Sec Form 4 Filing - MALCHIONE ROBERT M @ AVERY DENNISON CORPORATION - 2011-02-24

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 MALCHIONE ROBERT M 2. Issuer Name and Ticker or Trading Symbol AVERY DENNISON CORPORATION [ AVY] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Sr. VP, Corp.Strategy & Techn (Last) (First) (Middle) 150 NORTH ORANGE GROVE BLVD 3. Date of Earliest Transaction (MM/DD/YY) 02/24/2011 (Street) PASADENA, CA91103 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 Savings Plan 6,959.1782 I Savings Plan Common Stock 02/24/2011 M 341 A $ 39.32 12,507 D Common Stock 02/24/2011 M 224 A $ 39.32 12,731 D Common Stock 02/24/2011 M 1,900 A $ 39.32 14,631 D Common Stock 02/24/2011 M 1,577 A $ 39.32 16,208 D Common Stock 02/24/2011 F 1,501 D $ 39.32 14,707 D

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 2011 Stock Option $ 39.32 02/24/2011 A 50,760 02/24/2012( 1 ) 02/24/2021 Common Stock 50,760 $ 0 50,760 D 2011 PSU Award $ 0 02/24/2011 A 8,490 02/27/2014( 2 ) 02/27/2014 Common Stock 8,490 $ 0 8,490 D 2005 DER $ 39.32 ( 3 ) 02/24/2011 M 341 02/24/2011 04/28/2011 Common Stock 341 $ 0 0 D 2006 DER $ 39.32 ( 4 ) 02/24/2011 M 224 02/24/2011 04/28/2011 Common Stock 224 $ 0 0 D 2005 RSU award $ 39.32 ( 5 ) 02/24/2011 M 1,900 02/24/2011 04/28/2011 Common Stock 1,900 $ 0 0 D 2006 RSU award $ 39.32 ( 6 ) 02/24/2011 M 1,577 02/24/2011 04/28/2011 Common Stock 1,577 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other MALCHIONE ROBERT M 150 NORTH ORANGE GROVE BLVD PASADENA, CA91103 Sr. VP, Corp.Strategy & Techn Signatures /s/ Barbara Bartoletti POA for Robert M. Malchione 02/28/2011 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Options are exercisable in cumulative installments of 25% on the first, second, third and fourth anniversary of the date of the grant. ( 2 )Performance units vest, if at all, on February 27, 2014, provided certain Company performance objectives are met. Each performance unit represents a contingent right to receive one share of Avery Dennison Corporation common stock. ( 3 )Settlement of dividend equivalent rights in connection with vesting of restricted stock units. The rights accrued when and as dividends were paid on the common stock. Each dividend right represents the right to receive one share of common stock. ( 4 )Settlement of dividend equivalent rights in connection with vesting of restricted stock units. The rights accrued when and as dividends were paid on the common stock. Each dividend right represents the right to receive one share of common stock. ( 5 )Each restricted stock unit represents a contingent right to receive one share of Avery Dennison Corporation common stock. ( 6 )Each restricted stock unit represents a contingent right to receive one share of Avery Dennison Corporation common stock.

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).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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