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Filing Details

Accession Number:: 0001674910-21-000122
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-11-15 17:53:58
Reporting Period:: 2021-11-11

Accepted Time:: 2021-11-15 17:53:58
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1674910	Valvoline Inc	VVV	Miscellaneous Products Of Petroleum & Coal (2990)	300939371

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1685295	Marie Julie O'daniel	100 Valvoline Way Lexington KY 40509	Clo And Corp. Secy	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2021-11-11	10,419	$0.00	24,456	No	4	A	Direct
Common Stock	Disposition	2021-11-11	3,345	$35.25	21,111	No	4	F	Direct
Common Stock	Acquisiton	2021-11-12	1,274	$0.00	22,385	No	4	M	Direct
Common Stock	Disposition	2021-11-12	409	$35.16	21,976	No	4	F	Direct
Common Stock	Acquisiton	2021-11-12	1,347	$0.00	23,323	No	4	M	Direct
Common Stock	Disposition	2021-11-12	433	$35.16	22,890	No	4	F	Direct
Common Stock	Disposition	2021-11-12	3,537	$35.28	19,353	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	A	Direct
No	4	F	Direct
No	4	M	Direct
No	4	F	Direct
No	4	M	Direct
No	4	F	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	FY 2022 Restricted Stock Units	Acquisiton	2021-11-11	2,890	$0.00	2,890	$0.00
Common Stock	FY 2022 Stock Appreciation Rights	Acquisiton	2021-11-11	10,110	$0.00	10,110	$35.25
Common Stock	FY 2020 Restricted Stock Units	Disposition	2021-11-12	1,274	$0.00	1,274	$0.00
Common Stock	FY 2021 Restricted Stock Units	Disposition	2021-11-12	1,347	$0.00	1,347	$0.00

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
2,890		No	4	A	Direct
10,110	2031-11-11	No	4	A	Direct
1,275		No	4	M	Direct
2,696		No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	2,977	Indirect	By 401(k) Plan

Footnotes

Represents shares earned from the FY19-FY21 performance stock unit ("PSU") award granted on November 19, 2018, as certified by the Compensation Committee of the Board of Directors on November 11, 2021. Earned PSUs became 100% vested on the last day of the performance period. The PSUs were measured against EPS performance goals over three separate one-year measurement periods for each of FY19, FY20 and FY21, and a fourth cumulative FY19-FY21 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 FY19-FY21 total shareholder return relative to the companies in the S&P MidCap 400 Index. Based on Valvoline's EPS performance and relative TSR performance, the Compensation Committee awarded a PSU payout equal to 144.5% of Target.
Restricted stock units and performance stock units convert into Valvoline common stock on a one-for-one basis.
Transaction was effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on August 27, 2021.
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 as of the close of business on the earliest Transaction Date.
The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date.
Fifty percent (50%) of the stock appreciation rights vest on the first anniversary of the grant date and 25% vest on each of the second and third anniversaries of the grant date.