Mary E. Meixelsperger - Nov 11, 2024 Form 4 Insider Report for VALVOLINE INC (VVV)

Role
Chief Financial Officer
Signature
/s/ Ian C. Lofwall, Attorney-in-Fact
Stock symbol
VVV
Transactions as of
Nov 11, 2024
Transactions value $
-$224,647
Form type
4
Date filed
11/13/2024, 05:49 PM
Previous filing
Jul 1, 2024
Next filing
Nov 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VVV Common Stock Options Exercise +2.03K +1.43% 144K Nov 11, 2024 Direct F1
transaction VVV Common Stock Tax liability -$26.8K -620 -0.43% $43.24 143K Nov 11, 2024 Direct
transaction VVV Common Stock Award +15.2K +10.6% 158K Nov 12, 2024 Direct F1, F2
transaction VVV Common Stock Tax liability -$198K -4.64K -2.93% $42.61 154K Nov 12, 2024 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 Options Exercise $0 -2.03K -100% $0.00 0 Nov 11, 2024 Common Stock 2.03K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units (RSUs) and performance stock units (PSUs) convert into Valvoline Common Stock on a one-for-one basis.
F2 Represents shares earned from the FY22-FY24 PSU award granted on November 11, 2021, as certified by the Compensation Committee of the Board of Directors on November 12, 2024. Earned PSUs became 100% vested on the last day of the performance period. The PSUs were measured against adjusted EPS/adjusted Net Income performance goals over three separate one-year measurement periods for each of FY22, FY23 and FY24, and the average of those results for the FY22-FY24 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 FY22-FY24 total relative shareholder return relative to the companies in the S&P MidCap 400 Index. Based on Valvoline's adjusted EPS/adjusted Net Income and relative TSR performance, the Compensation Committee awarded a PSU payout equal to 132.6% of Target.
F3 The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date.