Sanat Chattopadhyay - 31 Dec 2025 Form 4 Insider Report for ASHLAND INC. (ASH)

Role: Director
Signature: /s/ Serena S. Kenost, Attorney-in-fact for Sanat Chattopadhyay
Issuer symbol: ASH
Transactions as of: 31 Dec 2025
Net transactions value: +$14,374
Form type: 4
Filing time: 05 Jan 2026, 16:30:13 UTC
Previous filing: 02 Oct 2025
Next filing: 21 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Chattopadhyay Sanat	Director	8145 BLAZER DRIVE, WILMNGTON	/s/ Serena S. Kenost, Attorney-in-fact for Sanat Chattopadhyay	05 Jan 2026	0001670690

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	Common Stock Units	Award	$14,374	+245	+17%	$58.67	1,679	31 Dec 2025	Common Stock	245		Direct	F1, F2, F3, F4

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

Explanation of Responses:

Id	Content
F1	1 for 1
F2	Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors (the "Plan") and exempt under Rule 16b-3. (One (1) Common Stock Unit in the Plan is the equivalent of one (1) share of Ashland Common Stock.)
F3	Subject to any deferral election on timing of distribution by the reporting person under the Plan, the Common Stock Units are payable in Common Stock upon the reporting person's separation from service as a director.
F4	Balance includes additional Common Stock Units acquired in lieu of cash dividends.