Form 4: Avery Dennison Executive Divina Santiago Reports Stock Transactions

Divina Santiago, VP Controller at Avery Dennison, reports the acquisition and disposal of common stock and derivative securities, including MSUs and PUs, on March 1, 2025.

Summary

• On March 1, 2025, Divina Santiago, VP Controller of Avery Dennison Corp, reported transactions involving Avery Dennison's common stock and derivative securities.
• These transactions included the acquisition and disposal of common stock, as well as the vesting of market-leveraged stock units (MSUs) and performance units (PUs).
• The reported transactions changed Ms. Santiago's direct holdings of common stock to 487 shares and indirect holdings in a savings plan to 369.3232 shares.
• The transactions also involved the vesting of MSUs granted in March 2022, March 2023 and March 2024, and PUs granted in March 2022, based on the company's total stockholder return and other performance metrics.
• Ms. Santiago also holds 543 2025 MSU Awards and 565 2025 PU Awards.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing and does not inherently convey positive or negative sentiment. It simply reports transactions.

Positives

• The vesting of MSUs indicates that Avery Dennison has achieved certain performance targets related to total stockholder return.

Negatives

• The vesting of PUs granted in March 2022 occurred at 50% of target, indicating that the company did not fully achieve its performance objectives related to cumulative economic value added and relative total stockholder return for that period.

Risks

• Future vesting of MSUs and PUs is contingent upon Avery Dennison achieving specific performance objectives, which may not be met.

Future Outlook

Future vesting of MSUs and PUs depends on the company's performance against pre-defined targets, as determined by the Compensation Committee.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, providing transparency into the trading activities of company executives. It is a standard practice for publicly traded companies to comply with SEC regulations.

Comparison to Industry Standards

• Form 4 filings are standard practice across all publicly traded companies in the US, ensuring transparency in insider trading.
• Companies like 3M, Honeywell, and DuPont also have executives who regularly file Form 4s to report their transactions in company stock.
• The vesting schedules and performance metrics used for MSUs and PUs are common compensation tools used by companies to align executive incentives with shareholder value.

Stakeholder Impact

• The transactions reported in this filing may be of interest to shareholders as they provide insight into the actions of company executives.
• The vesting of MSUs and PUs is tied to the company's performance, which ultimately impacts shareholder value.

Key Dates