ASHLAND INC. — Director's Dealing 2023

Jan 26, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASHLAND INC. (ASH)
CIK: 0001674862
Period of Report: 2023-01-24

Reporting Person: MAIN SUE (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-01-24	Restricted Stock Units	$	A	1365	Acquired		Common Stock (1365)	Direct

Footnotes

F1: Each Restricted Stock Unit represents a right to receive one (1) share of Ashland Common Stock.

F2: Grant of stock settled Restricted Stock Units granted under Ashland Omnibus Incentive Plan and deferred at the election of the reporting person under Ashland Inc. Independent Director Deferred Compensation Program dated November 17, 2022 until retirement from service as a director. The Restricted Stock Units will vest one year after date of grant. One (1) Restricted Stock Units in the Ashland Inc. Independent Director Deferred Compensation Program is the equivalent of one (1) share of Ashland Common Stock.

F3: Balance includes 27 additional Restricted Stock Units acquired in lieu of cash dividends paid on March 15, 2022, 25 additional Restricted Stock Units acquired in lieu of cash dividends paid on June 15, 2022, 26 additional Restricted Stock Units acquired in lieu of cash dividends paid on September 15, 2022 and 23 additional Restricted Stock Units acquired in lieu of cash dividends paid on December 15, 2022.