ASHLAND INC. — Director's Dealing 2025

Nov 18, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASHLAND INC. (ASH)
CIK: 0001674862
Period of Report: 2025-11-13

Reporting Person: Drury Eileen (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-13	Common Stock	M	863	$53.10	Acquired	7020	Direct
2025-11-13	Common Stock	F	400	$53.10	Disposed	6620	Direct
2025-11-14	Common Stock	M	1297	$51.51	Acquired	7917	Direct
2025-11-14	Common Stock	F	603	$51.51	Disposed	7314	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-13	Restricted Stock Unit	$	M	863	Disposed		Common Stock (863)	Direct
2025-11-14	Restricted Stock Unit	$	M	1297	Disposed		Common Stock (1297)	Direct

Footnotes

F1: Payment of a tax liability by withholding securities incident to the vesting of Restricted Stock Units acquired pursuant to Ashland's incentive plan as approved by the shareholders and exempt pursuant to Rule 16b-3.

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

F3: Grant of Restricted Stock Units 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.

F4: Balance includes additional Common Stock Units acquired in lieu of cash dividends.