VALVOLINE INC — Director's Dealing 2019

Nov 19, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALVOLINE INC (VVV)
CIK: 0001674910
Period of Report: 2019-11-14

Reporting Person: Puckett Anthony R. (SVP, President, Quick Lubes)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-11-15	Common Stock	M	660	—	Acquired	3300	Direct
2019-11-15	Common Stock	F	209	$23.05	Disposed	3091	Direct
2019-11-15	Common Stock	S	557	$23.20	Disposed	2534	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-11-14	FY 2020 Restricted Stock Units	$	A	2830	Acquired		Common Stock (2830.0)	Direct
2019-11-14	FY 2020 Stock Appreciation Rights	$23.01	A	12160	Acquired	2029-11-14	Common Stock (12160.0)	Direct
2019-11-15	Units	$	M	660	Disposed		Common Stock (0.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3478	Indirect

Footnotes

F1: Restricted stock units convert into Valvoline common stock on a one-for-one basis.

F2: Shares were sold pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on August 30, 2019.

F3: Represents the approximate number of shares of Valvoline common stock held by the Reporting Person in the Valvoline 401(k) Plan based on the closing price of Valvoline common stock as of the close of business on November 15, 2019.

F4: The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date.

F5: Fifty percent (50%) of the stock appreciation rights vest on the first anniversary of the grant date and 25% vest on each of the second and third anniversaries of the grant date.