https://www.avient.com/sites/default/files/resources/PolyOne%25202015%2520Annual%2520Report.pdf
DOLLAR
S
ADJUSTED EARNINGS PER SHARE*
*2009 has not been restated for subsequent changes in accounting principles or discontinued operations
.60
.50
.40
.30
.20
.10
0
2009 2010 2011 2012 2013 2014 2015
25 CO
NSECU
TIVE Q
UARTE
RS OF
YOY E
PS GR
OWTH
0 + 43 + 49 + 52 + 59 + 66 + 7622 + 47 + 52 + 61 + 61 + 74 + 8739 + 48 + 46 + 61 + 60 + 74 + 8737 + 36 + 37 + 49 + 51 + 63 + 68PERCENTAGE
ADJUSTED CONSOLIDATED OPERATING MARGIN
12%
10%
8%
6%
4%
2%
0%
2009 2010 2011 2012 2013 2014 2015
8 2.8%
5.2%
5.6%
6.7%
6.9%
8.3%
9.5%
4
products introduced in the last five years.
Rodriguez 48 Senior Vice President, Chief Human Resource Officer
John V.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Index to Financial Statement
Page
Management’s Report 41
Reports of Independent Registered Public Accounting Firm 42-43
Consolidated Financial Statements:
Consolidated Statements of Income 44
Consolidated Statements of Comprehensive Income 45
Consolidated Balance Sheets 46
Consolidated Statements of Cash Flows 47
Consolidated Statements of Shareholders’ Equity 48
Notes to Consolidated Financial Statements 49-79
40 POLYONE CORPORATION
MANAGEMENT’S REPORT
The management of PolyOne Corporation is responsible for preparing the consolidated financial
statements and disclosures included in this Annual Report on Form 10-K.
https://www.avient.com/sites/default/files/2022-08/Avient CDP_Climate_Change_Questionnaire_2022.pdf
Initiative category & Initiative type
Energy efficiency in buildings
Avient CDP Climate Change Questionnaire 2022 Friday, July 29, 2022
42
Lighting
Estimated annual CO2e savings (metric tonnes CO2e)
330.9
Scope(s) or Scope 3 category(ies) where emissions savings occur
Scope 2 (location-based)
Scope 2 (market-based)
Voluntary/Mandatory
Voluntary
Annual monetary savings (unit currency – as specified in C0.4)
318,550
Investment required (unit currency – as specified in C0.4)
717,464
Payback period
1-3 years
Estimated lifetime of the initiative
6-10 years
Comment
Initiative category & Initiative type
Energy efficiency in buildings
Insulation
Estimated annual CO2e savings (metric tonnes CO2e)
0.11
Scope(s) or Scope 3 category(ies) where emissions savings occur
Scope 1
Voluntary/Mandatory
Voluntary
Annual monetary savings (unit currency – as specified in C0.4)
2,250
Investment required (unit currency – as specified in C0.4)
11,610
Payback period
4-10 years
Estimated lifetime of the initiative
Avient CDP Climate Change Questionnaire 2022 Friday, July 29, 2022
43
11-15 years
Comment
Initiative category & Initiative type
Energy efficiency in buildings
Heating, Ventilation and Air Conditioning (HVAC)
Estimated annual CO2e savings (metric tonnes CO2e)
9.33
Scope(s) or Scope 3 category(ies) where emissions savings occur
Scope 1
Voluntary/Mandatory
Voluntary
Annual monetary savings (unit currency – as specified in C0.4)
76,653
Investment required (unit currency – as specified in C0.4)
203,000
Payback period
1-3 years
Estimated lifetime of the initiative
11-15 years
Comment
Initiative category & Initiative type
Energy efficiency in buildings
Motors and drives
Estimated annual CO2e savings (metric tonnes CO2e)
5.06
Scope(s) or Scope 3 category(ies) where emissions savings occur
Scope 2 (location-based)
Scope 2 (market-based)
Voluntary/Mandatory
Voluntary
Annual monetary savings (unit currency – as specified in C0.4)
Avient CDP Climate Change Questionnaire 2022 Friday, July 29, 2022
44
2,280
Investment required (unit currency – as specified in C0.4)
541
Payback period
Intensity figure
0.000021695
Metric numerator (Gross global combined Scope 1 and 2 emissions, metric
tons CO2e)
104,134
Metric denominator
unit total revenue
Metric denominator: Unit total
4,800,000,000
Scope 2 figure used
Market-based
% change from previous year
30.6
Direction of change
Decreased
Reason for change
Our revenue increased by 48% while our overall scope 1+2 emissions increased by 3%,
leading to a 30.60% decrease of the intensity overall.
