Company: AVNT
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001122976-25-000019
Chunk: 48

Company: AVIENT CORP
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 48
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bun – $550,000; Mr. Pederson – $510,000; and Mr. Garratt – $510,000. In connection with her appointment as Senior Vice President, General Counsel and Secretary, Ms. Sanders' initial base salary was established at $465,000 through negotiation and generally guided by comparative compensation information as discussed above.

2024 Annual Incentive . We provided an annual cash incentive opportunity for 2024 (the "2024 Annual Incentive Program") under the 2020 Plan to (1) reward our Named Executive Officers for achieving specific performance goals that would advance our profitability, (2) drive key business results, and (3) recognize individuals based on their contributions to those results. The Named Executive Officers’ 2024 individual annual incentive opportunities (expressed as a percentage of base pay) that were approved by the Compensation Committee and effective for the 2024 Annual Incentive Program were as follows: Dr. Khandpur – 120%; Ms. Beggs – 75%; Mr. Rathbun – 75%; Ms. Sanders – 60%; Mr. Pederson – 65%; and Mr. Garratt – 65%. Dr. Khandpur and Ms. Sanders participated in this program for the first time in 2024 based on negotiations at the time they became Avient officers.

The Compensation Committee determined, after a thorough evaluation of possible plan designs and performance measures, that we would maintain generally the same fundamental annual incentive design in 2024 that we used in 2023. The Compensation Committee's evaluation demonstrated that the following metrics would be the most critical elements of Avientʼs performance:

• Adjusted Operating Income . Adjusted operating income was defined as operating income excluding special items (as noted on Appendix A).

• Working Capital as a Percentage of Sales . Working capital as a percentage of sales was calculated by taking the average 13 months of total Company working capital divided by the sum of 12 months of 2024 total Company sales, where working capital equals (1) trade accounts receivable (2) plus inventory (3) minus trade accounts payable.

• Sustainability Metrics . The specific sustainability metrics were determined by the Compensation Committee and were generally designed to: (1) improve employee safety and employee engagement; and (2) reduce energy and waste intensity.

The payouts under the 2024 Annual Incentive Program were based on attainment with respect to target goals set for each financial performance measure and, with respect to the sustainability metrics, included