https://www.avient.com/knowledge-base/article/what-s-difference-fillers-reinforcements
Added in at volumes ranging from less than 1 percent to more than 70 percent by weight, minerals are typically mined from the earth and then refined to produce uniform particle size distribution.
https://www.avient.com/sites/default/files/2020-03/polyone-2019-annual-report.pdf
RISK
PERCEPTION
RISK
TOLERANCE
DECISION
OR
ACTION
.56 Injury Rate
65% of sites worked
injury-free
110% increase in consecutive days
injury free in the last two years
SAFETY
FIRST
50%
0
70%20
43%
Average number of
risk assessments
completed every day
Reduction in
lacerations since
2017
Reduction in
ergonomic related
injuries
Automobile
related
injuries
Reduction in
acquisition
injury rate
74424.indd main_3 3/16/20 12:25 PM
Annual Report | 2019 4
W
ith our focus on People, it has led to the creation and expansion of
Employee Resource Groups (ERGs) at PolyOne to advance diversity
and inclusion.
https://www.avient.com/sites/default/files/2022-03/Avient 2022 Proxy Statement.pdf
2022 Proxy Statement
TABLE OF CONTENTS
Message from our CEO i
Notice of 2022 Annual Meeting of Shareholders ii
Record Date ii
Voting Matters and Vote Recommendations ii
Proxy Statement 1
Proxy Summary 1
Voting and Meeting Information 1
Attendance and Participation 1
Who is Eligible to Vote 1
Advance Voting Methods 2
Voting During the Annual Meeting 2
Questions 3
Company Operating Performance 3
Our Company Culture 4
The 4Ps of Sustainability at Avient 4
Impact of our Performance on Named Executive Officer 2021 Compensation 9
Our Director Nominees and Committee Membership 11
Summary of Director Nominee Skills, Experience and Background 12
Governance Highlights 13
Proposal 1 - Election of Twelve Director Nominees to Our Board of Directors 16
Proposal 2 - Advisory Vote to Approve Named Executive Officer Compensation 23
Proposal 3 - Ratification of the Appointment of Ernst & Young LLP as Our
Independent Registered Public Accounting Firm for the Fiscal Year Ending
December 31, 2022
25
Independent Registered Public Accountant Services and Related Fee Arrangements 25
Report of the Audit Committee 26
Corporate Governance 28
Director Independence 28
Lead Director 29
Board Leadership Structure 29
Majority Voting for Directors 29
Board Oversight of Risk 29
Board Oversight of ESG and Sustainability Matters 30
Code of Ethics, Code of Conduct and Corporate Governance Guidelines 31
Related Person Transactions 31
Communication with Board 32
Board and Committees 32
Board Refreshment and Diversity 36
2021 Non-Employee Director Compensation 38
Non-Employee Director Compensation Highlights 38
Non-Employee Director Retainer and Meeting Fees 38
2021 Non-Employee Director Compensation Table 39
Option Awards Outstanding and Fully Vested Deferred Shares 40
Ownership of Avient Shares 41
Beneficial Ownership of Our Common Shares 41
Stock Ownership Guidelines for Non-Employee Directors 42
Compensation Discussion and Analysis 43
Executive Summary 43
Executive Compensation Philosophy and Objectives 46
What We Pay and Why: Elements of Compensation 49
Other Aspects of our Compensation Programs 55
Executive Compensation 59
2021 Summary Compensation Table 59
2021 Grants of Plan-Based Awards 61
Outstanding Equity Awards at 2021 Fiscal Year-End 63
2021 Option Exercises and Stock Vested 64
2021 Non Qualified Deferred Compensation 64
Potential Payments Upon Termination or Change of Control 65
CEO Pay Ratio Disclosure 70
Compensation Committee Interlock and Insider Participation 70
Risk Assessment of the Compensation Programs 71
Compensation Committee Report 71
Miscellaneous Provisions 72
Voting at the Meeting 72
Revoking a Proxy 72
Shareholder Proposals 73
Proxy Solicitation 73
Appendix A A-1
i
MESSAGE FROM OUR CEO
March 29, 2022
Dear Fellow Shareholder:
We have decided to hold the Annual Meeting virtually because doing so enables greater shareholder
attendance and participation from any location around the world, and reduces the cost and
environmental impact of the Annual Meeting.
Beggs – 70%; and Messrs.
EXECUTIVE COMPENSATION
70 PROXY STATEMENT 2022 | Annual Meeting of Shareholders
(6) Continuation of health and welfare benefits, or comparable benefits, are provided under the Executive Severance Plan in the event of an involuntary
termination without cause or the Continuity Agreement in the event of an involuntary termination following a change of control
https://www.avient.com/sites/default/files/2025-03/2025 Proxy Statement.pdf
Abernathy 70 2018 Yes M M
Richard H.
