SEC Form 4 · accession 0001127602-17-008536
Avery Dennison Corp · AVY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Johansen
Officer — VP/GM, IHM
Period of report
Feb 23, 2017
Accepted (ET)
Feb 27, 2017 · 2:36 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 23, 2017 | M | 2,968 | $80.21 | A | 2,968 | D | |
| Common Stock | Feb 23, 2017 | F | 965 | $80.21 | D | 2,003 | D | |
| Common Stock | Feb 23, 2017 | M | 2,192 | $80.21 | A | 4,195 | D | |
| Common Stock | Feb 23, 2017 | F | 716 | $80.21 | D | 3,479 | D | |
| Common Stock | Feb 23, 2017 | M | 2,258 | $80.21 | A | 5,737 | D | |
| Common Stock | Feb 23, 2017 | F | 734 | $80.21 | D | 5,003 | D | |
| Common Stock | Feb 23, 2017 | M | 1,422 | $80.21 | A | 6,425 | D | |
| Common Stock | Feb 23, 2017 | F | 463 | $80.21 | D | 5,962 | D | |
| Common Stock | Feb 23, 2017 | M | 2,730 | $80.21 | A | 8,692 | D | |
| Common Stock | Feb 23, 2017 | F | 888 | $80.21 | D | 7,804 | D | |
| Common Stock (Savings Plan) | holding | — | — | — | 3,820 | 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 23, 2017 | M | 2,968 | D | Feb 27, 2014 | Feb 23, 2017 | Common Stock | 2,968 | 0 | D |
| 2014 MSU AwardF2 | $0.00 | Feb 23, 2017 | M | 2,192 | D | Feb 26, 2015 | Feb 22, 2018 | Common Stock | 2,192 | 1,307 | D |
| 2015 MSU AwardF3 | $0.00 | Feb 23, 2017 | M | 2,258 | D | Feb 25, 2016 | Feb 28, 2019 | Common Stock | 2,258 | 2,820 | D |
| 2016 MSU AwardF4 | $0.00 | Feb 23, 2017 | M | 1,422 | D | Feb 23, 2017 | Feb 27, 2020 | Common Stock | 1,422 | 3,394 | D |
| 2014 PU AwardF5 | $0.00 | Feb 23, 2017 | M | 2,730 | D | Feb 23, 2017 | Feb 23, 2017 | Common Stock | 2,730 | 0 | D |
| 2017 MSU AwardF6 | $0.00 | Feb 23, 2017 | A | 4,005 | A | Feb 23, 2018 | Feb 23, 2021 | Common Stock | 4,005 | 4,005 | D |
| 2017 PU AwardF7 | $0.00 | Feb 23, 2017 | A | 4,612 | A | Feb 23, 2020 | Feb 23, 2020 | Common Stock | 4,612 | 4,612 | D |
Explanation of responses
- F1Shares reflect the vesting of the fourth tranche of market leveraged stock units granted in February 2013 at 200% of target based on our absolute total shareholder return during 2013-2016, plus dividend equivalents accrued during the period.
- F2Shares reflect the vesting of the third tranche of market leveraged stock units granted in February 2014 at 156% of target based on our absolute total shareholder return during 2014-2016, plus dividend equivalents accrued during the period.
- F3Shares reflect the vesting of the second tranche of market leveraged stock units granted in February 2015 at 153% of target based on our absolute total shareholder return in excess of 10% during 2015-2016, plus dividend equivalents accrued during the period.
- F4Shares reflect the vesting of the first tranche of market leveraged stock units granted in February 2016 at 123% of target based on our absolute total shareholder return in excess of 10% during 2016, plus dividend equivalents accrued during the period.
- F5Shares reflect the vesting of performance units granted in February 2014 at 50% of target, 75% based on our cumulative economic value added of his business group at that time and 25% on our our relative total shareholder return performance objectives established for the award.
- F6Market 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 Company's absolute total shareholder return, 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.
- F7Performance units vest, if at all, at the end of fiscal year 2019, provided certain Company performance objectives are met as determined in February 2020.? Each performance unit represents a contingent right to receive one share of Avery Dennison Corporation common stock.