Company: AVNT
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001122976-25-000019
Chunk: 36

Company: AVIENT CORP
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 36
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 non-employee Director compensation by the Consultant against market data;

• Emphasis on equity in the overall compensation mix to support shareholder alignment;

• Shareholder-approved limit on cash and equity compensation to non-employee Directors under our Amended and Restated 2020 Equity and Incentive Compensation Plan (the "2020 Plan"); and

• Robust stock ownership guideline set at 12,500 shares for each non-employee Director (which amount is equivalent to more than four times the annual cash retainer, based on the Company's closing stock price on December 31, 2024 of $40.86).

Non-Employee Director Retainer and Meeting Fees

In 2024, we paid our non-employee Directors a retainer at an annual rate of $257,500 (payable in quarterly installments in arrears) consisting of $110,000 in cash and $147,500 in targeted value of fully vested common shares (subject to rounding). In 2024, the Compensation Committee analyzed competitive market data provided by the Consultant relating to both the cash retainer (including the additional cash retainers for the Non-Executive Chairman and committee chairs, and unscheduled meeting fees) and the equity award value. These compensation elements were compared against Avient’s peer group (as described in the "Compensation Discussion and Analysis"), as well as a general industry group consisting of 102 comparably-sized general industry (excluding financial services and utilities) companies based on median revenues. Following this review, effective for compensation paid starting in the third quarter of 2024, the Compensation Committee implemented the following changes: (1) increase in annual equity award value to each non-employee Director from $140,000 to $155,000; and (2) increase in Audit Committee Chair retainer from $20,000 to $25,000, increase in Compensation Committee Chair retainer from $15,000 to $20,000, increase in Governance and Corporate Responsibility Committee Chair retainer from $15,000 to $20,000, and increase in Environmental, Health and Safety Committee Chair retainer from $15,000 to $20,000. The Compensation Committee determined that such changes were appropriate to account for increases in the market range for total compensation paid to directors and to keep the equity retainer aligned with the market range. Other than as set forth above, no other changes were made to non-employee Director compensation.

No fees are paid for attendance at regularly scheduled board meetings. We pay individual meeting fees only as follows