Jonathan L. Caldwell - 20 Nov 2023 Form 4 Insider Report for VALVOLINE INC (VVV)

Role: Chief People Officer
Signature: /s/ Ian C. Lofwall, Attorney-in-Fact
Issuer symbol: VVV
Transactions as of: 20 Nov 2023
Net transactions value: -$68,168
Form type: 4
Filing time: 21 Nov 2023, 16:03:49 UTC
Previous filing: 20 Nov 2023
Next filing: 30 Nov 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		+6,171	+50%		18,471	20 Nov 2023	Direct	F1
transaction	VVV	Common Stock	Tax liability	$68,168	-1,951	-11%	$34.94	16,520	20 Nov 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	Performance Stock Units	Options Exercise	$0	-6,171	-100%	$0.000000^*	0	20 Nov 2023	Common Stock	6,171		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Performance stock units convert into Valvoline common stock on a one-for-one basis.
F2	Represents PSUs earned from the FY21-FY23 performance period as certified by the Compensation Committee of the Board of Directors on Nov. 16, 2023. The earned PSUs became 100% vested on September 30, 2023 and are distributed as soon as practicable after certification of the award by the Compensation Committee.