Avery Dennison Corporation filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$AVY
Containers/Packaging
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
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Section 5 — Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b)(c) Effective April 1, 2025, Gregory S. Lovins, Senior Vice President and Chief Financial Officer of Avery Dennison Corporation (the “Company”), will resume serving as the Company’s principal financial officer following a previously disclosed medical leave of absence that began on November 14, 2024. Danny G. Allouche will cease serving as the Company’s Interim Chief Financial Officer and principal financial officer on March 31, 2025; he will continue serving as the Company’s Senior Vice President and Chief Strategy and Corporate Development Officer.
In connection with its annual executive compensation review process in February 2025, the Talent and Compensation Committee of the Company’s Board of Directors approved a base salary of $838,500 for Mr. Lovins. His previous target Annual Incentive Plan opportunity of 75% of base salary and target long-term incentive opportunity of 250% of base salary were unchanged. Mr. Lovins will continue to receive an annual executive benefit allowance of $65,000 and be eligible to participate in the Company’s savings (401(k)), deferred compensation, executive severance and key employee change of control severance plans, in each case as described in the Company’s 2025 proxy statement filed with the Securities and Exchange Commission on March 7, 2025.
Section 9 — Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
| Exhibit Number | Exhibit Title | |||||||
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) | |||||||
EXHIBIT INDEX
| Exhibit Number | Exhibit Title | |||||||
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AVERY DENNISON CORPORATION | ||||||||||||||
| Date: March 31, 2025 | By: | /s/ Deon M. Stander | ||||||||||||
Name: Title: | Deon M. Stander President and Chief Executive Officer | |||||||||||||