SEC Form 4 · accession 0001127602-17-006965
AVIENT CORP · AVNT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joel R. Rathbun
Officer — SVP, Mergers & Acquisitions
Period of report
Feb 15, 2017
Accepted (ET)
Feb 17, 2017 · 4:48 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001122976
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1 | — | Feb 15, 2017 | A | 3,350 | A | Feb 15, 2020 | Feb 15, 2020 | Common Stock | 3,350 | 3,350 | D |
| Stock Appreciation RightsF2 | $34.10 | Feb 15, 2017 | A | 10,100 | A | — | Feb 15, 2027 | Common Stock | 10,100 | 10,100 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of PolyOne common stock.
- F2SARs 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 $34.10 per share and no more than one-third of the grant can vest per year during the first three years.