ASHLAND INC. — Director's Dealing 2022

Nov 16, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASHLAND INC. (ASH)
CIK: 0001674862
Period of Report: 2022-11-13

Reporting Person: WILLIS J KEVIN (Sr.VP &Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-11-13	Common Stock	M	11390	$108.93	Acquired	15455.701	Direct
2022-11-13	Common Stock	F	5365	$108.93	Disposed	10090.701	Direct
2022-11-13	Common Stock	M	1548	$108.93	Acquired	11638.701	Direct
2022-11-13	Common Stock	F	730	$108.93	Disposed	10908.701	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-11-13	Restricted Stock Units	$	M	11390	Disposed		Common Stock (11390)	Direct
2022-11-13	Restricted Stock Units	$	M	1548	Disposed		Common Stock (1548)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	33649	Indirect
Common Stock	0	Indirect

Footnotes

F1: Includes 3,637 shares of unvested Restricted Stock.

F2: Each Restricted Stock Unit (RSU) represents a right to receive one (1) share of Ashland Common Stock.

F3: Grant of Restricted Stock Units on November 15, 2020, pursuant to Ashland's incentive plan as approved by the shareholders and exempt pursuant to Rule 16b-3. The shares in this grant vest in three equal installments beginning one year from the date of grant, provided that the Reporting Person remains in continuous employment with the issuer.