AVNT 10-K Annual Report Dec. 31, 2024 | Alphaminr
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AVNT 10-K Fiscal year ended Dec. 31, 2024

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AVIENT CORP
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TABLE OF CONTENTS
Part IprintItem 1. BusinessprintItem 1A. Risk FactorsprintItem 2, PropertiesprintItem 1B. Unresolved Staff CommentsprintItem 1C. CybersecurityprintItem 2. PropertiesprintItem 3. Legal ProceedingsprintItem 4. Mine Safety DisclosuresprintPart IIprintItem 5. Market For Registrant S Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity SecuritiesprintItem 6. [reserved]printItem 7. Management S Discussion and Analysis Of Financial Condition and Results Of OperationsprintItem 7A. Quantitative and Qualitative Disclosures About Market RiskprintItem 8. Financial Statements and Supplementary DataprintNote 1 Description Of Business and Summary Of Significant Accounting PoliciesprintNote 2 Discontinued OperationsprintNote 3 Goodwill and Intangible AssetsprintNote 4 Employee Separation and Restructuring CostsprintNote 5 Financing ArrangementsprintNote 6 Leasing ArrangementsprintNote 7 Inventories, NetprintNote 8 Property, NetprintNote 9 Other Balance Sheet LiabilitiesprintNote 10 Employee Benefit PlansprintNote 11 Commitments and ContingenciesprintNote 12 Income TaxesprintNote 13 Share-based CompensationprintNote 14 Segment InformationprintNote 15 Derivatives and HedgingprintNote 16 Subsequent EventsprintItem 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureprintItem 9A. Controls and ProceduresprintItem 9B. Other InformationprintItem 9C. Disclosure Regarding Foreign Jurisdictions That Prevent InspectionsprintPart IIIprintItem 10. Directors, Executive Officers and Corporate GovernanceprintItem 11. Executive CompensationprintItem 12. Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder MattersprintItem 13. Certain Relationships and Related Transactions, and Director IndependenceprintItem 14. Principal Accountant Fees and ServicesprintPart IVprintItem 15. Exhibits and Financial Statement SchedulesprintItem 16. Form 10-k Summaryprint

Exhibits

3.1 Amended and Restated Articles of Incorporation of Avient Corporation (as amended through June 30, 2020) (incorporated by reference to Exhibit 3.1 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2020, SEC File No. 1-16091) 3.2 Avient Corporation Regulations (amended and restated, effective May 11, 2023) (incorporated by reference to Exhibit 3.1 to the Companys Current Report on Form 8-K filed on May 16, 2023, SEC File No. 1-16091) 4.1 Indenture, dated August 10, 2022, between Avient Corporation and U.S. Bank Trust Company, National Association as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on August 10, 2022, SEC File No. 1-16091) 4.2 Indenture, dated September 19, 2024, between Avient Corporation and U.S. Bank Trust Company, National Association as trustee (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on September 19, 2024, SEC File No. 1-16091) 4.3 Description of Securities (incorporated by reference to Exhibit 4.2 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, SEC File No. 1-16091). 10.1 Third Amended and Restated Credit Agreement, dated June 28, 2019, by and among PolyOne Corporation, the subsidiaries of PolyOne Corporation party thereto, Wells Fargo Capital Finance, LLC, as administrative agent, and the various lenders and other agents party thereto (incorporated by reference to Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, SEC File No. 1-16091) 10.2 First Amendment to Third Amended and Restated Credit Agreement, dated as of October 26, 2021, by and among the lenders party thereto, Wells Fargo Capital Finance, LLC, as administrative agent for the lenders, Avient Corporation, NEU Specialty Engineered Materials, LLC, Avient Canada ULC, and PolyOne S..r.l.