=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-03-05
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: 2026-03-05 | Code: S (Open market sale)
Shares: -10,633 | Price: $183.86
Total Value: $1,954,946.16
Shares Owned After: 300,514 | 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 $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.
[Transaction #2]
Security: Common Stock
Date: 2026-03-05 | Code: S (Open market sale)
Shares: -5,863 | Price: $185.01
Total Value: $1,084,723.60
Shares Owned After: 294,651 | 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 $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.
[Transaction #3]
Security: Common Stock
Date: 2026-03-05 | Code: S (Open market sale)
Shares: -2,543 | Price: $185.95
Total Value: $472,877.97
Shares Owned After: 292,108 | 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 $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.
[Transaction #4]
Security: Common Stock
Date: 2026-03-05 | Code: S (Open market sale)
Shares: -961 | Price: $186.51
Total Value: $179,237.07
Shares Owned After: 291,147 | 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 $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.
[Transaction #5]
Security: Common Stock
Date: 2026-03-06 | Code: S (Open market sale)
Shares: -12,944 | Price: $179.03
Total Value: $2,317,427.75
Shares Owned After: 278,203 | 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 $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.
[Transaction #6]
Security: Common Stock
Date: 2026-03-06 | Code: S (Open market sale)
Shares: -7,006 | Price: $179.63
Total Value: $1,258,520.71
Shares Owned After: 271,197 | 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 $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.
[Transaction #7]
Security: Common Stock
Date: 2026-03-06 | Code: S (Open market sale)
Shares: -50 | Price: $182.15
Total Value: $9,107.50
Shares Owned After: 271,147 | 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.
--- 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 $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.
F3: 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.
F4: 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.
F5: 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.
F6: 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.
F7: 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.
--- Signature ---
/s/ /s/ Vikas Arora attorney-in-fact for Mitchell R Butier (2026-03-09)
