SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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^*

Baert Bernard

(Last)

(First)

(Middle)

POLYONE CENTER

33587 WALKER ROAD

(Street)

AVON LAKE

44012

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/25/2006

3. Issuer Name and Ticker or Trading Symbol
POLYONE CORP [ POL ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	21,000	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Incentive Stock Option (right to buy)	12/04/1999	12/04/2006	Common Stock	1,269	$21.375	D
Incentive Stock Option (right to buy)	05/07/2000	11/05/2007	Common Stock	1,515	$25.1875	D
Non-Qualified Stock Option (right to buy)	05/07/2000	12/01/2009	Common Stock	6,969	$10.625	D
Non-Qualified Stock Option (right to buy)	05/07/2000	11/04/2008	Common Stock	7,073	$15	D
Non-Qualified Stock Option (right to buy)	12/04/1999	12/04/2006	Common Stock	1,268	$21.375	D
Non-Qualified Stock Option (right to buy)	05/07/2000	11/05/2007	Common Stock	1,515	$25.1875	D
Stock Appreciation Right	⁽¹⁾	12/11/2006	Common Stock	21,500	$6.14	D
Stock Appreciation Right	⁽²⁾	01/04/2013	Common Stock	37,500	$6.51	D
Stock Appreciation Right	02/29/2004	02/28/2011	Common Stock	41,000	$8.7	D
Stock Appreciation Right	⁽³⁾	01/05/2012	Common Stock	18,600	$8.94	D
Stock Appreciation Right	09/05/2002	09/05/2010	Common Stock	200	$9	D
Stock Appreciation Right	03/26/2005	03/26/2012	Common Stock	47,500	$12.22	D

Explanation of Responses:

1. SARs are exercisable upon vesting. As of November 16, 2004, 2/3rds of the SARs have vested with the remaining 1/3rd to vest when the market price of PolyOne common stock reaches $10 per share for three consecutive trading days.

2. SARs are exercisable upon vesting. Vesting occurs when the market price of the PolyOne common stock reaches pre-determined levels for three consecutive days as follows: 1/3 vests at a market price of $7.50 per share; an additional 1/3 vests at a market price of $8.50 per share; and the remaining 1/3 vests at a market price of $10.00 per share; provided, however, that no vesting will occur sooner than one year from the grant date of January 4, 2006.

3. SARs are exercisable upon vesting. Vesting occurs when the market price of the PolyOne common stock reaches pre-determined levels for three consecutive days as follows: 1/3 vest at a market price of $9.84 per share; an additional 1/3 vests at a market price of $10.73 per share; and the remaining 1/3 vests at a market price of $11.63 per share.

	By: Wendy C. Shiba, Power of Attorney For: Bernard Baert	06/05/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.