Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) (c) On May 29, 2026, Ryan D. Yost, President, Materials Group, of Avery Dennison Corporation, a Delaware corporation (the "Company"), notified the Company of his decision to resign to accept another opportunity. Mr. Yost continued serving in that capacity through May 31, 2026 and will leave the Company on June 12, 2026. On May 31, 2026, the Company’s Board of Directors (the “Board”) elected Danny G. Allouche as the Company’s President, Materials Group, effective June 1, 2026. Mr. Allouche ceased serving as the Company’s Senior Vice President and Chief Strategy and Corporate Development Officer (“CSDO”) on May 31, 2026. Mr. Allouche, age 52, had served as the Company’s Senior Vice President and CSDO since August 2022; from November 2024 through March 2025, he also served as Interim Chief Financial Officer. Prior to that, Mr. Allouche served as Vice President and CSDO from April 2021 to July 2022; Vice President, Corporate Development, from May 2016 to March 2021; and Vice President, Treasury and Corporate Development, from August 2015 to May 2016. Mr. Allouche held several other roles in positions of increasing responsibility since joining the Company in August 2010. In connection with this election, the Board’s Talent and Compensation Committee (the “Committee”) made the following compensation decisions for Mr. Allouche in his new role: (i) no change to his current annual base salary of ILS 1,989,960 (approximately $667,123 using the average monthly exchange rate for May 2026); (ii) no change to his target Annual Incentive Plan opportunity of 60% of base salary; and (iii) an increase in his target annual long-term incentive (LTI) opportunity from 180% to 200% of base salary. To effectuate the increase in his annual LTI award for 2026, the Committee approved a supplemental 2026 LTI award equal to 20% of base salary to be granted on September 1, 2026, 60% in performance units and 40% in restricted stock units with the same performance objectives and/or vesting criteria as the annual LTI award granted on March 1, 2026; the Committee also approved a special LTI award to Mr. Allouche of restricted stock units with a target grant date fair value of $500,000 to be granted on September 1, 2026 that will cliff-vest on June 1, 2029. These awards are subject to his continued employment through the applicable vesting dates. Mr. Allouche will continue to be eligible to participate in the Company’s executive severance plan and key executive change of control severance plan, in each case as described in the Company’s proxy statement filed with the Securities and Exchange Commission on March 12, 2026. A copy of the press release announcing Mr. Allouche’s new role is attached as Exhibit 99.1 hereto and incorporated herein by reference. Section 9 — Financial Statements and Exhibits
AVY Avery Dennison Corp - 8-K
Accession
0000008818-26-0001165.029.01
Item 5.02 - Departure/Election of Directors or Certain Officers
475 words · Exhibit 99.1 attached
Exhibit 99.1 · 447 words
EX-99.1 2 ex991-5x29x26.htm EX-99.1 Exhibit 99.1 Press Release For Immediate Release Avery Dennison Names Danny Allouche President, Materials Group MENTOR, Ohio—(BUSINESS WIRE)—June 4, 2026 —Avery Dennison Corporation (NYSE: AVY), a leading global materials science and digital identification solutions company, today announced that Danny Allouche has been appointed president, Materials Group. “Danny has played an essential role in shaping the strategic direction of the Materials Group and Avery Dennison for many years. He possesses a strong knowledge of our Materials business, having served as a thought partner to leadership and supported critical business projects, including strategic M&A activity,” said Avery Dennison President and CEO Deon Stander. “The Materials Group will benefit from Danny’s experience developing, executing and managing strategies across a portfolio of businesses, along with his having provided key contributions in building our Intelligent Labels platform. “As president of the Materials Group, Danny will continue to focus our teams on delivering for our customers through innovation, service and quality, driving outsized growth in high-value categories and growing profitably in our base businesses. He will also advance our capabilities to connect the physical and digital.” Allouche has held several leadership roles at Avery Dennison over the past 16 years. Since 2016, he has led the company’s global strategy and corporate portfolio and development activities, most recently having served as senior vice president and chief strategy and corporate development officer. In this role, he also oversaw all M&A and venture investment activities. Allouche served as interim chief financial officer for Avery Dennison for a brief period beginning in late 2024. He has also led the company’s Treasury function. Allouche holds a master's degree in business administration from the UCLA Anderson School of Management and a bachelor’s degree in economics from Northwestern University. About Avery Dennison Avery Dennison Corporation (NYSE: AVY) is a global materials science and digital identification solutions company. We are Making Possible™ products and solutions that help advance the industries we serve, providing branding and information solutions that optimize labor and supply chain efficiency, reduce waste and mitigate loss, advance sustainability, circularity and transparency and better connect brands and consumers. We design and develop labeling and functional materials, radio-frequency identification (RFID) inlays and tags, software applications that connect the physical and digital and offerings that enhance branded packaging and carry or display information that improves the customer experience. Serving industries worldwide — including home and personal care, apparel, general retail, e-commerce, logistics, food and grocery, pharmaceuticals and automotive — we employ approximately 35,000 employees in more than 50 countries. Our reported sales in 2025 were $8.9 billion. Learn more at www.averydennison.com. Contact William Gilchrist Vice President, Investor Relations [email protected] Kristin Robinson Vice President, Global Communications [email protected] ###
Item 9.01 - Financial Statements and Exhibits
74 words
Item 9.01 Financial Statements and Exhibits. Exhibit Number Exhibit Title 99.1 Press Release dated June 4, 2026 naming Danny Allouche as President, Materials Group 104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) EXHIBIT INDEX Exhibit Number Exhibit Title 99.1 Press Release dated June 4, 2026 naming Danny Allouche as President, Materials Group 104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)