Director since: 2018
Age: 70
Current Public Company
Directorships:
• Haemonetics Corporation
Former Directorships:
• Halyard Health, Inc
With respect to SARs granted in 2022, the table reflects a value of $0 for the SAR
EXECUTIVE COMPENSATION
PROXY STATEMENT 2025 | Annual Meeting of Shareholders 70
awards, as the 2022 SAR grants have not met any of the applicable stock price hurdles and the grant price in 2022 exceeds the December 31,
2024 closing stock price
https://www.avient.com/sites/default/files/2020-10/tpe-injection-molding-guide.pdf
Typical Sprue Designs for Various Hardness Values
Typical TPE Hardness
Range
Most Common Sprue Puller Types Figure
>50 Shore A Tapered, Pin, Z-Type 3, 4 and 6
40-70 Shore A Undercut 5
5-40 Shore A Pine Tree 7
Hot sprue bushings and extended nozzles may also be used with GLS TPEs.
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
AVIENT: WHO WE ARE
38
21
9
34
• U.S. and Canada
• Latin America
• Europe, Middle East & Africa
• Asia
25,000+
CUSTOMERS
Headquartered in Avon Lake, OH
(Cleveland)
8,700+ employees
100+ manufacturing plants
Key Financial Data
2022E Sales $5.1 billion
2022E EBITDA $635 million
2022E EPS $3.50
>70%
ARE CUSTOMIZED SOLUTIONS
TO UNIQUE SPECIFICATIONS
of
sales
3
W H O W E A R E – V I S I O N , S T R AT E G Y, C U LT U R E
4
Avient Corporation (NYSE: AVNT) provides
specialized and sustainable material solutions that
transform customer challenges into opportunities,
bringing new products to life for a better world.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520Investor%2520Day%25205-18-15.pdf
url=http://appliancerepair-salt-lake-city.com/sub-zero-appliance-repair-salt-lake-city/subzero-3d-logo/&rct=j&frm=1&q=&esrc=s&sa=U&ei=-vQmVb-MCefIsQTwwYHQAg&ved=0CBYQ9QEwAA&sig2=qX2fTujBfVO6eYzgLN-xVg&usg=AFQjCNHoUQFUZn7iH7fwVxOz9-WdcIpngA
PolyOne Corporation Page 65
Megatrends Aligned with Key End Markets
Increasing
Energy
Efficiency
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Distribution
PolyOne Corporation Page 66
Geographic Growth Opportunities
• Currently 10% of POD’s revenue is
generated from Mexico
• Existing business is served “from
the border”
• New Mexico district & warehouse
will drive transportation growth in
Central Mexico
• Expansion in China resulted from
growing with our NA HC customers
• Investing in sales deployments
• Localizing supply
• Gaining Share
PolyOne Distribution
PolyOne Corporation Page 67
Going Beyond Distribution
WeatherTech® –
Polymer BumpStep®
BEDRUG™ – Tri-fold
Truck Bed Cover
CeQur PaQ – Type 2
Insulin Delivery Device
PolyOne Distribution
PolyOne Corporation Page 68
Platinum Vision
2.6%
4.6%
6.1%
6.5 - 7.5%
2006 2010 2014 2020
Platinum
Vision
World Class Distribution Margin
Accelerating Growth
PolyOne Distribution
Market Growth/
Megatrends
Commercial Investment Cross-Selling &
Collaboration
Growth in
Targeted Areas
PolyOne Corporation Page 69
Summary
• Motivated and well trained POD sellers
making the calls / collaborating with other
PolyOne businesses
• Representing a world class supplier line card
• Delighted customers and
suppliers who choose us
to represent them
PolyOne Distribution
PolyOne Corporation Page 70
Financial Highlights
Bradley C.
https://www.avient.com/sites/default/files/2024-03/2024 Proxy Statement_March.pdf
COMPENSATION DISCUSSION AND ANALYSIS
PROXY STATEMENT 2024 | Annual Meeting of Shareholders 49
The 2023 Corporate and Business Segment Annual Plan weightings reflect adjustments from 2022 as
follows:
Corporate Annual Incentive Program Measure 2022 Weighting 2023 Weighting
Adjusted Operating Income (Consolidated) 60% 70%
Working Capital as a % of Sales 20% 20%
Sustainability Objectives 20% 10%
Business Segment Annual Incentive Program Measure 2022 Weighting 2023 Weighting
Adjusted Operating Income (Consolidated) 20% 10.5%
Adjusted Operating Income (Business Segment results) 40% 59.5%
Working Capital as a % of Sales (Business Segment results) 20% 20%
Sustainability Objectives 20% 10%
We set appropriate performance goals in 2023 under the 2023 Annual Incentive Program that focused our
efforts on those factors that we believed were critical to our ongoing success, including earnings
improvement, cash generation from working capital, efficiencies in our operations, and the advancement
of sustainability initiatives.
