Statement of Changes in Beneficial Ownership (4)
February 15 2022 - 5:16PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Garratt Michael A |
2. Issuer Name and Ticker or Trading Symbol
AVIENT CORP
[
AVNT
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) SVP, President CAI - EMEA |
(Last)
(First)
(Middle)
AVIENT CENTER, 33587 WALKER ROAD |
3. Date of Earliest Transaction
(MM/DD/YYYY)
2/11/2022 |
(Street)
AVON LAKE, OH 44012
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 2/11/2022 | | M | | 5800 | A | (1) | 24610 (2) | D | |
Common Stock | 2/11/2022 | | F | | 2646 (3) | D | $52.64 | 21964 | D | |
Common Stock | | | | | | | | 14290.129 | I | Supplemental Plan (4) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | (1) | 2/11/2022 | | M | | | 5800 | 2/11/2022 | 2/11/2022 | Common Stock | 5800 | (1) | 0 | D | |
Restricted Stock Units | (1) | 2/14/2022 | | A | | 4550 | | 2/14/2025 | 2/14/2025 | Common Stock | 4550 | $0 | 4550 | D | |
Stock Appreciation Rights | $52.64 | 2/14/2022 | | A | | 16000 | | (5) | 2/14/2032 | Common Stock | 16000 | $0 | 16000 | D | |
Explanation of Responses: |
(1) | Each restricted stock unit represents a contingent right to receive one share of Avient common stock. |
(2) | Includes dividend equivalents earned with respect to the vested restricted stock units. |
(3) | Represents shares of Avient common stock that were withheld solely to satisfy the tax withholding obligation applicable to the vesting of restricted stock units on February 11, 2022. |
(4) | The information in this report is based on a plan statement as of February 11, 2022. |
(5) | SARs become exercisable and vest only upon the achievement of both price and time requirements. To vest, each one-third of the grant must attain 10%, 15% and 20% stock appreciation, respectively (which must be maintained for a minimum of thirty consecutive trading days) from the grant date closing price of $52.64 per share and no more than one-third of the grant can vest per year during the first three years. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Garratt Michael A AVIENT CENTER 33587 WALKER ROAD AVON LAKE, OH 44012 |
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| SVP, President CAI - EMEA |
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Signatures
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/s/ Lisa K. Kunkle, Power of Attorney For: Michael A Garratt | | 2/15/2022 |
**Signature of Reporting Person | Date |
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