J. Kevin Willis - Nov 13, 2022 Form 4 Insider Report for ASHLAND INC. (ASH)

Role: Sr.VP &Chief Financial Officer
Signature: /s/ Babatunde Awodiran, Attorney-in-Fact
Stock symbol: ASH
Transactions as of: Nov 13, 2022
Transactions value $: $745,408
Form type: 4
Date filed: 11/16/2022, 12:22 PM
Previous filing: Jun 3, 2022
Next filing: Dec 12, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ASH	Common Stock	Options Exercise	$1.24M	+11.4K	+280.15%	$108.93	15.5K	Nov 13, 2022	Direct	F1
transaction	ASH	Common Stock	Tax liability	-$584K	-5.37K	-34.71%	$108.93	10.1K	Nov 13, 2022	Direct	F1
transaction	ASH	Common Stock	Options Exercise	$169K	+1.55K	+15.34%	$108.93	11.6K	Nov 13, 2022	Direct	F1
transaction	ASH	Common Stock	Tax liability	-$79.5K	-730	-6.27%	$108.93	10.9K	Nov 13, 2022	Direct	F1
holding	ASH	Common Stock						33.6K	Nov 13, 2022	401(k)
holding	ASH	Common Stock						0	Nov 13, 2022	Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ASH	Restricted Stock Units	Options Exercise	$0	-11.4K	-100%	$0.00^*	0	Nov 13, 2022	Common Stock	11.4K		Direct	F2, F3
transaction	ASH	Restricted Stock Units	Options Exercise	$0	-1.55K	-100%	$0.00^*	0	Nov 13, 2022	Common Stock	1.55K		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 3,637 shares of unvested Restricted Stock.
F2	Each Restricted Stock Unit (RSU) represents a right to receive one (1) share of Ashland Common Stock.
F3	Grant of Restricted Stock Units on November 15, 2020, pursuant to Ashland's incentive plan as approved by the shareholders and exempt pursuant to Rule 16b-3. The shares in this grant vest in three equal installments beginning one year from the date of grant, provided that the Reporting Person remains in continuous employment with the issuer.