Avery Dennison Corp. 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report, dated May 29, 2026, and signed on June 4, 2026, pertains to Avery Dennison Corporation, a Delaware corporation. The filing reports significant changes in corporate governance and management within the Materials Group division.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. It focuses exclusively on executive personnel changes and associated compensation adjustments.
Material Changes
- Departure: Ryan D. Yost resigned as President of the Materials Group, effective June 12, 2026, to pursue another opportunity.
- Appointment: Danny G. Allouche was elected President of the Materials Group, effective June 1, 2026. He previously served as Senior Vice President and Chief Strategy and Corporate Development Officer (CSDO).
- Compensation Adjustment: Mr. Allouche's target annual long-term incentive (LTI) opportunity increased from 180% to 200% of his base salary (approximately $667,123).
- Special Awards: A supplemental 2026 LTI award (20% of base salary) and a special restricted stock unit award with a target grant date fair value of $500,000 were approved for Mr. Allouche.
Outlook, Risks, and Contingencies
The filing does not contain updated financial guidance, management commentary on market outlook, or new risk factors. The primary contingency noted is that the new equity awards granted to Mr. Allouche are subject to his continued employment through the applicable vesting dates, with the special award cliff-vesting on June 1, 2029.
Key Facts for Investor Verification
- Verify the transition timeline for the Materials Group leadership between Mr. Yost's departure and Mr. Allouche's start date.
- Review the specific performance objectives and vesting criteria for the supplemental LTI award and the $500,000 special restricted stock unit award.
- Confirm the impact of this leadership change on the Materials Group's strategic direction as detailed in the attached press release (Exhibit 99.1).