=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-03-11
10b5-1 Pre-arranged Plan: Yes
--- Issuer ---
Name: Avery Dennison Corp (AVY)
CIK: 0000008818
--- Reporting Owner ---
Name: Butier Mitchell R
CIK: 0001392133
Role: Director
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Common Stock
Date: 2026-03-11 | Code: S (Open market sale)
Shares: -4,123 | Price: $173.17
Total Value: $714,000.11
Shares Owned After: 227,024 | Ownership: D (Direct)
Footnotes:
[F1] 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.
[F2] Transaction executed in multiple trades at prices ranging from $172.450 - $173.435. 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.
[Transaction #2]
Security: Common Stock
Date: 2026-03-11 | Code: S (Open market sale)
Shares: -13,404 | Price: $173.98
Total Value: $2,332,068.13
Shares Owned After: 213,620 | Ownership: D (Direct)
Footnotes:
[F1] 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.
[F3] Transaction executed in multiple trades at prices ranging from $173.450 - $174.445. 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.
[Transaction #3]
Security: Common Stock
Date: 2026-03-11 | Code: S (Open market sale)
Shares: -2,473 | Price: $174.53
Total Value: $431,619.12
Shares Owned After: 211,147 | Ownership: D (Direct)
Footnotes:
[F1] 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.
[F4] Transaction executed in multiple trades at prices ranging from $174.455 - $174.720. 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.
[Transaction #4]
Security: Common Stock
Date: 2026-03-12 | Code: S (Open market sale)
Shares: -1,160 | Price: $169.71
Total Value: $196,859.42
Shares Owned After: 209,987 | Ownership: D (Direct)
Footnotes:
[F1] 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.
[F5] Transaction executed in multiple trades at prices ranging from $169.070 - $170.065. 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.
[Transaction #5]
Security: Common Stock
Date: 2026-03-12 | Code: S (Open market sale)
Shares: -4,979 | Price: $170.69
Total Value: $849,863.02
Shares Owned After: 205,008 | Ownership: D (Direct)
Footnotes:
[F1] 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.
[F6] Transaction executed in multiple trades at prices ranging from $170.135 - $171.105. 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.
[Transaction #6]
Security: Common Stock
Date: 2026-03-12 | Code: S (Open market sale)
Shares: -2,977 | Price: $171.80
Total Value: $511,457.83
Shares Owned After: 202,031 | Ownership: D (Direct)
Footnotes:
[F1] 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.
[F7] Transaction executed in multiple trades at prices ranging from $171.190 - $172.1707. 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.
[Transaction #7]
Security: Common Stock
Date: 2026-03-12 | Code: S (Open market sale)
Shares: -3,027 | Price: $172.66
Total Value: $522,653.32
Shares Owned After: 199,004 | Ownership: D (Direct)
Footnotes:
[F1] 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.
[F8] Transaction executed in multiple trades at prices ranging from $172.200- $173.1946. 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.
[Transaction #8]
Security: Common Stock
Date: 2026-03-12 | Code: S (Open market sale)
Shares: -857 | Price: $173.50
Total Value: $148,687.79
Shares Owned After: 198,147 | Ownership: D (Direct)
Footnotes:
[F1] 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.
[F9] Transaction executed in multiple trades at prices ranging from $173.210 - $173.9214. 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.
--- Holdings ---
[Holding #1]
Security: Common Stock (Savings Plan)
Ownership: I (Indirect)
--- Footnotes (Complete Index) ---
F1: 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.
F2: Transaction executed in multiple trades at prices ranging from $172.450 - $173.435. 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.
F3: Transaction executed in multiple trades at prices ranging from $173.450 - $174.445. 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.
F4: Transaction executed in multiple trades at prices ranging from $174.455 - $174.720. 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.
F5: Transaction executed in multiple trades at prices ranging from $169.070 - $170.065. 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.
F6: Transaction executed in multiple trades at prices ranging from $170.135 - $171.105. 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.
F7: Transaction executed in multiple trades at prices ranging from $171.190 - $172.1707. 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.
F8: Transaction executed in multiple trades at prices ranging from $172.200- $173.1946. 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.
F9: Transaction executed in multiple trades at prices ranging from $173.210 - $173.9214. 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.
--- Signature ---
/s/ /s/ Vikas Arora attorney-in-fact for Mitchell R Butier (2026-03-13)
