https://www.avient.com/sites/default/files/resources/PolyOne%25202017%2520Proxy%2520Statement.PDF
NOTICE OF 2017
ANNUALMEETING OF SHAREHOLDERS
AND PROXY STATEMENT
TABLE OF CONTENTS
MESSAGE FROM OUR CEO ............................................................................................................................................................................................i
NOTICE OF 2017 ANNUAL MEETING OF SHAREHOLDERS..........................................................................................................................ii
PROXY SUMMARY............................................................................................................................................................................................................1
PROXY STATEMENT .......................................................................................................................................................................................................5
PROPOSAL 1— ELECTION OF BOARD OF DIRECTORS .................................................................................................................................6
PROPOSAL 2— ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION .........................................11
PROPOSAL 3— ADVISORY VOTE TO APPROVE THE FREQUENCY OF FUTURE ADVISORY VOTES TO
APPROVE NAMED EXECUTIVE OFFICER COMPENSATION .....................................................................................................12
PROPOSAL 4— APPROVAL OF THE POLYONE CORPORATION 2017 EQUITY AND INCENTIVE
COMPENSATION PLAN .............................................................................................................................................................................13
PROPOSAL 5— RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM..................................................................................................................................................................................................................30
CORPORATE GOVERNANCE.....................................................................................................................................................................................33
2016 NON-EMPLOYEE DIRECTOR COMPENSATION....................................................................................................................................39
OWNERSHIP OF POLYONE SHARES.....................................................................................................................................................................41
COMPENSATION DISCUSSION AND ANALYSIS ...............................................................................................................................................43
Executive Summary....................................................................................................................................................................................43
Executive Compensation Philosophy and Objectives..................................................................................................................47
What We Pay and Why: Elements of Compensation ..................................................................................................................49
Other Aspects of Our Compensation Programs .............................................................................................................................55
EXECUTIVE COMPENSATION..................................................................................................................................................................................59
2016 Summary Compensation Table .................................................................................................................................................59
2016 Grants of Plan-Based Awards.....................................................................................................................................................62
Outstanding Equity Awards at 2016 Fiscal Year-End.................................................................................................................64
2016 Option Exercises and Stock Vested..........................................................................................................................................67
2016 Pension Benefits...............................................................................................................................................................................67
2016 Nonqualified Deferred Compensation ...................................................................................................................................68
Potential Payments Upon Termination or Change of Control .................................................................................................70
Compensation Committee Interlocks .................................................................................................................................................74
Policy on Related Person Transactions .............................................................................................................................................74
Risk Assessment of the Compensation Programs.........................................................................................................................74
Compensation Committee Report........................................................................................................................................................75
MISCELLANEOUS PROVISIONS...............................................................................................................................................................................76
APPENDIX A...................................................................................................................................................................................................................A-1
APPENDIX B...................................................................................................................................................................................................................B-1
MESSAGE FROM OUR CEO
March 31, 2017
Dear Fellow Shareholder:
You are cordially invited to attend the PolyOne Corporation Annual Meeting of Shareholders (the
“Annual Meeting”), which will be held at 9:00 a.m. on Thursday, May 11, 2017, at PolyOne Corporation’s
corporate headquarters located at PolyOne Center, 33587Walker Road, Avon Lake, Ohio 44012.
Outstanding Equity Att wards at 2016 Fiscal Year-End
Exercise
Price
((e))
Expiration
Date
((f))ff
Market
Value of
Shares or
Units of
Stock That
Have Not
Vested
((h))
Equity Incentivtt e
Plan Awards:
Market or Payout
Value of Unearned
Shares, Units ot r
Othertt Rights ttt hatt t
Have Not Vested
((jj))
- - 8,510 (1) 272,660 -
- - 24,671 (2) 790,459 -
- - 35,272 (3) 1,130,115 -
- - - 51,756 (6) 1,658,262
- - - 51,756 (6) 1,658,262
30,500 (8) 14.81 2/16/2021 - -
48,800 (9) 14.61 2/14/2022 - -
30,700 (10) 23.08 2//15//2023 - -
13,667 (11) 6,833 (11) 35.07 2//11//2024 - -
66,700 (12) 38.27 2//4//2025 - -
105,200 (13) 24.98 2/10/2026 -
- - 7,266 (1) 232,803 -
- - 6,892 (2) 220,820 -
8,426 (3) 269,969 -
11,600 (11) 5,800 (11) 35.07 2/11/2024 -
18,700 (12) 38.27 2//4//2025 - -
25,150 (13) 24.98 2//10//2026 - -
- - 4,360 (1) 139,694 -
- - 25,935 (4) 830,957 -
- - 4,114 (2) 131,813 -
- - 5,026 (3) 161,033 -
- - - 25,935 (7) 830,957
13,700 (10) 23.08 2/15/2023 - -
6,934 (11) 3,466 (11) 35.07 2/11/2024 - -
11,200 (12) 38.27 2/4/2025 - -
15,000 (13) 24.98 2//10//2026 - -
- - 3,222 (1) 103,233 -
- - 2,593 (5) 83,080 -
- - 3,395 (2) 108,776 -
- - 4,316 (3) 138,285
5,200 (11) 2,600 (11) 35.07 2/11/2024 - -
9,200 (12) 38.27 2/4/2025 - -
12,900 (13) 24.98 2//10//2026 - -
- - 3,634 (1) 116,433 -
3,500 (2) 112,140 -
4,569 (3) 146,391 -
23,300 (9) 14.61 2//14//2022 - -
13,700 (10) 23.08 2/15/2023 -
5,800 (11) 2,900 (11) 35.07 2/11/2024 - -
9,300 (12) 38.27 2/4/2025 -
13,550 (13) 24.98 2//10//2026 - -
37,760 (1) 1,209,830 -
137,000 (10) 23.08 2//15//2023 -
60,667 (11) 30,333 (11) 35.07 2/11/2024 -
S.D.