Total attainment for these participants under the 2023
Annual Incentive Program was 52.5%, with the components consisting of (dollars in millions):
COMPENSATION DISCUSSION AND ANALYSIS
50 PROXY STATEMENT 2024 | Annual Meeting of Shareholders
2023 Corporate Plan Annual Incentive Program* (Patterson, Beggs, Kunkle, Rathbun)
Measure Weighting Threshold Target Maximum Results Payout %
Adjusted Operating
Income (consolidated)
70% $314.5 $338.6 $399.6 $312.8 0.0%
Working Capital as a %
of Sales
20% 12.4% 11.7% 10.7% 10.3% 200.0%
Sustainability
Objectives
10%
See above disclosure for more information about
goals and achievements
125.0%
Total Attainment 52.5%
*Adjusted operating income (performance measures and results) reported in the table above was calculated with adjustments for special items (as noted
on Appendix A) pursuant to the terms of the awards and as approved by the Compensation Committee.
Although SARs granted in 2023, 2022 and 2021 would also be
EXECUTIVE COMPENSATION
70 PROXY STATEMENT 2024 | Annual Meeting of Shareholders
subject to prorata vesting in cases of retirement, disability or death, and full vesting in the case of an involuntary termination following a change in control,
the table reflects a value of $0 for the SAR awards, as the grant price in each of these years exceeds the December 29, 2023 closing stock price
https://www.avient.com/sites/default/files/2024-10/Avient CDP Climate Change %26 Water Submission 20241001.pdf
In 2023, Avient collected sustainable assessments for 70% of our total direct spend for sourcing.
In 2023, Avient collected sustainable assessments for 70% of our
total direct spend for sourcing.
Avient successfully collected sustainable
assessments for 70% of our total direct spend for sourcing.
https://www.avient.com/sites/default/files/2024-03/2024 Proxy Statement %28Filed%29.pdf
COMPENSATION DISCUSSION AND ANALYSIS
PROXY STATEMENT 2024 | Annual Meeting of Shareholders 49
The 2023 Corporate and Business Segment Annual Plan weightings reflect adjustments from 2022 as
follows:
Corporate Annual Incentive Program Measure 2022 Weighting 2023 Weighting
Adjusted Operating Income (Consolidated) 60% 70%
Working Capital as a % of Sales 20% 20%
Sustainability Objectives 20% 10%
Business Segment Annual Incentive Program Measure 2022 Weighting 2023 Weighting
Adjusted Operating Income (Consolidated) 20% 10.5%
Adjusted Operating Income (Business Segment results) 40% 59.5%
Working Capital as a % of Sales (Business Segment results) 20% 20%
Sustainability Objectives 20% 10%
We set appropriate performance goals in 2023 under the 2023 Annual Incentive Program that focused our
efforts on those factors that we believed were critical to our ongoing success, including earnings
improvement, cash generation from working capital, efficiencies in our operations, and the advancement
of sustainability initiatives.
Total attainment for these participants under the 2023
Annual Incentive Program was 52.5%, with the components consisting of (dollars in millions):
COMPENSATION DISCUSSION AND ANALYSIS
50 PROXY STATEMENT 2024 | Annual Meeting of Shareholders
2023 Corporate Plan Annual Incentive Program* (Patterson, Beggs, Kunkle, Rathbun)
Measure Weighting Threshold Target Maximum Results Payout %
Adjusted Operating
Income (consolidated)
70% $314.5 $338.6 $399.6 $312.8 0.0%
Working Capital as a %
of Sales
20% 12.4% 11.7% 10.7% 10.3% 200.0%
Sustainability
Objectives
10%
See above disclosure for more information about
goals and achievements
125.0%
Total Attainment 52.5%
*Adjusted operating income (performance measures and results) reported in the table above was calculated with adjustments for special items (as noted
on Appendix A) pursuant to the terms of the awards and as approved by the Compensation Committee.
Although SARs granted in 2023, 2022 and 2021 would also be
EXECUTIVE COMPENSATION
70 PROXY STATEMENT 2024 | Annual Meeting of Shareholders
subject to prorata vesting in cases of retirement, disability or death, and full vesting in the case of an involuntary termination following a change in control,
the table reflects a value of $0 for the SAR awards, as the grant price in each of these years exceeds the December 29, 2023 closing stock price