SEC Form 4 · accession 0001127602-16-043973
Avery Dennison Corp · AVY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Dean A Scarborough
Officer — Chairman and CEO · Director
Period of report
Feb 25, 2016
Accepted (ET)
Feb 29, 2016 · 6:23 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 25, 2016 | M | 14,210 | $65.68 | A | 166,740 | D | |
| Common Stock | Feb 25, 2016 | F | 7,415 | $65.68 | D | 159,325 | D | |
| Common Stock | Feb 25, 2016 | M | 22,766 | $65.68 | A | 182,091 | D | |
| Common Stock | Feb 25, 2016 | F | 11,880 | $65.68 | D | 170,211 | D | |
| Common Stock | Feb 25, 2016 | M | 114,976 | $65.68 | A | 285,187 | D | |
| Common Stock | Feb 25, 2016 | F | 59,996 | $65.68 | D | 225,191 | D | |
| Common Stock | Feb 25, 2016 | M | 15,666 | $65.68 | A | 240,857 | D | |
| Common Stock | Feb 25, 2016 | F | 7,456 | $65.68 | D | 233,401 | D | |
| Common Stock | holding | — | — | — | 20 | I | By Son | |
| Common Stock | holding | — | — | — | 148 | I | Owned By Spouse | |
| Common Stock (Savings Plan) | holding | — | — | — | 40,537 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2015 MSU AwardF1 | $0.00 | Feb 25, 2016 | M | 14,210 | D | Feb 26, 2016 | Feb 26, 2019 | Common Stock | 14,210 | 38,165 | D |
| 2013 MSU AwardF2 | $0.00 | Feb 25, 2016 | M | 22,766 | D | Feb 27, 2014 | Mar 1, 2017 | Common Stock | 22,766 | 11,780 | D |
| 2016 MSU AwardF3 | $0.00 | Feb 25, 2016 | A | 17,999 | A | Feb 25, 2017 | Feb 25, 2020 | Common Stock | 17,999 | 17,999 | D |
| 2016 PU AwardF4 | $0.00 | Feb 25, 2016 | A | 20,976 | A | Feb 25, 2019 | Feb 25, 2019 | Common Stock | 20,976 | 20,976 | D |
| 2013 PU AwardF5 | $0.00 | Feb 25, 2016 | M | 114,976 | D | Dec 31, 2013 | Mar 1, 2016 | Common Stock | 114,976 | 0 | D |
| 2014 MSU AwardF6 | $0.00 | Feb 25, 2016 | M | 15,666 | D | Feb 26, 2015 | Feb 27, 2018 | Common Stock | 15,666 | 23,810 | D |
| Common Stock Units | $0.00 | holding | — | — | — | Aug 8, 1988 | Aug 8, 1988 | Common Stock | 3,185 | 3,185 | I |
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.
- F2Shares reflect the vesting of the third tranche of market leveraged stock units granted in February 2013 at 179% of target based on our absolute total shareholder return during 2013-2015, plus dividend equivalents accrued during the period.
- F3Market 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.
- F4Performance 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.
- F5Shares reflect the vesting of performance units granted in February 2013 at 200% of target, 50% based on our cumulative economic value added and 50% on our relative total shareholder return performance objectives established for the award.
- F6Shares reflect the vesting of the second tranche of market leveraged stock units granted in February 2014 at 125% of target based on our absolute total shareholder return during 2014-2015, plus dividend equivalents accrued during the period.