Form 4: Avery Dennison Director Sells Shares Under 10b5-1 Plan

Avery Dennison Director Mitchell R. Butier sold 32,000 shares of common stock in March 2026 under a pre-arranged 10b5-1 trading plan.

Summary

• Mitchell R. Butier, a Director of Avery Dennison Corp (AVY), sold a total of 32,000 shares of common stock.
• The sales occurred on March 11, 2026, and March 12, 2026, at weighted average prices ranging from $169.7064 to $174.5326 per share.
• These transactions were executed automatically pursuant to a Rule 10b5-1 trading plan adopted on November 24, 2025.
• The adopted 10b5-1 plan provides for the potential total sale of up to 113,000 shares.
• Following these transactions, Mr. Butier directly owns 198,147 shares and indirectly owns 4,312.4948 shares through a Savings Plan.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. While insider selling can sometimes be a negative signal, the execution under a pre-established 10b5-1 plan mitigates concerns about opportunistic trading, suggesting a planned liquidity event rather than a reaction to adverse company-specific news.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned divestment rather than a reaction to recent company-specific news or material non-public information.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived by some investors as a slight negative signal, though this is largely mitigated by the pre-planned nature of the transactions.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transactions, particularly sales, are routinely monitored by investors for signals regarding management's confidence in the company's future prospects. However, sales executed under a Rule 10b5-1 plan, like this one, are generally viewed as less indicative of a change in sentiment as they are pre-scheduled and designed to avoid accusations of trading on material non-public information.

Related Party Transactions

• The sale of common stock by a director of Avery Dennison Corp to the open market constitutes a related party transaction as defined by SEC regulations for insider reporting.

Stakeholder Impact

• Shareholders: The sale of shares by a director could be interpreted by some shareholders as a slight negative signal, though the 10b5-1 plan context generally reduces this concern. The overall impact on the company's stock price is likely minimal given the volume relative to total outstanding shares and average daily trading volume.

Next Steps

• The reporting person may continue to sell additional shares under the Rule 10b5-1 trading plan, up to the remaining balance of the 113,000 shares originally designated in the plan.

Key Dates

Recommendation

The insider sale, executed under a pre-arranged 10b5-1 plan, is a routine personal financial management event for a director and does not reflect a change in the company's fundamental outlook or performance. Therefore, it provides no new information that would warrant a change in investment recommendation for Avery Dennison Corp.

Keywords

Avery Dennison, AVY, Mitchell R Butier, Insider Sale, Form 4, 10b5-1 Plan, Director, Stock Transaction, Equity Sale