VALHI INC /DE/ — Director's Dealing 2019

Jan 2, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALHI INC /DE/ (VHI)
CIK: 0000059255
Period of Report: 2018-12-31

Reporting Person: Harold C. Simmons Family Trust No. 2 (10% Owner)
Reporting Person: CONNELLY SERENA S (10% Owner)
Reporting Person: Simmons Lisa K (10% Owner)
Reporting Person: Dixie Rice Agricultural L.L.C. (10% Owner)
Reporting Person: VALHI HOLDING CO (10% Owner)
Reporting Person: VALHI INC /DE/ (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-12-31	Common Stock, par value $0.01 per share	J	310346282	—	Disposed	0	Indirect
2018-12-31	Common Stock, par value $0.01 per share	J	310346282	—	Acquired	310346282	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $0.01 per share	3636	Direct
Common Stock, par value $0.01 per share	52500	Indirect

Footnotes

F1: On December 31, 2018, Valhi Holding Company ("VHC") dissolved and distributed its assets in liquidation to its sole stockholder Dixie Rice Agricultural L.L.C. ("Dixie Rice"), including 310,346,282 shares of common stock of Valhi, Inc. ("Valhi") that were owned by VHC.

F2: Directly held by VHC.

F3: See Exhibit 99.1 to this statement for a description of the relationship of additional persons who may be deemed to beneficially own these shares, and for information regarding an additional 16,097,886 shares of Valhi common stock that are treated as treasury stock for voting purposes and are not included in the 310,346,282 number in column 5.

F4: Directly held by Dixie Rice.

F5: Directly held by Serena Simmons Connelly.

F6: Held by the Serena S. Connelly 1998 Trust (the "Connelly Trust"), for which Serena Simmons Connelly is the sole trustee and sole beneficiary.