https://www.avient.com/sites/default/files/2024-03/2024 Proxy Statement_March.pdf
2024 Proxy Statement
PROXY STATEMENT 2024
NOTICE OF 2024 ANNUAL MEETING OF
SHAREHOLDERS AND PROXY STATEMENT
TABLE OF CONTENTS
Letter to Shareholders i
Notice of 2024 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 3
The 4Ps of Sustainability at Avient 4
Impact of our Performance on Named Executive Officer 2023 Compensation 8
Our Director Nominees and Committee Membership 10
Summary of Director Nominee Skills, Experience and Background 12
Governance Highlights 14
Proposal 1 - Election of Twelve Director Nominees to Our Board of Directors 16
Proposal 2 - Approval, on an Advisory Basis, of 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, 2024
25
Independent Registered Public Accountant Services and Related Fee Arrangements 25
Report of the Audit Committee 26
Corporate Governance 28
Director Independence 28
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 the Board 32
Board and Committees 32
Board Refreshment and Diversity 37
2023 Non-Employee Director Compensation 38
Non-Employee Director Compensation Highlights 38
Non-Employee Director Retainer and Meeting Fees 38
2023 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 48
Other Aspects of our Compensation Programs 54
Executive Compensation 59
2023 Summary Compensation Table 59
2023 Grants of Plan-Based Awards 62
Outstanding Equity Awards at 2023 Fiscal Year-End 64
2023 Option Exercises and Stock Vested 65
2023 Non Qualified Deferred Compensation 65
Potential Payments Upon Termination or Change of Control 66
CEO Pay Ratio Disclosure 71
Pay Versus Performance Disclosure 72
Compensation Committee Interlocks and Insider Participation 75
Risk Assessment of the Compensation Programs 75
Compensation Committee Report 76
Miscellaneous Provisions 77
Internet Availability of Proxy Materials 77
Voting at the Meeting 77
Revoking a Proxy 78
Shareholder Proposals 78
Proxy Solicitation 79
Householding of Proxy Materials 79
Appendix A A-1
In this proxy statement, statements that are not reported financial results or other historical information are “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995.
COMPENSATION DISCUSSION AND ANALYSIS
48 PROXY STATEMENT 2024 | Annual Meeting of Shareholders
2023 Annual Incentive.
https://www.avient.com/sites/default/files/resources/PolyOne%25202012%2520Annual%2520Report.pdf
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Index to Financial Statements
Page
Management’s Report 40
Reports of Independent Registered Public Accounting Firm 41-42
Consolidated Financial Statements:
Consolidated Statements of Income 43
Consolidated Statements of Comprehensive Income 44
Consolidated Balance Sheets 45
Consolidated Statements of Cash Flows 46
Consolidated Statements of Shareholders’ Equity 47
Notes to Consolidated Financial Statements 48-78
POLYONE CORPORATION 39
MANAGEMENT’S REPORT
The management of PolyOne Corporation is responsible for preparing the consolidated financial
statements and disclosures included in this Annual Report on Form 10-K.
We also record bad debt allowances for
all other customers based on a variety of factors including the length of time the receivables are past
48 POLYONE CORPORATION
due, the financial health of the customer, economic conditions and historical experience.
https://www.avient.com/sites/default/files/2024-10/Avient CDP Climate Change %26 Water Submission 20241001.pdf
Row 18
(3.2.1) Country/Area & River basin
Chile
☑ Unknown
(3.2.2) Value chain stages where facilities at risk have been identified in this river basin
Select all that apply
☑ Direct operations
(3.2.3) Number of facilities within direct operations exposed to water-related risk in this river basin
1
(3.2.4) % of your organization’s total facilities within direct operations exposed to water-related risk in this river basin
Select from:
☑ Less than 1%
(3.2.10) % organization’s total global revenue that could be affected
Select from:
☑ Less than 1%
(3.2.11) Please explain
Data based on sites with extremely high water risk level from WRI.