(incorporated by reference to Exhibit 10.2 to the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, SEC File No. 1-16091) 10.3 Second Amendment to Third Amended and Restated Credit Agreement, dated as of April 3, 2023, by and among the lenders party thereto, Wells Fargo Capital Finance, LLC, as administrative agent for the lenders, Avient Corporation, NEU Specialty Engineered Materials, LLC, Avient Canada ULC, and Avient S.a.r.l. (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, SEC File No. 1-16091) 10.4 Credit Agreement, dated November 12, 2015, by and amongPolyOneCorporation, as borrower, Citibank, N.A., as administrative agent, each of Citigroup Global Markets Inc., Wells Fargo Securities LLC, Goldman, Sachs & Co., HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC, as joint-lead arrangers and joint-book managers, Jefferies Finance LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc., as co-managers, and several other commercial lending institutions that are parties thereto (incorporated by reference to Exhibit10.6 to the Companys Annual Report on Form10-K for the fiscal year ended December31, 2015, SEC File No.1-16091) 10.5 Amendment Agreement No. 1 to the Credit Agreement, dated as of June 15, 2016, amongPolyOne Corporation,thesubsidiaries ofPolyOne Corporation party thereto,the existing lenders under the Credit Agreement, andCitibank, N.A., as administrative agentand theAdditional Term B-1 Lender(incorporated by reference to Exhibit 10.2 to the Companys Quarterly Report on Form 10-Q for the quarter ended June 30,2016, SEC File No. 16091) 10.6 Amendment Agreement No. 2, dated August 3, 2016, by and amongPolyOneCorporation, the subsidiaries ofPolyOneCorporation party thereto, Citibank, N.A., as administrative agent, andCitibank, N.A., as the incremental term lender(incorporated by reference to Exhibit 10.1 to the Companys Current Report on Form 8-K filed on August 5, 2016, SEC File No. 1-16091) 10.7 Amendment Agreement No. 3, dated January 24, 2017, by and amongPolyOneCorporation, the subsidiaries ofPolyOneCorporation party thereto,the existing lenders under the Credit Agreement, andCitibank, N.A., as administrative agentand theAdditional Term B-2 Lender(incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, SEC File No. 1-16091) 10.8 Amendment Agreement No. 4, dated August 15, 2017, by and amongPolyOneCorporation, the subsidiaries ofPolyOneCorporation party thereto,the existing lenders under theCredit Agreement, andCitibank, N.A., as administrative agentand theAdditional Term B-3 Lender(incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, SEC File No. 1-16091) 10.9 Amendment Agreement No. 5, dated April 11, 2018, by and among PolyOne Corporation, the subsidiaries of PolyOne Corporation party thereto,the existing lenders under the Credit Agreement,Citibank, N.A., as administrative agent, andSunTrust Bank, as the AdditionalTermB-4 Lender(incorporated by reference to Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended June 30, 2018, SEC File No. 1-16091) 10.10 Amendment Agreement No.6, dated November 9, 2018, by and among PolyOne Corporation, the subsidiaries of PolyOne Corporation party thereto,the existinglenders under the Credit Agreement,Citibank, N.A., as administrative agent, andWells Fargo Bank, National Association, as the Additional Term B-5 Lender(incorporated by reference to Exhibit 10.1 to the Companys Current Report on Form 8-K filed on November 13, 2018, SEC File No. 1-16091) 10.11 Amendment Agreement No. 7, dated as of August 29, 2022, by and among Avient Corporation,the subsidiaries of Avient Corporation party thereto,Citibank, N.A., as administrative agent,andthe Term B-6 Lenders party thereto(incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on September 1, 2022, SEC File No. 1-16091) 10.12 Amendment Agreement No. 8, dated August 16, 2023, by and among Avient Corporation, the subsidiaries of Avient Corporation party thereto,the existing lenders under the Credit Agreement,Citibank, N.A., as administrative agent,andMorgan Stanley Bank, N.A., as the Amendment No. 8 Additional Term Lender(incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on August 17, 2023, SEC File No. 1-16091) 10.13 Amendment Agreement No.9, datedas ofApril 9, 2024, by and among Avient Corporation, thesubsidiaries of Avient Corporation party thereto, the existinglenders underthe Credit Agreement, andCitibank, N.A., as theadministrative agentandas the Amendment No.9Additional Term Lender(incorporated by reference to Exhibit 10.1 to the Company'sQuarterlyReport on Form10-Qfor the quarterly periodended March 31, 2024, SEC File No. 1-16091) 10.15+** First Amendment to the Avient Supplemental Retirement Benefit Plan (As Amended and Restated Effective