VALVOLINE INC — Director's Dealing 2021

Jul 7, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALVOLINE INC (VVV)
CIK: 0001674910
Period of Report: 2021-07-06

Reporting Person: MITCHELL SAMUEL J (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-07-06	Common Stock	M	52189	$10.33	Acquired	293506	Direct
2021-07-06	Common Stock	F	28859	$32.52	Disposed	264647	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-07-06	FY 2011 Stock Appreciation Right	$10.33	M	52189	Disposed	2022-01-02	Common Stock (52189.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5549	Indirect

Footnotes

F1: Transactions were effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on May 21, 2021.

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: 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 the the Reporting Date.

F4: 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.