VALVOLINE INC — Director's Dealing 2020

Nov 30, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALVOLINE INC (VVV)
CIK: 0001674910
Period of Report: 2020-11-25

Reporting Person: Matheys Heidi J. (SVP, Chief Marketing Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-25	Common Stock	M	2152	$13.08	Acquired	27204	Direct
2020-11-25	Common Stock	F	1508	$23.40	Disposed	25696	Direct
2020-11-25	Common Stock	M	8070	$16.67	Acquired	33766	Direct
2020-11-25	Common Stock	F	6495	$23.40	Disposed	27271	Direct
2020-11-27	Common Stock	S	2219	$22.83	Disposed	25052	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-25	FY 2013 Stock Appreciation Right	$13.08	M	2152	Disposed	2022-12-14	Common Stock (2152.0)	Direct
2020-11-25	FY 2014 Stock Appreciation Right	$16.67	M	8070	Disposed	2023-12-13	Common Stock (8070.0)	Direct

Footnotes

F1: Transactions were effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on February 28, 2020.

F2: Shares withheld by Valvoline to cover the exercise price and applicable withholding taxes on the Reporting Person's exercise of stock appreciation rights.

F3: 50% of the Stock Appreciation Rights vested on the first anniversary of the grant date and 25% vested on each of the second and third anniversaries of the grant date.