Jamal K. Muashsher - Nov 11, 2021 Form 4 Insider Report for VALVOLINE INC (VVV)

Role
SVP and Pres., Global Products
Signature
/s/ Ian C. Lofwall, Attorney-in-Fact
Stock symbol
VVV
Transactions as of
Nov 11, 2021
Transactions value $
-$49,715
Form type
4
Date filed
11/15/2021, 05:04 PM
Next filing
Nov 16, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VVV Common Stock Award +2.44K +56.08% 6.8K Nov 11, 2021 Direct F1, F2
transaction VVV Common Stock Tax liability -$27.2K -772 -11.35% $35.25 6.03K Nov 11, 2021 Direct
transaction VVV Common Stock Options Exercise +982 +16.29% 7.01K Nov 12, 2021 Direct F2
transaction VVV Common Stock Tax liability -$10.9K -311 -4.44% $35.16 6.7K Nov 12, 2021 Direct
transaction VVV Common Stock Options Exercise +1.04K +15.5% 7.74K Nov 12, 2021 Direct F2
transaction VVV Common Stock Tax liability -$11.6K -329 -4.25% $35.16 7.41K 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 +2.35K $0.00 2.35K Nov 11, 2021 Common Stock 2.35K Direct F2, F3
transaction VVV FY 2022 Stock Appreciation Rights Award $0 +8.21K $0.00 8.21K Nov 11, 2021 Common Stock 8.21K $35.25 Direct F4
transaction VVV FY 2020 Restricted Stock Units Options Exercise $0 -982 -49.97% $0.00 983 Nov 12, 2021 Common Stock 982 Direct F2, F3
transaction VVV FY 2021 Restricted Stock Units Options Exercise $0 -1.04K -33.31% $0.00 2.08K Nov 12, 2021 Common Stock 1.04K 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.