X0306 4 2016-02-25 0000008818 Avery Dennison Corp AVY 0001640508 GRAVANIS GEORGES 207 GOODE AVE. GLENDALE CA 91203 1 President, Materials Group Common Stock 2016-02-25 4 M 0 2572 65.68 A 3789 D Common Stock 2016-02-25 4 M 0 2003 65.68 A 5792 D Common Stock 2016-02-25 4 M 0 1943 65.68 A 7735 D Common Stock 2016-02-25 4 M 0 12996 65.68 A 20731 D 2013 MSU Award 0 2016-02-25 4 M 0 2572 0 D 2014-02-27 2017-03-01 Common Stock 2572 1332 D 2014 MSU Award 0 2016-02-25 4 M 0 2003 0 D 2015-02-26 2018-02-27 Common Stock 2003 3043 D 2015 MSU Award 0 2016-02-25 4 M 0 1943 0 D 2016-02-26 2019-02-26 Common Stock 1943 5218 D 2013 PU Award 0 2016-02-25 4 M 0 12996 0 D 2016-02-28 2016-02-28 Common Stock 12996 0 D 2016 MSU Award 0 2016-02-25 4 A 0 6173 0 A 2017-02-25 2020-02-25 Common Stock 6173 6173 D 2016 PU Award 0 2016-02-25 4 A 0 7195 0 A 2019-02-25 2019-02-25 Common Stock 7195 7195 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. Shares 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. Shares reflect the vesting of performance units granted in February 2013 at 200% of target, 75% based on our cumulative economic value added of his business group and 25% on our relative total shareholder return performance objectives established for the award. 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 Georges Gravanis 2016-02-29