Company: AVNT
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001122976-25-000019
Chunk: 58

Company: AVIENT CORP
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 58
---
 Benefits . We provide other benefits to the Named Executive Officers that we believe are necessary to compete for executive talent. The additional benefits for the Named Executive Officers generally consist of limited reimbursement of expenses for financial planning and tax preparation and an annual physical examination. The specific amounts attributable to the 2024 other benefits provided to the Named Executive Officers are set forth in the “All Other Compensation” column of the 2024 Summary Compensation Table of this proxy statement. The benefit allowance and reimbursement of expenses for financial planning/tax preparation are treated as taxable income to the Named Executive Officers and are not grossed up by Avient. Tax gross-ups are provided for imputed income for spouse/guest travel.

We also provide other benefits such as medical, dental, life insurance and disability coverage to each United States-based Named Executive Officer, which are identical to the benefits provided to all other eligible United States-based employees (as defined in the plan document). We provide vacation and paid holidays to all employees, including the Named Executive Officers. The Named Executive Officers were each eligible for an annualized rate of four weeks of vacation in 2024.

We also provide additional benefits to our Named Executive Officers in special circumstances, such as the payment of relocation expenses, housing, and tax preparation fees and tax equalization costs in the event of an expatriate assignment. These expatriate benefits are provided to all employees who take an international assignment. In 2024, Mr. Garratt was the only Named Executive Officer on an expatriate assignment and, as a result, received expatriate benefits under our Expatriate Policy consistent with benefits provided to other Company expatriates.

Appointment of Ms. Sanders . On April 29, 2024, Ms. Sanders was appointed as Senior Vice President, General Counsel and Secretary. In connection with her appointment, the Compensation Committee determined to provide Ms. Sanders with an initial base salary rate of $465,000 per year, a sign-on cash payment of $170,000 and the time-based grant of 20,000 RSUs described above. The sign-on cash payment and the RSUs were provided in lieu of Ms. Sanders' participation in our standard 2024 long-term incentive program award. Further, Ms. Sanders began participation in 2024 in Avient’s annual cash incentive program as described above, will begin participation in Avient's long-term equity incentive program (with a target award of 130% of annual base salary) starting in 2025, and will participate in Avient’s other standard benefits