Julie Marie O'Daniel - 20 Aug 2021 Form 4 Insider Report for VALVOLINE INC (VVV)

Role
CLO and Corp. Secy
Signature
/s/ Ian C. Lofwall, Attorney-in-Fact
Issuer symbol
VVV
Transactions as of
20 Aug 2021
Net transactions value
-$115,130
Form type
4
Filing time
24 Aug 2021, 17:02:19 UTC
Next filing
15 Nov 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VVV Common Stock Options Exercise $71,748 +4,304 +47% $16.67 13,369 20 Aug 2021 Direct
transaction VVV Common Stock Tax liability $89,907 -3,016 -23% $29.81 10,353 20 Aug 2021 Direct F1
transaction VVV Common Stock Options Exercise $84,695 +4,035 +39% $20.99 14,388 20 Aug 2021 Direct
transaction VVV Common Stock Tax liability $96,103 -3,226 -22% $29.79 11,162 20 Aug 2021 Direct F1
transaction VVV Common Stock Options Exercise $106,309 +5,111 +46% $20.80 16,273 20 Aug 2021 Direct
transaction VVV Common Stock Tax liability $121,056 -4,065 -25% $29.78 12,208 20 Aug 2021 Direct F1
transaction VVV Common Stock Options Exercise $425,745 +20,983 +172% $20.29 33,191 20 Aug 2021 Direct
transaction VVV Common Stock Tax liability $489,748 -16,440 -50% $29.79 16,751 20 Aug 2021 Direct F1
transaction VVV Common Stock Options Exercise $213,885 +10,500 +63% $20.37 27,251 20 Aug 2021 Direct
transaction VVV Common Stock Tax liability $245,660 -8,245 -30% $29.80 19,006 20 Aug 2021 Direct F1
transaction VVV Common Stock Sale $148,116 -4,969 -26% $29.81 14,037 20 Aug 2021 Direct F2
transaction VVV Common Stock Discretionary transaction in accordance with Rule 16b-3(f) resulting in acquisition or disposition of issuer securities $60,753 +2,038 +220% $29.81 2,965 20 Aug 2021 By 401(k) Plan F3

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 VVV FY 2014 Stock Appreciation Right Options Exercise $0 -4,304 -100% $0.000000* 0 20 Aug 2021 Common Stock 4,304 $16.67 Direct F4
transaction VVV FY 2015 Stock Appreciation Right Options Exercise $0 -4,035 -100% $0.000000* 0 20 Aug 2021 Common Stock 4,035 $20.99 Direct F4
transaction VVV FY 2016 Stock Appreciation Right Options Exercise $0 -5,111 -100% $0.000000* 0 20 Aug 2021 Common Stock 5,111 $20.80 Direct F4
transaction VVV FY 2017 Stock Appreciation Right Options Exercise $0 -20,983 -100% $0.000000* 0 20 Aug 2021 Common Stock 20,983 $20.29 Direct F4
transaction VVV FY 2019 Stock Appreciation Rights Options Exercise $0 -10,500 -75% $0.000000 3,500 20 Aug 2021 Common Stock 10,500 $20.37 Direct F4
transaction VVV Units Discretionary transaction in accordance with Rule 16b-3(f) resulting in acquisition or disposition of issuer securities $112,324 +3,768 $29.81 3,768 20 Aug 2021 Common Stock 3,768 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares withheld by Valvoline to cover the exercise price and applicable withholding taxes on the Reporting Person's exercise of stock appreciation rights.
F2 The price reported in Column 4 is a weighted average price. These shares of Valvoline common stock were sold in multiple transactions at prices ranging from $29.80 to $29.821, inclusive. Upon request, the Reporting Person will provide to Valvoline, any security holder of Valvoline, or the staff of the Securities and Exchange Commission full information regarding the shares of Valvoline common stock sold at each separate price within the range set forth in this footnote.
F3 Represents the approximate number of shares of Valvoline Comon Stock held by the Reporting Person in the Valvoline 401(k) Plan based on the closing price of Valvoline Common Stock as of the close of business on the the Reporting Date.
F4 50% of the Stock Appreciation Rights vest on the first anniversary of the grant date and 25% vest on each of the second and third anniversaries of the grant date.
F5 Each unit represents a contingent right to receive one share of Valvoline common stock upon distribution.
F6 Shares of Valvoline common stock become payable in respect of the units upon the Reporting Person's death or separation from service in accordance with the terms of the Nonqualified Defined Contribution Plan.