https://www.avient.com/sites/default/files/2023-03/2023 Avient Bookmarked Proxy Statement - FINAL.pdf
CORPORATE GOVERNANCE
PROXY STATEMENT 2023 | Annual Meeting of Shareholders 49
Audit Committee—Primary Responsibilities and Requirements
Meets with appropriate financial and legal personnel and independent
auditors to review our corporate accounting, internal controls, financial
reporting and compliance with legal and regulatory requirements
NUMBER OF
MEETINGS IN 2022: 7
Exercises oversight of our independent auditors, internal auditors and
financial management
Appoints the independent auditors to serve as auditors in examining our
corporate accounts
COMMITTEE MEMBERS:
R.E.
The payment date will
be a date in 2025 determined by the Compensation Committee (or its authorized delegate), which will
occur no later than March 15, 2025.
Garratt
2/10/2020 — — — — — 6,764 228,353 — —
2/08/2021 — — — — — 5,274 178,050 — —
2/14/2022 — — — — — 4,667 157,558 — —
2/04/2015 9,200 — — 38.27 2/4/2025 — — — —
2/15/2017 13,250 — — 34.10 2/15/2027 — — — —
2/14/2018 11,050 — — 41.89 2/14/2028 — — — —
2/11/2019 18,200 — — 31.54 2/11/2029 — — — —
2/10/2020 13,100 6,550 — 31.48 2/10/2030 — — — —
2/08/2021 6,716 13,434 — 42.27 2/08/2031 — — — —
2/14/2022 — — 16,000 52.64 2/14/2032 — — — —
L.K.
https://www.avient.com/sites/default/files/resources/PolyOne%25202017%2520Proxy%2520Statement.PDF
NOTICE OF 2017
ANNUAL MEETING OF SHAREHOLDERS
AND PROXY STATEMENT
PolyOne Corporation
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, 33587 Walker Road, Avon Lake, Ohio 44012.
Outstanding Equity Att wards at 2016 Fiscal Year-End
Option
Exercise
Price
($)
((e))
Option
Expiration
Date
((f))ff
Market
Value of
Shares or
Units of
Stock That
Have Not
Vested
($)
((h))
Equity Incentivtt e
PlanAwards:
Marketor Payout
Value of Unearned
Shares,Units ot r
Othertt Rights ttt hatt t
Have NotVested
($)
((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.