Form 4: Avery Dennison Executive Chairman Mitchell Butier Executes Option Exercises and Stock Sales Under 10b5-1 Plan

Mitchell Butier, Executive Chairman of Avery Dennison, executed option exercises and sales of common stock under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Mitchell R Butier, Executive Chairman of Avery Dennison Corp, reported transactions involving the company's common stock.
• On August 14 and 15, 2024, Butier exercised stock options and sold shares of common stock.
• The exercises and sales were conducted under a Rule 10b5-1 trading plan adopted on March 14, 2024.
• A total of 13,000 stock options were exercised at a price of $73.956 per share.
• Sales of common stock totaled 13,000 shares at prices ranging from $208.180 to $212.910.
• Following these transactions, Butier directly owns 304,114 shares of common stock and indirectly owns 4,179.333 shares through a savings plan.
• He also holds options for 57,108 shares of common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing simply reports transactions executed under a pre-existing plan. There is no indication of positive or negative sentiment towards the company's prospects.

Future Outlook

The reporting person has a trading plan that provides for the potential total sale of up to 141,108 shares.

Industry Context

This filing is a routine disclosure of insider transactions, which are common among corporate executives. The use of a 10b5-1 plan indicates that these transactions were pre-planned and not based on any inside information at the time of the trades.

Comparison to Industry Standards

• Executive stock option exercises and sales are a common practice across publicly traded companies.
• The use of Rule 10b5-1 trading plans is a standard method for executives to manage their stock holdings while avoiding accusations of insider trading.
• Comparable companies such as 3M, Illinois Tool Works, and CCL Industries also see regular Form 4 filings from their executives.
• The size and frequency of these transactions are typical for executives at companies of Avery Dennison's size and market capitalization.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the increased supply of shares in the market.
• However, the pre-planned nature of the sales mitigates concerns about insider information influencing the trades.

Key Dates