Guillermo Novo - Dec 15, 2022 Form 4 Insider Report for ASHLAND INC. (ASH)

Role: Chair of the Board and CEO, Director
Signature: /s/ Babatunde Awodiran, Attorney-in-Fact
Stock symbol: ASH
Transactions as of: Dec 15, 2022
Transactions value $: $525,171
Form type: 4
Date filed: 12/19/2022, 03:32 PM
Previous filing: Dec 13, 2022
Next filing: Jan 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ASH	Common Stock	Options Exercise	$969K	+9.12K	+11.1%	$106.31	91.2K	Dec 15, 2022	Direct
transaction	ASH	Common Stock	Tax liability	-$445K	-4.19K	-4.59%	$106.31	87.1K	Dec 15, 2022	Direct	F1
transaction	ASH	Common Stock	Options Exercise	$2.87K	+27	+0.03%	$106.31	87.1K	Dec 16, 2022	Direct
transaction	ASH	Common Stock	Tax liability	-$1.38K	-13	-0.01%	$106.31	87.1K	Dec 16, 2022	Direct	F1

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	-9.12K	-99.7%	$0.00	27	Dec 15, 2022	Common Stock	9.12K		Direct	F2, F3
transaction	ASH	Restricted Stock Units	Options Exercise	$0	-27	-100%	$0.00^*	0	Dec 16, 2022	Common Stock	27		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Payment of a tax liability by withholding securities incident to the vesting of Restricted Stock Units, acquired pursuant to Ashland's incentive plan as approved by the shareholders and exempt pursuant to Rule 16b-3.
F2	Each Restricted Stock Unit (RSU) represents a right to receive one (1) share of Ashland Common Stock.
F3	Grant of Restricted Stock Units 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 annual installments beginning one year from the date of grant, provided that the Reporting Person remains in continuous employment with the Issuer.