Avery Dennison management check
AVY · Materials · Paper & Plastic Packaging Products & Materials · CEO Deon Stander
Filings as of
4 good · 2 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2022 grew to $127, against $101 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 4 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.86 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
1.4% of net income$9.5m of reported pay in fiscal 2025, against $688.0m of net income.
- n/a
Do they own the stock?
No recent CEO filingLight activity: no buys, $962k sold in six months.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -1.7% a year over the last three fiscal years. Stock-based pay was 0.3% of revenue in the latest year.
- Watch
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Mitchell Butier, Deon Stander. 11 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Materials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 83 | 40 | |
| Pay for performance | 93 | 77 | |
| CEO cost | 38 | 40 | |
| Skin in the game | — | — | 38 |
| Dilution | 72 | 71 | |
| Stable leadership | 30 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Paper & Plastic Packaging Products & Materials, by management score. Avery Dennison is 10th of 24 in its sector.
- 148PKGPackaging Corporation of America72
- 172SWSmurfit Westrock71
- 189AVYAvery Dennison69
- 203NUENucor68
- 453AMCRAmcor46
- 474IPInternational Paper38
Pay versus performance
From the proxy statement filed March 12, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Deon Stander | $9.5m | $6.3m | $2.3m | $127 | $101 | $688.0m |
| 2024 | Deon Stander | $9.9m | $7.4m | $3.1m | $155 | $136 | $704.9m |
| 2023 | Deon Stander, Mitchell Butier | $9.7m | $10.9m | $2.1m | $165 | $119 | $503.0m |
| 2022 | Mitchell Butier | $9.1m | $7.6m | $2.4m | $145 | $110 | $757.1m |
The board says pay is tied most to Adjusted EPS. Its other key measures: Absolute and relative TSR, Cumulative EVA, Adjusted sales growth, Adjusted free cash flow.
Insiders and the CEO's stake
Light activity: no buys, $962k sold in six months.
- SoldNicholas ColistoSVP & CIO$663kSep 15, 2026
- SoldIgnacio J WalkerSVP and Chief Legal Officer$299kAug 4, 2026
Leadership and governance on file
- Oct 13, 2026Leadership change8-K 5.02
- Oct 5, 2026Leadership change8-K 5.02
- Jun 4, 2026Leadership change8-K 5.02
- Jul 24, 2025Leadership change8-K 5.02
- Mar 31, 2025Leadership change8-K 5.02
- Jan 2, 2025Leadership change8-K 5.02
- Nov 15, 2024Leadership change8-K 5.02
- Nov 8, 2024Leadership change8-K 5.02
- Jun 3, 2024Leadership change8-K 5.02
- Feb 26, 2024Leadership change8-K 5.02
- Nov 22, 2023Leadership change8-K 5.02
- Jul 27, 2023Leadership change8-K 5.02
Latest shareholder vote results: May 1, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $2.8bn returned to owners in buybacks and dividends, 83% of net income, and $163.5m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $8.4bn | $9.0bn | $8.4bn | $8.8bn | $8.9bn |
| Net income | $740.1m | $757.1m | $503.0m | $704.9m | $688.0m |
| Stock-based pay | $37.2m | $47.4m | $22.3m | $28.7m | $27.9m |
| Buybacks | $180.9m | $379.5m | $137.5m | $247.5m | $572.3m |
| Dividends | $220.6m | $238.9m | $256.7m | $277.5m | $288.4m |
| Diluted shares | 84m | 82m | 81m | 81m | 78m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.