SEC Form 4 · accession 0001127602-15-009141
Avery Dennison Corp · AVY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dean A Scarborough
Officer — Chairman and CEO
Period of report
Feb 26, 2015
Accepted (ET)
Mar 2, 2015 · 5:23 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000008818
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Feb 26, 2015 | M | 19,111 | $54.26 | A | 117,354 | D | |
| Common Stock | Feb 26, 2015 | F | 9,973 | $54.26 | D | 107,381 | D | |
| Common Stock | Feb 26, 2015 | M | 13,207 | $54.26 | A | 120,588 | D | |
| Common Stock | Feb 26, 2015 | F | 6,154 | $54.26 | D | 114,434 | D | |
| Common Stock | Feb 26, 2015 | M | 64,936 | $54.26 | A | 179,370 | D | |
| Common Stock | Feb 26, 2015 | F | 33,884 | $54.26 | D | 145,486 | D | |
| Common Stock | holding | — | — | — | 20 | I | By Son | |
| Common Stock | holding | — | — | — | 148 | I | Owned By Spouse | |
| Common Stock (savings Plan) | holding | — | — | — | 38,499 | I | Savings Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 Msu AwardF1 | $0.00 | Feb 26, 2015 | M | 19,111 | D | Feb 27, 2014 | Mar 1, 2017 | Common Stock | 19,111 | 16,229 | D |
| 2014 Msu AwardF2 | $0.00 | Feb 26, 2015 | M | 13,207 | D | Feb 26, 2015 | Feb 27, 2018 | Common Stock | 13,207 | 82,035 | D |
| 2012 PU AwardF3 | $0.00 | Feb 26, 2015 | M | 64,936 | D | Feb 26, 2015 | Feb 26, 2015 | Common Stock | 64,936 | 0 | D |
| 2015 PU AwardF4 | $0.00 | Feb 26, 2015 | A | 47,254 | A | Feb 26, 2018 | Feb 26, 2018 | Common Stock | 47,254 | 47,254 | D |
| 2015 MSU AwardF5 | $0.00 | Feb 26, 2015 | A | 50,887 | A | Feb 26, 2016 | Feb 26, 2019 | Common Stock | 50,887 | 50,887 | D |
| Common Stock Units | $0.00 | holding | — | — | — | Aug 8, 1988 | Aug 8, 1988 | Common Stock | 3,108 | 3,108 | I |
Explanation of responses
- F1Shares reflect the vesting of the second tranche of market leveraged stock units granted in February 2013 at 154% of target based on our absolute total shareholder return during 2013-2014, plus dividend equivalents accrued during the period.
- F2Shares reflect the vesting of the first tranche of market leveraged stock units granted in February 2014 at 108% of target based on our absolute total shareholder return during 2014.
- F3Shares reflect the vesting of performance units granted in February 2012 at 107% of target based on our relative total shareholder return during 2012-2014.
- F4Performance units vest, if at all, at the end of fiscal year 2017, provided certain Company performance objectives are met as determined in February 2018. Each performance unit represents a contingent right to receive one share of Avery Dennison Corporation common stock.
- F5Market leveraged stock units vest 25% over one-, two-, three- and four-year performance periods using a conversion formula under which the number of shares earned is adjusted at each vesting date based on the percentage change in the Company's stock price plus dividend equivalents accrued during the vesting period. Each marked leveraged stock unit represents a contingent right to receive one share of Avery Dennison Corporation common stock, plus dividend equivalents.