SEC Form 4 · accession 0001127602-16-043955
Avery Dennison Corp · AVY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Anne L Bramman
Officer — Senior Vice President and CFO
Period of report
Feb 25, 2016
Accepted (ET)
Feb 29, 2016 · 5:58 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 25, 2016 | M | 1,763 | $65.68 | A | 1,763 | D | |
| Common Stock | Feb 25, 2016 | F | 655 | $65.68 | D | 1,108 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2015 MSU AwardF1 | $0.00 | Feb 25, 2016 | M | 1,763 | D | Feb 26, 2016 | Feb 26, 2019 | Common Stock | 1,763 | 4,768 | D |
| 2016 MSU AwardF2 | $0.00 | Feb 25, 2016 | A | 7,542 | A | Feb 25, 2017 | Feb 25, 2020 | Common Stock | 7,542 | 7,542 | D |
| 2016 PU AwardF3 | $0.00 | Feb 25, 2016 | A | 8,790 | A | Feb 25, 2019 | Feb 25, 2019 | Common Stock | 8,790 | 8,790 | D |
Explanation of responses
- F1Shares reflect the vesting of the first tranche of market leveraged stock units granted in February 2015 at 109% of target based on our absolute total shareholder return in excess of 10% during 2015, plus dividend equivalents accrued during the period.
- F2Market 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 at each vesting date is 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.
- F3Performance units vest, if at all, at the end of fiscal year 2018, provided certain Company performance objectives are met as determined in February 2019. Each performance unit represents a contingent right to receive one share of Avery Dennison Corporation common stock.