Avery Dennison (NYSE: AVY) director sells 40,000 shares under 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 in multiple transactions on March 5–6, 2026. The shares were sold at weighted average prices ranging from about $179 to $186 per share.

The filing notes these sales occurred automatically under a Rule 10b5-1 trading plan adopted on November 24, 2025, which provides for the potential total sale of up to 113,000 shares. Following these transactions, Butier directly holds 271,147 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)
03/05/2026

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	03/05/2026		S		10,633(1)	D	$183.8565(2)	300,514	D
Common Stock	03/05/2026		S		5,863(1)	D	$185.0117(3)	294,651	D
Common Stock	03/05/2026		S		2,543(1)	D	$185.9528(4)	292,108	D
Common Stock	03/05/2026		S		961(1)	D	$186.511(5)	291,147	D
Common Stock	03/06/2026		S		12,944(1)	D	$179.0349(6)	278,203	D
Common Stock	03/06/2026		S		7,006(1)	D	$179.6347(7)	271,197	D
Common Stock	03/06/2026		S		50(1)	D	$182.15	271,147	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 $183.355 - $184.345. 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 $184.4141 - $185.3998. 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 $185.4175 - $186.4158. 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 $186.4247 - $186.7251. 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 $178.395 - $179.380. 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 $179.410 - $180.080. 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	03/09/2026
	** 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.
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FAQ

What did Avery Dennison (AVY) disclose in this Form 4 filing?

Avery Dennison reported that director Mitchell R. Butier sold 40,000 common shares in open-market transactions on March 5–6, 2026. The trades were executed under a pre-established Rule 10b5-1 trading plan adopted on November 24, 2025.

How many Avery Dennison (AVY) shares did Mitchell R. Butier sell and at what prices?

Mitchell R. Butier sold 40,000 Avery Dennison common shares over two days. The reported weighted average sale prices ranged from roughly $179 to $186 per share, with individual trades executed within specified price ranges detailed in the transaction footnotes.

What is the size of the Rule 10b5-1 plan mentioned for Avery Dennison (AVY)?

The Form 4 states that the reported sales occurred automatically under a Rule 10b5-1 trading plan adopted on November 24, 2025. This plan provides for the potential total sale of up to 113,000 Avery Dennison common shares by the reporting person.

How many Avery Dennison (AVY) shares does Mitchell R. Butier own after these transactions?

After the reported sales, Mitchell R. Butier directly owns 271,147 Avery Dennison common shares. In addition, he indirectly holds 4,312.4948 shares through a savings plan, as reflected in the indirect ownership line of the Form 4 filing.

Were the Avery Dennison (AVY) insider sales discretionary or pre-planned?

The filing explains that the reported sales occurred automatically under a Rule 10b5-1 trading plan. Such plans allow insiders to pre-arrange trades, with execution occurring according to predetermined instructions rather than discretionary decisions at the time of each sale.

How many separate sale transactions did Avery Dennison (AVY) report for Mitchell R. Butier?

The Form 4 lists seven separate open-market sale transactions in Avery Dennison common stock and one additional line updating holdings in a savings plan. All sale transactions were coded as “S”, indicating open-market or private sale transactions.