SEC Form 4 · accession 0001127602-19-005658
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 10, 2019
Accepted (ET)
Feb 13, 2019 · 4:31 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001122976
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Feb 10, 2019 | M | 3,450 | — | A | 7,700 | D | |
| Common Stock | Feb 11, 2019 | F | 1,203 | $31.49 | D | 6,497 | D |
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,F2 | — | Feb 10, 2019 | M | 3,450 | D | Feb 10, 2019 | Feb 10, 2019 | Common Stock | 3,450 | 0 | D |
| Restricted Stock UnitsF2 | — | Feb 11, 2019 | A | 5,500 | A | Feb 11, 2022 | Feb 11, 2022 | Common Stock | 5,500 | 5,500 | D |
| Stock Appreciation RightsF4 | $31.54 | Feb 11, 2019 | A | 17,150 | A | — | Feb 11, 2029 | Common Stock | 17,150 | 17,150 | D |
Explanation of responses
- F1As the vesting date fell on a weekend, the vesting transaction was executed on the following business day, February 11, 2019.
- F2Each restricted stock unit represents a contingent right to receive one share of PolyOne common stock.
- F3Includes dividend equivalents earned with respect to the vested restricted stock units.
- F4SARs 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 $31.54 per share and no more than one-third of the grant can vest per year during the first three years.