) shares?

The sales were executed in multiple trades at weighted-average prices, with ranges noted in several footnotes. These ranges span from about $173.835 to $177.680 per share, with each tranche’s exact weighted-average price and range detailed in the individual transaction footnotes.

How many Avery Dennison (AVY) shares does Mitchell R. Butier hold after the reported sales?

After the reported transactions, Mitchell R. Butier directly owns 231,147 Avery Dennison common shares. He also holds an additional 4,312.4948 shares indirectly through a savings plan, as shown in the holding entry dated March 9, 2026 in the Form 4.

Were the recent Avery Dennison (AVY) insider sales by Mitchell R. Butier pre-planned?

Yes. The filing states the reported sales occurred automatically under a Rule 10b5-1 trading plan adopted on November 24, 2025. Such plans pre-schedule transactions, which can make the timing less indicative of the insider’s short-term view of the stock.

What is the total size of Mitchell R. Butier’s planned Avery Dennison (AVY) share sales?

The Rule 10b5-1 trading plan cited in the filing provides for potential total sales of up to 113,000 Avery Dennison shares. The 40,000 shares sold on March 9–10, 2026 represent a portion of this pre-authorized amount under the plan.

Does the Avery Dennison (AVY) Form 4 show any option exercises or gifts by Mitchell R. Butier?

No. The transaction summary shows eight open-market sales totaling 40,000 shares and one holding entry for a savings plan. It lists zero derivative exercises, gifts, tax withholdings, or restructuring transactions for this reporting period in the Form 4 data.