48
Row 19
(3.2.1) Country/Area & River basin
Peru
☑ Unknown
(3.2.2) Value chain stages where facilities at risk have been identified in this river basin
Select all that apply
☑ Direct operations
(3.2.3) Number of facilities within direct operations exposed to water-related risk in this river basin
1
(3.2.4) % of your organization’s total facilities within direct operations exposed to water-related risk in this river basin
Select from:
☑ Less than 1%
(3.2.10) % organization’s total global revenue that could be affected
Select from:
☑ Less than 1%
(3.2.11) Please explain
Data based on sites with extremely high water risk level from WRI.
Row 48
(7.26.1) Requesting member
Select from:
(7.26.2) Scope of emissions
Select from:
☑ Scope 3
(7.26.3) Scope 3 category(ies)
Select all that apply
☑ Category 2: Capital goods ☑ Category 1: Purchased goods and services
☑ Category 6: Business travel ☑ Category 10: Processing of sold products
☑ Category 7: Employee commuting ☑ Category 5: Waste generated in operations
☑ Category 8: Upstream leased assets ☑ Category 12: End-of-life treatment of sold products
☑ Category 13: Downstream leased assets ☑ Category 9: Downstream transportation and distribution
271
☑ Category 3: Fuel-and-energy-related activities (not included in Scopes 1 or 2)
(7.26.4) Allocation level
Select from:
☑ Company wide
(7.26.6) Allocation method
Select from:
☑ Allocation based on the volume of products purchased
(7.26.7) Unit for market value or quantity of goods/services supplied
Select from:
☑ Metric tons
(7.26.8) Market value or quantity of goods/services supplied to the requesting member
47
(7.26.9) Emissions in metric tonnes of CO2e
704.66
(7.26.10) Uncertainty (±%)
10
(7.26.11) Major sources of emissions
NA
(7.26.12) Allocation verified by a third party?
Row 48
(9.3.1.1) Facility reference number
Select from:
☑ Facility 5
(9.3.1.3) Value chain stage
Select from:
☑ Direct operations
(9.3.1.4) Dependencies, impacts, risks, and/or opportunities identified at this facility
Select all that apply
☑ Risks
(9.3.1.5) Withdrawals or discharges in the reporting year
Select from:
☑ Yes, withdrawals and discharges
(9.3.1.7) Country/Area & River basin
Peru
☑ Other, please specify :Pacific Coast
(9.3.1.8) Latitude
547
0
(9.3.1.9) Longitude
0
(9.3.1.10) Located in area with water stress
Select from:
☑ Yes
(9.3.1.13) Total water withdrawals at this facility (megaliters)
0
(9.3.1.14) Comparison of total withdrawals with previous reporting year
Select from:
☑ About the same
(9.3.1.15) Withdrawals from fresh surface water, including rainwater, water from wetlands, rivers and lakes
0
(9.3.1.16) Withdrawals from brackish surface water/seawater
0
(9.3.1.17) Withdrawals from groundwater - renewable
0
(9.3.1.18) Withdrawals from groundwater - non-renewable
0
548
(9.3.1.19) Withdrawals from produced/entrained water
0
(9.3.1.20) Withdrawals from third party sources
0
(9.3.1.21) Total water discharges at this facility (megaliters)
0
(9.3.1.22) Comparison of total discharges with previous reporting year
Select from:
☑ About the same
(9.3.1.23) Discharges to fresh surface water
0
(9.3.1.24) Discharges to brackish surface water/seawater
0
(9.3.1.25) Discharges to groundwater
0
(9.3.1.26) Discharges to third party destinations
0
(9.3.1.27) Total water consumption at this facility (megaliters)
0
549
(9.3.1.28) Comparison of total consumption with previous reporting year
Select from:
☑ About the same
(9.3.1.29) Please explain
Avient does not externally disclose water information at the site level.
https://www.avient.com/sites/default/files/2022-03/Avient 2021 Annual Report.pdf
North Baltimore, Ohio 48.
