Avery Dennison (NYSE: AVY) director exercises 1,087 RSUs and receives 2026 award

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Avery Dennison Corp director William Raymond Wagner reported equity compensation moves rather than open-market trading. On May 1, 2026, he exercised 1,087 restricted stock units into common stock at $164.01 per share, bringing his direct common stock holdings to 3,412 shares. The same day, his 2025 director RSU award for 1,087 units was fully converted, and he received a new 2026 director RSU award for 1,128 units that cliff-vest on the first anniversary of the grant. Each RSU represents a contingent right to receive one share of common stock, highlighting routine, compensation-linked changes rather than discretionary buying or selling.

Insider Trade Summary

1,087 shares exercised/converted

Mixed 3 txns

Insider Wagner William Raymond

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

Holdings After Transaction: 2026 Director RSU Award — 1,128 shares (Direct, null); 2025 Director RSU Award — 0 shares (Direct, null); Common Stock — 3,412 shares (Direct, null)

Footnotes (1)

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Key Figures

RSUs exercised: 1,087 shares Exercise reference price: $164.01 per share Shares held after transactions: 3,412 shares +3 more

6 metrics

RSUs exercised 1,087 shares Director RSU exercise into common stock on May 1, 2026

Exercise reference price $164.01 per share Recorded price for 1,087 common shares on May 1, 2026

Shares held after transactions 3,412 shares Total direct common stock holdings following RSU conversion

2026 director RSU award 1,128 units New RSU grant on May 1, 2026, cliff-vesting after one year

2026 RSU vesting/exercise date May 1, 2027 Scheduled vesting and expiration for 2026 director RSU award

2025 RSU award converted 1,087 units 2025 director RSUs fully converted into common stock on May 1, 2026

Key Terms

Restricted stock units (RSUs), cliff-vest, contingent right, derivative security

4 terms

Restricted stock units (RSUs) financial

"Restricted stock units (RSUs) cliff-vest on the first anniversary"

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"

contingent right financial

"Each RSU represents a contingent right to receive one share"

derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Form 4 Insider Transactions: What Each Field Means →

05/04/2026 - 05:45 PM

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^*

Wagner William Raymond

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/01/2026		M		1,087	A	$164.01	3,412	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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 for William R. Wagner	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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Avery Dennison (AVY) director William Raymond Wagner report?

William Raymond Wagner reported compensation-related equity activity, not market trades. He exercised 1,087 director RSUs into common stock and received a new 2026 director RSU award for 1,128 units, all held directly as part of his board compensation structure.

Did the Avery Dennison (AVY) director buy or sell shares on the open market?

The filing shows no open-market buying or selling. Instead, Wagner exercised 1,087 restricted stock units into common stock and received a new 1,128-unit RSU grant, reflecting routine director compensation rather than discretionary purchases or sales in the market.

How many Avery Dennison (AVY) shares does the director hold after these transactions?

After exercising 1,087 restricted stock units, Wagner directly holds 3,412 shares of Avery Dennison common stock. He also holds a separate 2026 director RSU award of 1,128 units, which will cliff-vest after one year, each unit representing a right to one future share.

What is the value reference for the Avery Dennison (AVY) RSU exercise?

The non-derivative entry records the 1,087 common shares at $164.01 per share. This figure reflects the reference price associated with the RSU conversion on May 1, 2026, tying the compensation event to the company’s share price on that transaction date.

How do Avery Dennison (AVY) director RSUs vest according to this filing?

The footnote states director restricted stock units cliff-vest on the first anniversary of the grant. Each RSU represents a contingent right to receive one share of common stock, so vesting converts the award into deliverable shares if the director remains eligible.