Avery Dennison (NYSE: AVY) VP reports 2026 RSU and PU grants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Avery Dennison vice president and controller Santiago Divina Fe reported several equity compensation transactions. On March 1, 2026, he received a grant of 523 restricted stock units under a 2026 RSU award and 756 performance units under a 2026 PU award, both at no cash cost.
The RSUs vest in four equal annual installments, and each unit can convert into one share of common stock. The performance units may vest after fiscal year 2028 if specified performance goals are achieved, with each unit also representing a right to one share.
Multiple earlier MSU and PU awards vested based on total shareholder return and other performance measures, converting into shares of common stock. A portion of the newly issued common shares was surrendered at $194.78 per share to cover tax obligations, leaving the remaining shares held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
481 shares exercised/converted
Mixed
18 txns
Insider
Santiago Divina Fe
Role
VP Controller
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | 2026 RSU Award | 523 | $0.00 | -- |
| Grant/Award | 2026 PU Award | 756 | $0.00 | -- |
| Exercise | 2022 MSU Award | 74 | $0.00 | -- |
| Exercise | 2023 MSU Award | 58 | $0.00 | -- |
| Exercise | 2024 MSU Award | 89 | $0.00 | -- |
| Exercise | 2025 MSU Award | 130 | $0.00 | -- |
| Exercise | 2023 PU Award | 130 | $0.00 | -- |
| Exercise | Common Stock | 74 | $194.78 | $14K |
| Tax Withholding | Common Stock | 31 | $194.78 | $6K |
| Exercise | Common Stock | 58 | $194.78 | $11K |
| Tax Withholding | Common Stock | 24 | $194.78 | $5K |
| Exercise | Common Stock | 89 | $194.78 | $17K |
| Tax Withholding | Common Stock | 37 | $194.78 | $7K |
| Exercise | Common Stock | 130 | $194.78 | $25K |
| Tax Withholding | Common Stock | 54 | $194.78 | $11K |
| Exercise | Common Stock | 130 | $194.78 | $25K |
| Tax Withholding | Common Stock | 54 | $194.78 | $11K |
| holding | Common Stock (Savings Plan) | -- | -- | -- |
Holdings After Transaction:
2026 RSU Award — 523 shares (Direct);
2026 PU Award — 756 shares (Direct);
2022 MSU Award — 0 shares (Direct);
2023 MSU Award — 57 shares (Direct);
2024 MSU Award — 188 shares (Direct);
2025 MSU Award — 407 shares (Direct);
2023 PU Award — 0 shares (Direct);
Common Stock — 561 shares (Direct);
Common Stock (Savings Plan) — 377.191 shares (Indirect, Savings Plan)
Footnotes (1)
- Restricted stock units (RSUs) vest 25% on each of the first, second, third and fourth anniversaries of the grant date. Each RSU represents a contingent right to receive one share of common stock. Performance units (PUs) vest, at the end of fiscal year 2028, provided certain performance objectives are met as determined by the Compensation Committee in February 2029. Each PU represents a contingent right to receive one share of common stock. Shares reflect the vesting of the fourth tranche of MSUs granted in February 2022 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 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 the second tranche of MSUs granted in March 2024 at 92% of target based on our absolute total stockholder return during the 2024-2025 performance period, plus dividend equivalents accrued during the period. Shares reflect the vesting of the first tranche of MSUs granted in March 2025 at 94% of target based on our absolute total stockholder return during the 2025 performance period, plus dividend equivalents accrued during the period. Shares reflect the vesting of PUs granted in March 2023 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.
FAQ
What equity awards did Avery Dennison (AVY) VP Santiago Divina Fe receive?
Santiago Divina Fe received a 2026 equity package including 523 RSUs and 756 performance units, granted at no cash cost. Each unit represents a contingent right to receive one share of Avery Dennison common stock, subject to time-based or performance-based vesting conditions.
How do the new RSUs granted to Avery Dennison (AVY) VP vest?
The 2026 RSU award vests in four equal annual installments of 25% each year after the grant date. Each restricted stock unit converts into one share of Avery Dennison common stock as it vests, providing time-based incentive compensation to the executive over four years.
When can the 2026 performance units for Avery Dennison (AVY) potentially vest?
The 2026 performance units may vest at the end of fiscal 2028, if specified performance objectives are met. Final vesting levels are determined by the Compensation Committee in February 2029, with each unit delivering one share of common stock upon satisfaction of those goals.
What performance outcomes affected the vesting of Avery Dennison (AVY) MSU awards?
Vesting of the 2022–2025 MSU tranches depended on absolute total shareholder return, with tranches vesting at 92%, 96%, 92%, and 94% of target. Dividend equivalents were also added, modestly increasing the number of shares delivered under each vested tranche.
How was the 2023 performance unit award for Avery Dennison (AVY) VP determined?
The 2023 performance unit grant vested at 56% of target. This reflected a combination of 0% of target for cumulative economic value added and 112% of target for relative total shareholder return, resulting in fewer shares than the original target award.