January 1, 2014), dated as of March 16, 2016; Amendment No. 2 to the Avient Supplemental Retirement Benefit Plan (As Amended and Restated Effective January 1, 2014), dated as of December 19, 2018; and Amendment No. 3 to the Avient Supplemental Retirement Benefit Plan (As Amended and Restated Effective January 1, 2014), dated as of April 18, 2019; and Amendment No. 4 to the Avient Supplemental Retirement Benefit Plan (As Amended and Restated Effective January 1, 2014), dated as of December 18, 2019 10.17+ Avient Corporation Deferred Compensation Plan for Non-Employee Directors (As Amended and Restated Effective July 15, 2021) (incorporated by reference to Exhibit 10.1 of the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, SEC File No. 1-16091) 10.18+ Form of Management Continuity Agreement for Executive Officers after 2011 (incorporated by reference to Exhibit 10.12 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2013, SEC File No. 1-16091) 10.19+** Schedule of Executive Officers and Others with Management Continuity Agreements 10.20+ AvientSupplemental Retirement Benefit Plan (As Amended and Restated Effective January 1, 2014) (incorporated by reference to Exhibit 10.14 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2013, SEC file No. 1-16091) 10.22+ Executive Severance Plan, as amended and restated effective May 15, 2014 (incorporated by reference to Exhibit10.1 to the Companys Quarterly Report on Form10-Q for the quarter ended June30, 2014, SEC File No.1-16091) 10.23+ Form of Director and Officer Indemnification Agreement (incorporated by reference to Exhibit10.1 to the Companys Current Report on Form8-K filed on July5, 2006, SEC File No.1-16091) 10.24+ Form of 2021 Award Agreement under the Avient Corporation 2020 Equity and Incentive Compensation Plan (incorporated by reference to Exhibit 10.25 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2020, SEC File No. 1-16091) 10.25+ Form of 2022 Award Agreement under the Avient Corporation 2020 Equity and Incentive Compensation Plan (incorporated by reference to Exhibit 10.26 to the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2021, SEC File No. 1-16091) 10.26+ Form of 2023 Award Agreement under the Avient Corporation 2020 Equity and Incentive Compensation Plan (incorporated by reference to Exhibit 10.27 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, SEC File No. 1-16091) 10.28+ Form of 2024 Award Agreement under the Avient Corporation 2020 Equity and Incentive Compensation Plan (incorporated by reference to Exhibit 10.29 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, SEC File No. 1-16091) 10.29+** Form of 2025 Award Agreement under the Avient Corporation 2020 Equity and Incentive Compensation Plan (Amended and Restated Effective May 11, 2023) 10.30+ Letter agreement, dated May 3, 2024, between Robert M. Patterson and Avient Corporation (incorporated by reference to Exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, SEC File No. 1-16091) 10.31+ Letter agreement, dated July 22, 2024, between Michael A. Garratt and Avient Corporation (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, SEC File No. 1-16091) 19.1** Avient Corporation Securities Trading Policy 21.1** Subsidiaries of the Company 23.1** Consent of Independent Registered Public Accounting Firm- Ernst& Young LLP 31.1** Certification of Ashish K. Khandpur, President, Chief Executive Officer and Board Member, pursuant to SEC Rules13a-14(a) and 15d-14(a), adopted pursuant to Section302 of the Sarbanes-Oxley Act of 2002 31.2** Certification ofJamie A. Beggs, SeniorVice President and Chief Financial Officer, pursuant to SEC Rules13a-14(a) and 15d-14(a), adopted pursuant to Section302 of the Sarbanes-Oxley Act of 2002 32.1* Certification pursuant to 18U.S.C. 1350, adopted pursuant to Section906 of the Sarbanes-Oxley Act of 2002, as signed by Ashish K. Khandpur, President, Chief Executive Officer and Board Member 32.2* Certification pursuant to 18U.S.C. 1350, adopted pursuant to Section906 of the Sarbanes-Oxley Act of 2002, as signed by Jamie A. Beggs, Senior Vice President and Chief Financial Officer 97.1+ Avient Corporation Compensation Clawback Policy Effective October 2, 2023 (incorporated by reference to Exhibit 97.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, SEC File No. 1-16091)