Min Chong - 03 Jan 2023 Form 4 Insider Report for ASHLAND INC. (ASH)

Role: Sr VP & Gen Mgr, Spc Additives
Signature: /s/ Babatunde Awodiran, Attorney-in-Fact
Issuer symbol: ASH
Transactions as of: 03 Jan 2023
Net transactions value: +$413,297
Form type: 4
Filing time: 05 Jan 2023, 15:44:46 UTC
Previous filing: 29 Nov 2022
Next filing: 16 Nov 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ASH	Common Stock	Options Exercise	$260,750	+2,405	+139%	$108.42	4,131	03 Jan 2023	Direct
transaction	ASH	Common Stock	Tax liability	$82,724	-763	-18%	$108.42	3,368	03 Jan 2023	Direct	F1
transaction	ASH	Common Stock	Options Exercise	$294,360	+2,715	+81%	$108.42	6,083	03 Jan 2023	Direct
transaction	ASH	Common Stock	Tax liability	$84,242	-777	-13%	$108.42	5,306	03 Jan 2023	Direct	F2
transaction	ASH	Common Stock	Options Exercise	$35,345	+326	+6.1%	$108.42	5,632	03 Jan 2023	Direct
transaction	ASH	Common Stock	Tax liability	$10,191	-94	-1.7%	$108.42	5,538	03 Jan 2023	Direct	F2

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	-2,405	-100%	$0.000000^*	0	03 Jan 2023	Common Stock	2,405		Direct	F3, F4
transaction	ASH	Restricted Stock Units	Options Exercise	$0	-2,715	-100%	$0.000000^*	0	03 Jan 2023	Common Stock	2,715		Direct	F3, F5
transaction	ASH	Restricted Stock Units	Options Exercise	$0	-326	-100%	$0.000000^*	0	03 Jan 2023	Common Stock	326		Direct	F3, F5

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

Explanation of Responses:

Id	Content
F1	Payment of tax liability by withholding securities incident to the vesting of Performance Stock Units, acquired pursuant to Ashland's incentive plan as approved by the shareholders and exempt pursuant to Rule 16b-3.
F2	Payment of 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.
F3	Each Restricted Stock Unit represents a right to receive one (1) share of Ashland Common Stock.
F4	Reporting Person's 2020-2022 Performance Stock Units converted to time-based stock settled RSUs based on performance of the 2020-2022 LTIP Plan and vests three years from the original grant.
F5	Grant of Restricted Stock Units on January 2, 2020, pursuant to Ashland's incentive plan as approved by the shareholders and exempt pursuant to Rule 16b-3. The shares in this grant will 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.