X0306 4 2016-02-25 0000008818 Avery Dennison Corp AVY 0001492802 Bondar Lori J 207 GOODE AVENUE GLENDALE CA 91203 1 VP, Controller and CAO Common Stock 2016-02-25 4 M 0 1809 65.68 A 3026 D Common Stock 2016-02-25 4 F 0 680 65.68 D 2346 D Common Stock 2016-02-25 4 M 0 1330 65.68 A 3676 D Common Stock 2016-02-25 4 F 0 489 65.68 D 3187 D Common Stock 2016-02-25 4 M 0 1101 65.68 A 4288 D Common Stock 2016-02-25 4 F 0 414 65.68 D 3874 D Common Stock (Savings Plan) 388.5404 I Savings Plan 2013 MSU Award 0 2016-02-25 4 M 0 1809 0 D 2014-02-28 2017-03-01 Common Stock 1809 936 D 2014 MSU Award 0 2016-02-25 4 M 0 1330 0 D 2015-02-26 2018-02-27 Common Stock 1330 2021 D 2015 MSU Award 0 2016-02-25 4 M 0 1101 0 D 2016-02-26 2019-02-26 Common Stock 1101 2960 D 2016 MSU Award 0 2016-02-25 4 A 0 2705 0 A 2017-02-25 2020-02-25 Common Stock 2705 2705 D 2016 PU Award 0 2016-02-25 4 A 0 3152 0 A 2019-02-25 2019-02-25 Common Stock 3152 3152 D Shares 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. Shares 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. res 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. Market 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. Performance 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. /s/ Erica Perry POA for Lori J Bondar 2016-02-29