John Midea, Jr. 57 Senior Vice President, Global Operations and Process Improvement
Woon Keat Moh 48 Senior Vice President, President of Color, Additives and Inks, Americas and Asia
Chris L.
The ABL
Amendment, among other things, (i) increased the Company’s total revolving credit line to $500 million (which may
48 AVIENT CORPORATION
be increased by up to $150 million subject to the Company meeting certain requirements and obtaining
commitments for such increase) (the Revolving Credit Facility), subject to the borrowing base limitations, (ii)
extended the maturity date of the Revolving Credit Facility to October 26, 2026 (subject to certain exceptions), (iii)
modified the borrowing base to include qualified cash subject to certain limitations, (iv) modified the applicable
margin and the unused line fee to be based on availability, and (v) modified certain negative covenants to provide
additional flexibility.
https://www.avient.com/sites/default/files/2024-03/2024 Proxy Statement %28Filed%29.pdf
2024 Proxy Statement
PROXY STATEMENT 2024
NOTICE OF 2024 ANNUAL MEETING OF
SHAREHOLDERS AND PROXY STATEMENT
TABLE OF CONTENTS
Letter to Shareholders i
Notice of 2024 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 3
The 4Ps of Sustainability at Avient 4
Impact of our Performance on Named Executive Officer 2023 Compensation 8
Our Director Nominees and Committee Membership 10
Summary of Director Nominee Skills, Experience and Background 12
Governance Highlights 14
Proposal 1 - Election of Twelve Director Nominees to Our Board of Directors 16
Proposal 2 - Approval, on an Advisory Basis, of 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, 2024
25
Independent Registered Public Accountant Services and Related Fee Arrangements 25
Report of the Audit Committee 26
Corporate Governance 28
Director Independence 28
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 the Board 32
Board and Committees 32
Board Refreshment and Diversity 37
2023 Non-Employee Director Compensation 38
Non-Employee Director Compensation Highlights 38
Non-Employee Director Retainer and Meeting Fees 38
2023 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 48
Other Aspects of our Compensation Programs 54
Executive Compensation 59
2023 Summary Compensation Table 59
2023 Grants of Plan-Based Awards 62
Outstanding Equity Awards at 2023 Fiscal Year-End 64
2023 Option Exercises and Stock Vested 65
2023 Non Qualified Deferred Compensation 65
Potential Payments Upon Termination or Change of Control 66
CEO Pay Ratio Disclosure 71
Pay Versus Performance Disclosure 72
Compensation Committee Interlocks and Insider Participation 75
Risk Assessment of the Compensation Programs 75
Compensation Committee Report 76
Miscellaneous Provisions 77
Internet Availability of Proxy Materials 77
Voting at the Meeting 77
Revoking a Proxy 78
Shareholder Proposals 78
Proxy Solicitation 79
Householding of Proxy Materials 79
Appendix A A-1
In this proxy statement, statements that are not reported financial results or other historical information are “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995.
