Heidi J. Matheys - Nov 11, 2021 Form 4 Insider Report for VALVOLINE INC (VVV)

Role
SVP, Chief Marketing Officer
Signature
/s/ Ian C. Lofwall, Attorney-in-Fact
Stock symbol
VVV
Transactions as of
Nov 11, 2021
Transactions value $
-$99,211
Form type
4
Date filed
11/15/2021, 04:41 PM
Next filing
Nov 22, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VVV Common Stock Award +6.95K +27.75% 32K Nov 11, 2021 Direct F1, F2
transaction VVV Common Stock Tax liability -$78.7K -2.23K -6.97% $35.25 29.8K Nov 11, 2021 Direct
transaction VVV Common Stock Options Exercise +882 +2.96% 30.7K Nov 12, 2021 Direct F2
transaction VVV Common Stock Tax liability -$9.99K -284 -0.93% $35.16 30.4K Nov 12, 2021 Direct
transaction VVV Common Stock Options Exercise +932 +3.07% 31.3K Nov 12, 2021 Direct F2
transaction VVV Common Stock Tax liability -$10.5K -300 -0.96% $35.16 31K Nov 12, 2021 Direct

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 2022 Restricted Stock Units Award $0 +1.99K $0.00 1.99K Nov 11, 2021 Common Stock 1.99K Direct F2, F3
transaction VVV FY 2022 Stock Appreciation Rights Award $0 +6.95K $0.00 6.95K Nov 11, 2021 Common Stock 6.95K $35.25 Direct F4
transaction VVV FY 2020 Restricted Stock Units Options Exercise $0 -882 -50% $0.00 882 Nov 12, 2021 Common Stock 882 Direct F2, F3
transaction VVV FY 2021 Restricted Stock Units Options Exercise $0 -932 -33.29% $0.00 1.87K Nov 12, 2021 Common Stock 932 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares earned from the FY19-FY21 performance stock unit ("PSU") award granted on November 19, 2018, as certified by the Compensation Committee of the Board of Directors on November 11, 2021. Earned PSUs became 100% vested on the last day of the performance period. The PSUs were measured against EPS performance goals over three separate one-year measurement periods for each of FY19, FY20 and FY21, and a fourth cumulative FY19-FY21 measurement period with a potential payout of 0% to 200% of Target. Each measurement period was weighted equally at 25%. The entire PSU payout was subject to a payment modifier (-25%, 0% or +25%) based on Valvoline's FY19-FY21 total shareholder return relative to the companies in the S&P MidCap 400 Index. Based on Valvoline's EPS performance and relative TSR performance, the Compensation Committee awarded a PSU payout equal to 144.5% of Target.
F2 Restricted stock units and performance stock units convert into Valvoline common stock on a one-for-one basis.
F3 The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date.
F4 Fifty percent (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.