Heidi J. Matheys - 03 Apr 2023 Form 4 Insider Report for VALVOLINE INC (VVV)

Role
SVP, Chief Commercial Officer
Signature
/s/ Ian C. Lofwall, Attorney-in-Fact for Heidi J. Matheys
Issuer symbol
VVV
Transactions as of
03 Apr 2023
Net transactions value
-$310,165
Form type
4
Filing time
05 Apr 2023, 17:08:29 UTC
Previous filing
30 Jan 2023
Next filing
15 May 2023
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 $201,427 +9,684 +26% $20.80 46,843 03 Apr 2023 Direct
transaction VVV Common Stock Tax liability $247,663 -7,010 -15% $35.33 39,833 03 Apr 2023 Direct F1
transaction VVV Common Stock Options Exercise $229,236 +11,298 +28% $20.29 51,131 03 Apr 2023 Direct
transaction VVV Common Stock Tax liability $287,904 -8,149 -16% $35.33 42,982 03 Apr 2023 Direct F1
transaction VVV Common Stock Sale $205,261 -5,823 -14% $35.25 37,159 04 Apr 2023 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 2016 Stock Appreciation Right Options Exercise $0 -9,684 -100% $0.000000* 0 03 Apr 2023 Common Stock 9,684 $20.80 Direct F2
transaction VVV FY 2017 Stock Appreciation Right Options Exercise $0 -11,298 -100% $0.000000* 0 03 Apr 2023 Common Stock 11,298 $20.29 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 Fifty percent (50%) of the stock appreciation rights vested on November 18, 2016, twenty-five percent (25%) of the stock appreciation rights vested on November 18, 2017 and twenty-five percent (25%) of the stock appreciation rights vested on November 18, 2018.
F3 Fifty percent (50%) of the stock appreciation rights vested on November 16, 2017, twenty-five percent (25%) of the stock appreciation rights vested on November 16, 2018 and twenty-five percent (25%) of the stock appreciation rights vested on November 16, 2019.