COMPENSATION DISCUSSION AND ANALYSIS
48 PROXY STATEMENT 2024 | Annual Meeting of Shareholders
2023 Annual Incentive.
https://www.avient.com/sites/default/files/2023-03/2023 Avient Bookmarked Proxy Statement - FINAL.pdf
2023 Proxy Statement
CREATING A WORLD-CLASS, SUSTAINABLE ORGANIZATION
PROXY STATEMENT 2023
NOTICE OF 2023
ANNUAL MEETING OF SHAREHOLDERS
AND PROXY STATEMENT
TABLE OF CONTENTS
Message from our CEO i
Notice of 2023 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 2022 Compensation 9
Our Director Nominees and Committee Membership 11
Summary of Director Nominee Skills, Experience and Background 12
Governance Highlights 14
Proposal 1 - Election of Twelve Director Nominees to Our Board of Directors 17
Proposal 2 - Approval, on an Advisory Basis, of Named Executive Officer
Compensation
24
Proposal 3 - Approval, on an Advisory Basis, of the Frequency of Future Advisory
Votes to Approve Named Executive Officer Compensation
26
Proposal 4 - Approval of the Amendment and Restatement of the Avient
Corporation 2020 Equity and Incentive Compensation Plan
27
Proposal 5 - Ratification of the Appointment of Ernst & Young LLP as Our
Independent Registered Public Accounting Firm for the Fiscal Year Ending
December 31, 2023
42
Independent Registered Public Accountant Services and Related Fee Arrangements 42
Report of the Audit Committee 43
Corporate Governance 45
Director Independence 45
Lead Director 46
Board Leadership Structure 46
Majority Voting for Directors 46
Board Oversight of Risk 46
Board Oversight of ESG and Sustainability Matters 47
Code of Ethics, Code of Conduct and Corporate Governance Guidelines 48
Related Person Transactions 48
Communication with the Board 49
Board and Committees 49
Board Refreshment and Diversity 54
2022 Non-Employee Director Compensation 55
Non-Employee Director Compensation Highlights 55
Non-Employee Director Retainer and Meeting Fees 55
2022 Non-Employee Director Compensation Table 56
Option Awards Outstanding and Fully Vested Deferred Shares 57
Ownership of Avient Shares 58
Beneficial Ownership of Our Common Shares 58
Stock Ownership Guidelines for Non-Employee Directors 59
Compensation Discussion and Analysis 60
Executive Summary 60
Executive Compensation Philosophy and Objectives 63
What We Pay and Why: Elements of Compensation 65
Other Aspects of our Compensation Programs 71
Executive Compensation 74
2022 Summary Compensation Table 74
2022 Grants of Plan-Based Awards 76
Outstanding Equity Awards at 2022 Fiscal Year-End 78
2022 Option Exercises and Stock Vested 79
2022 Non Qualified Deferred Compensation 79
Potential Payments Upon Termination or Change of Control 80
CEO Pay Ratio Disclosure 85
Pay Versus Performance Disclosure 86
Compensation Committee Interlocks and Insider Participation 89
Risk Assessment of the Compensation Programs 89
Compensation Committee Report 89
Miscellaneous Provisions 90
Voting at the Meeting 90
Revoking a Proxy 91
Shareholder Proposals 91
Proxy Solicitation 92
Appendix A A-1
Appendix B B-1
MESSAGE FROM OUR CEO
March 29, 2023
Dear Fellow Shareholder:
You are cordially invited to attend and participate in the Avient Corporation 2023 Annual Meeting of
Shareholders (the “Annual Meeting”), which will be held virtually via live webcast at 9:00 a.m.
CORPORATE GOVERNANCE
48 PROXY STATEMENT 2023 | Annual Meeting of Shareholders
COMMUNICATION WITH THE BOARD
Shareholders and other interested parties who wish to communicate directly with the Board as a group,
the non-management or independent Directors as a group, or with any individual Director may do so by
writing to the Secretary, Avient Corporation, 33587 Walker Road, Avon Lake, Ohio 44012.
https://www.avient.com/sites/default/files/2022-03/Avient 2022 Proxy Statement.pdf
Financial and operating statistics for our peer group referenced during 2021
compensation decisions are summarized below:
COMPENSATION DISCUSSION AND ANALYSIS
48 PROXY STATEMENT 2022 | Annual Meeting of Shareholders
Factor Median Peer Group
Comparator 2020 Financials 2021 Avient Results
Company Revenue $4.4 billion $4.8 billion
Total Asset Size $6.2 billion $5.0 billion
Employee Numbers 6,400 8,700
Each of the companies constituting our peer group for 2021 compensation consideration met a majority
of the primary criteria that were established.
https://www.avient.com/sites/default/files/resources/PolyOne%2520Proxy%2520Statement%25202016.pdf
Threshold equates to vesting
EXECUTIVE COMPENSATION
48
in one-third of the SAR award.