=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-03-09
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: 2026-03-09 | Code: S (Open market sale)
Shares: -4,365 | Price: $174.97
Total Value: $763,752.34
Shares Owned After: 266,782 | 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 $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.
[Transaction #2]
Security: Common Stock
Date: 2026-03-09 | Code: S (Open market sale)
Shares: -9,035 | Price: $175.76
Total Value: $1,587,984.37
Shares Owned After: 257,747 | 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 $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.
[Transaction #3]
Security: Common Stock
Date: 2026-03-09 | Code: S (Open market sale)
Shares: -6,225 | Price: $176.92
Total Value: $1,101,348.79
Shares Owned After: 251,522 | 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 $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.
[Transaction #4]
Security: Common Stock
Date: 2026-03-09 | Code: S (Open market sale)
Shares: -375 | Price: $177.58
Total Value: $66,592.84
Shares Owned After: 251,147 | 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.
[F5] 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.
[Transaction #5]
Security: Common Stock
Date: 2026-03-10 | Code: S (Open market sale)
Shares: -4,699 | Price: $174.52
Total Value: $820,061.02
Shares Owned After: 246,448 | 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 $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.
[Transaction #6]
Security: Common Stock
Date: 2026-03-10 | Code: S (Open market sale)
Shares: -6,424 | Price: $175.26
Total Value: $1,125,842.62
Shares Owned After: 240,024 | 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.
[F7] 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.
[Transaction #7]
Security: Common Stock
Date: 2026-03-10 | Code: S (Open market sale)
Shares: -7,283 | Price: $176.38
Total Value: $1,284,593.75
Shares Owned After: 232,741 | 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 $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.
[Transaction #8]
Security: Common Stock
Date: 2026-03-10 | Code: S (Open market sale)
Shares: -1,594 | Price: $176.98
Total Value: $282,102.29
Shares Owned After: 231,147 | 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 $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.
--- 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 $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.
F3: 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.
F4: 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.
F5: 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.
F6: 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.
F7: 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.
F8: 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.
F9: 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.
--- Signature ---
/s/ /s/ Vikas Arora attorney-in-fact for Mitchell R Butier (2026-03-11)
