VALVOLINE INC — Director's Dealing 2017

Jun 19, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALVOLINE INC (VVV)
CIK: 0001674910
Period of Report: 2017-06-15

Reporting Person: Lockwood Frances E. (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-06-15	Dividend Equivalent Right	$	A	1	Acquired		Common Stock (1)	Direct
2017-06-15	Dividend Equivalent Right	$	A	7	Acquired		Common Stock (7)	Direct
2017-06-15	Unit	$	A	33	Acquired		Common Stock (33)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6296	Indirect

Footnotes

F1: As of the close of business on June 15, 2017, the Reporting Person had acquired approximately 6,296 shares of Valvoline common stock under the Valvoline 401(k) Plan (based on the closing price of Valvoline common stock as of the close of business on June 15, 2017).

F2: The dividend equivalent rights accrued on shares of restricted stock and will vest upon the same terms and conditions as such shares of restricted stock. Each dividend equivalent right is the economic equivalent of one share of restricted stock.

F3: The dividend equivalent rights accrued on restricted stock units and will vest upon the same terms and conditions as such restricted stock units. Each dividend equivalent right is the economic equivalent of one restricted stock unit.

F4: Each unit represents a contingent right to receive one share of Valvoline common stock upon distribution.

F5: Acquired pursuant to the dividend reinvestment feature of the Valvoline 2016 Deferred Compensation Plan for Employees (the "Plan"), and exempt pursuant to Rule 16b-3.

F6: Shares of Valvoline common stock or cash become payable in respect of the units upon the event of an unforeseeable emergency (as defined in the Plan) or the Reporting Person's death, disability or separation from service, in accordance with the terms of the Plan.