Avery Dennison (AVY) Form 3 Avery Dennison / Danny Gilad Allouche ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:	3235-0104
Estimated average burden
hours per response:	0.5

1. Name and Address of Reporting Person^*

Allouche Danny Gilad

(Last) (First) (Middle)

8080 NORTON PKWY

(Street)

MENTOR OH 44060

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/15/2024

3. Issuer Name and Ticker or Trading Symbol
Avery Dennison Corp [ AVY ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
SVP, CSDO & Interim CFO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	18,605	I	Trust

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
2021 MSU Award	03/01/2022	03/01/2025	Common Stock	277(1)	0	D
2022 MSU Award	03/01/2023	03/01/2026	Common Stock	946(1)	0	D
2022 PU Award	03/01/2025	03/01/2025	Common Stock	1,519(2)	0	D
2023 MSU Award	03/01/2024	03/01/2027	Common Stock	1,044(1)	0	D
2023 PU Award	03/01/2026	03/01/2026	Common Stock	1,434(3)	0	D
2023 RSU Award	04/01/2025	04/01/2025	Common Stock	3,292(4)	0	D
2024 MSU Award	03/01/2025	03/01/2028	Common Stock	989(1)	0	D
2024 PU Award	03/01/2027	03/01/2027	Common Stock	1,129(5)	0	D

Explanation of Responses:

1. Market-leveraged stock units (MSUs) vest 25% over one-, two-, three- and four-year performance periods, with the number of shares paid on each vesting date based on our absolute total stockholder return. Each MSU represents a contingent right to receive one share of common stock, plus dividend equivalents accrued during the vesting period.

2. Performance units (PUs) vest, at the end of fiscal year 2024, provided certain performance objectives are met as determined by the Compensation Committee in February 2025. Each PU represents a contingent right to receive one share of common stock.

3. Performance units (PUs) vest, at the end of fiscal year 2025, provided certain performance objectives are met as determined by the Compensation Committee in February 2026. Each PU represents a contingent right to receive one share of common stock.

4. Restricted stock units (RSUs) cliff vest on April 1, 2025. Each RSU represents a contingent right to receive one share of common stock.

5. Performance units (PUs) vest, at the end of fiscal year 2026, provided certain performance objectives are met as determined by the Compensation Committee in February 2027. Each PU represents a contingent right to receive one share of common stock.

	/s/ Vikas Arora, attorney-in-fact for Danny Gilad Allouche	11/21/2024
	** 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 5 (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.