Jamie A. Beggs
About Jamie A. Beggs
Jamie A. Beggs is Senior Vice President and Chief Financial Officer of Avient Corporation (AVNT), serving since August 24, 2020, with 20+ years in finance across specialty materials and diversified industries; she holds BBA and Master of Professional Accounting degrees from the University of Texas at Austin and is a Texas CPA . She also serves on International Paper’s Board of Directors, appointed May 21, 2024; age 47 . Under her finance leadership, Avient reported 2024 sales of $3.24B (+3% y/y) and adjusted EPS of $2.66 (+13% y/y), increased its dividend 5%, and delivered pay-for-performance structures anchored in adjusted operating income, working capital discipline, and sustainability metrics . Avient’s 2024 pay-versus-performance TSR measure shows a $100 initial investment valued at $125.38 vs peer group $137.58, with adjusted EPS central to incentive design .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Avient Corporation | SVP & CFO | 2020–present | Leads finance, investor relations; supports growth strategy and margin expansion . |
| Hunt Consolidated, Inc. | SVP & CFO | Pre-2020 | CFO across diversified holdings; enterprise finance leadership . |
| Celanese Corporation | Corporate VP & Treasurer; CFO, Materials Solutions | ~10 years | Corporate treasury leadership; business-unit CFO in materials . |
| PricewaterhouseCoopers | Assurance & Advisory | Early career | Audit/finance foundation; CPA credential . |
External Roles
| Organization | Role | Start | Committees / Notes |
|---|---|---|---|
| International Paper (NYSE: IP) | Independent Director | May 21, 2024 | Appointed to Audit and Finance; Public Policy & Environment committees . |
Fixed Compensation
| Component | 2024 Detail |
|---|---|
| Base Salary | $597,885 . |
| Target Bonus % | 75% of base salary . |
| Actual Annual Incentive Paid | $846,351 (paid Feb 2025) . |
| RSU Grant (2024) | 9,900 RSUs; grant-date fair value $388,773; RSUs vest on 3rd anniversary; dividend equivalents apply . |
| SAR Grant (2024) | 32,050 stock-settled SARs; strike $39.27; grant-date fair value $396,083; 10-year term . |
| SAR Vesting Conditions | 1/3 time-based on each of first three anniversaries AND stock price hurdles of +10%, +15%, +20% sustained for 20 consecutive trading days; all 2024 hurdles met, so vesting subject to time-based schedule . |
Performance Compensation
| Metric | Weight | Threshold | Target | Maximum | 2024 Actual | Payout % |
|---|---|---|---|---|---|---|
| Adjusted Operating Income (Consolidated) | 70.0% | $312.7mm | $330.0mm | $347.3mm | $350.7mm | 200.0% . |
| Working Capital as % of Sales (Consolidated) | 20.0% | 12.7% | 12.3% | 11.8% | 12.0% | 176.0% . |
| Sustainability Objectives | 10.0% | — | — | — | Mixed: Safety/engagement exceeded; energy intensity not met; waste intensity exceeded | 150.0% . |
| Total Attainment | — | — | — | — | — | 190.2% . |
| Long-Term Incentive Vehicle | Performance Metric | Periods | Vesting | Payout Mechanics |
|---|---|---|---|---|
| Cash-settled Performance Units (2024 cohort) | Adjusted EPS | 2024, 2025, 2026, and 2024–2026 cumulative (equal weights) | Paid in 2027; generally must be employed at payment | 50%/100%/200% at threshold/target/max per period; future goals withheld to avoid competitive harm . |
| SARs (2024 cohort) | Stock price hurdles (+10%, +15%, +20%) and time vesting | Hurdles met in 2024 | 1/3 annually over 3 years | Appreciation capped at 200% of grant-date price . |
| 2022–2024 Performance Units (prior cohort) | Adjusted EPS | 4 periods (annual + cumulative) | Paid Feb 2025 | Total attainment 14%; Beggs payout $39,900 . |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | 44,601 shares owned; right to acquire 1,191 shares via in-the-money SARs within 60 days; total beneficial 45,792 . |
| Ownership % of Outstanding | ~0.05% (45,792 / 91,532,542 common shares outstanding as of Feb 28, 2025) . |
| Stock Ownership Guideline | Target 45,000 shares; Total share ownership 86,103 (includes plan holdings and deemed shares) as of Feb 28, 2025; above guideline . |
| RSUs Unvested (counts and value) | 6,849 (2022 grant; $279,850), 8,150 (2023; $333,009), 10,136 (2024; $414,157) . |
| SARs Exercisable/Unexercisable | Exercisable: 27,200 @ $42.27 expiring 2/08/2031; 8,750 @ $42.93 expiring 2/17/2033. Unexercisable: 32,050 @ $39.27 expiring 2/22/2034; plus unearned equity incentive SARs 22,300 @ $52.64 (2022 grant); 8,750 @ $42.93 (2023 grant) . |
| Hedging/Pledging | Prohibited for directors and officers under Insider Trading Policy . |
| Share Withholding (tax) | Shares withheld on RSU vestings in 2024: 3,374 shares for Beggs . |
Employment Terms
- Executive Severance Plan: If terminated without cause (outside change-in-control), Beggs receives salary continuation equal to 2x base salary, year-of-termination annual incentive (based on actual performance), reimbursement for two years of medical/dental/vision (including tax gross-up on reimbursement), and 12 months outplacement; subject to release and 2-year confidentiality/non-compete/non-solicit/non-disparagement . For Beggs, estimated as of 12/31/2024: Cash severance $2,046,351; health benefits $16,497; outplacement $12,000 .
