Sec Form 4 Filing - Walker Ignacio J @ Avery Dennison Corp - 2026-03-01

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Walker Ignacio J 2. Issuer Name and Ticker or Trading Symbol Avery Dennison Corp [ AVY] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) SVP and Chief Legal Officer (Last) (First) (Middle) 8080 NORTON PARKWAY 3. Date of Earliest Transaction (MM/DD/YY) 03/01/2026 (Street) MENTOR, OH44060 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 03/01/2026 M 443 A $ 194.78 8,031 D Common Stock 03/01/2026 F 130 D $ 194.78 7,901 D Common Stock 03/01/2026 M 369 A $ 194.78 8,270 D Common Stock 03/01/2026 F 90 D $ 194.78 8,180 D Common Stock 03/01/2026 M 270 A $ 194.78 8,450 D Common Stock 03/01/2026 F 66 D $ 194.78 8,384 D Common Stock 03/01/2026 M 419 A $ 194.78 8,803 D Common Stock 03/01/2026 F 103 D $ 194.78 8,700 D Common Stock 03/01/2026 M 829 A $ 194.78 9,529 D Common Stock 03/01/2026 F 202 D $ 194.78 9,327 D Common Stock (Savings Plan) 587.0168 I Savings Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares 2026 RSU Award $ 0 03/01/2026 A 1,857 03/01/2027( 1 ) 03/01/2030 Common Stock 1,857 $ 0 1,857 D 2026 PU Award $ 0 03/01/2026 A 2,684 03/01/2029( 2 ) 03/01/2029 Common Stock 2,684 $ 0 2,684 D 2026 Special RSU Award $ 0 03/01/2026 A 1,797 03/01/2029( 3 ) 03/01/2029 Common Stock 1,797 $ 0 1,797 D 2022 MSU Award $ 0 03/01/2026 M 443 03/01/2023( 4 ) 03/01/2026 Common Stock 443 $ 0 0 D 2023 MSU Award $ 0 03/01/2026 M 369 03/01/2024( 5 ) 03/01/2027 Common Stock 369 $ 0 365 D 2024 MSU Award $ 0 03/01/2026 M 270 03/01/2025( 6 ) 03/01/2028 Common Stock 270 $ 0 568 D 2025 MSU Award $ 0 03/01/2026 M 419 03/01/2026( 7 ) 03/01/2029 Common Stock 419 $ 0 1,309 D 2023 PU Award $ 0 03/01/2026 M 829 03/01/2026( 8 ) 03/01/2026 Common Stock 829 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Walker Ignacio J 8080 NORTON PARKWAY MENTOR, OH44060 SVP and Chief Legal Officer Signatures /s/ Vikas Arora, attorney-in-fact for Ignacio J. Walker 03/03/2026 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Restricted stock units (RSUs) vest 25% on each of the first, second, third and fourth anniversaries of the grant date. Each RSU represents a contingent right to receive one share of common stock. ( 2 )Performance units (PUs) vest, at the end of fiscal year 2028, provided certain performance objectives are met as determined by the Compensation Committee in February 2029. Each PU represents a contingent right to receive one share of common stock. ( 3 )Restricted stock units cliff-vest on the third anniversary of the grant date. Each RSU represents a contingent right to receive one share of common stock. ( 4 )Shares reflect the vesting of the fourth tranche of MSUs granted in February 2022 at 92% of target based on our absolute total stockholder return in excess of 10% during the 2022-2025 performance period, plus dividend equivalents accrued during the period. ( 5 )Shares reflect the vesting of the third tranche of MSUs granted in March 2023 at 96% of target based on our absolute total stockholder return during the 2023-2025 performance period, plus dividend equivalents accrued during the period. ( 6 )Shares reflect the vesting of the second tranche of MSUs granted in March 2024 at 92% of target based on our absolute total stockholder return during the 2024-2025 performance period, plus dividend equivalents accrued during the period. ( 7 )Shares reflect the vesting of the first tranche of MSUs granted in March 2025 at 94% of target based on our absolute total stockholder return during the 2025 performance period, plus dividend equivalents accrued during the period. ( 8 )Shares reflect the vesting of PUs granted in March 2023 at 56% of target, based 50% on our cumulative economic value added of 0% of target and 50% on our relative total stockholder return of 112% of target.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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