| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | VVV | Common Stock | Options Exercise | $208K | +9K | +24.22% | $23.08 | 46.2K | May 11, 2023 | Direct | |
| transaction | VVV | Common Stock | Tax liability | -$248K | -6.45K | -13.98% | $38.50 | 39.7K | May 11, 2023 | Direct | F1 |
| transaction | VVV | Common Stock | Sale | -$98.4K | -2.55K | -6.41% | $38.64 | 37.2K | May 12, 2023 | Direct |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | VVV | Stock Appreciation Right | Options Exercise | $0 | -9K | -100% | $0.00* | 0 | May 11, 2023 | Common Stock | 9K | $23.08 | Direct | F2 |
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).
| 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 13, 2018 and 25% vested on each of November 13, 2019 and November 13, 2020. |
Transactions were effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on February 17, 2023.