- Change-of-Control Continuity Agreement: Double-trigger; upon qualifying termination within protection period, Beggs receives 2x base salary and 2x target annual incentive, two years health and welfare benefits at active employee rates, 1-year financial planning allowance, and retirement-plan employer contributions; no excise tax gross-ups; agreements auto-renew annually unless terminated . For Beggs, estimated as of 12/31/2024: Cash severance $2,089,960; RSUs valued $1,027,016; SARs $50,960; performance units at target $657,900; health benefits $16,497; financial planning $10,000; retirement contribution lump sum $112,632 .
- Clawback: NYSE-compliant compensation clawback policy covers incentive-based pay upon accounting restatements; broad recoupment methods; no indemnification .
- Non-Compete/Non-Solicit: Required to receive severance/CoC benefits (two years for Executive Severance; two years under Continuity Agreement for Beggs) .
Performance & Track Record
| Indicator | 2024/2025 Highlights |
|---|---|
| Company financial performance | Sales $3.24B (+3% y/y); adjusted EPS $2.66 (+13% y/y); dividend +5% y/y . |
| Incentive metric attainment | Corporate plan payout 190.2% driven by adjusted operating income over-performance and improved working capital . |
| TSR (PVP measure) | $100 initial investment valued at $125.38; peer group $137.58 for 2024 PVP context . |
| 2025 Outlook commentary (Beggs) | Maintained full-year adjusted EPS guidance $2.77–$2.87; updated adjusted EBITDA to $540–$550mm; targeted $150mm debt repayment by year-end . |
| Say-on-pay | 2024 approval >96% “for” votes . |
Compensation Structure Analysis
- Pay-for-performance alignment: 2024 variable pay dominated by objective metrics—70% adjusted operating income, 20% working capital efficiency, 10% sustainability; high attainment yielded 190.2% payout, consistent with improved operating results .
- Cash vs equity mix: For Beggs, 2024 salary increased modestly (to $597,885) alongside higher RSU and SAR grant values; non-equity incentive rose with performance ($886,251) . Year-over-year changes show increased at-risk compensation tied to performance.
- Governance safeguards: Clawback policy; no excise tax gross-ups (non-grandfathered); hedging/pledging prohibited; robust ownership guidelines exceeded .
Equity Ownership & Alignment
| Ownership Element | Detail |
|---|---|
| Guideline compliance | Target 45,000 shares; Beggs at 86,103 (exceeds requirement) . |
| Beneficial holdings | 45,792 total (owned + rights to acquire within 60 days); <0.1% of shares outstanding . |
| Unvested equity overhang | RSUs across 2022–2024 cohorts and SARs spanning 2022–2024 provide multi-year retention and alignment; 2024 SAR hurdles met, time-based vesting continues through 2027 . |
Investment Implications
- Alignment and incentives: Beggs’ compensation emphasizes operating income, working capital discipline, and adjusted EPS, aligning CFO priorities with deleveraging and margin expansion; her exceeding the ownership guideline strengthens alignment with shareholders .
- Retention risk: Multi-year unvested RSUs and SARs, with 2024 SAR hurdles already met but time-based vesting through 2027, indicate low near-term retention risk; vesting events typically trigger tax withholding (evidenced by 2024), but hedging/pledging prohibitions mitigate misalignment .
- Trading signals: Upcoming RSU and SAR vest anniversaries (2022 grants vesting Feb 2025; 2023 in 2026; 2024 in 2027) may create predictable windows for administrative share sales for tax; corporate plan weighting to adjusted operating income and working capital suggests earnings and cash conversion remain key drivers for incentive outcomes and potential insider disposition timing .
- Change-of-control economics: Double-trigger provisions without tax gross-ups reduce perverse exit incentives while providing competitive protection; estimated benefits are significant but standard for role and peer set .
Note: No related party transactions were reported for 2024; governance policies prohibit hedging and pledging; compensation risk assessment identified no material risk from pay programs .