Julie Marie O'Daniel - 11 Aug 2023 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: 11 Aug 2023
Net transactions value: -$156,573
Form type: 4
Filing time: 14 Aug 2023, 16:09:00 UTC
Previous filing: 01 Dec 2022
Next filing: 01 Sep 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	$311,349	+13,490	+83%	$23.08	29,720	11 Aug 2023	Direct
transaction	VVV	Common Stock	Tax liability	$360,880	-10,403	-35%	$34.69	19,317	11 Aug 2023	Direct
transaction	VVV	Common Stock	Sale	$107,042	-3,087	-16%	$34.68	16,230	11 Aug 2023	Direct
holding	VVV	Common Stock						3,038	11 Aug 2023	By 401(k) Plan	F1

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	Stock Appreciation Right	Options Exercise	$0	-13,490	-100%	$0.000000^*	0	11 Aug 2023	Common Stock	13,490	$23.08	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the approximate number of shares of Valvoline Common Stock held by the Reporting Person in the Valvoline 401(k) Plan based on the closing price of Valvoline Common Stock on the Transaction Date.
F2	Fifty percent (50%) of the stock appreciation rights (SARs) vested on November 13, 2018, 25% of the SARs vested on November 13, 2019 and 25% of the SARs vested on November 13, 2020.