VALVOLINE INC — Director's Dealing 2023

Nov 20, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALVOLINE INC (VVV)
CIK: 0001674910
Period of Report: 2023-11-16

Reporting Person: Flees Lori Ann (Director, President & CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-11-16	FY 2024 Restricted Stock Units	$	A	20100	Acquired		Common Stock (20100)	Direct
2023-11-16	FY 2024 Stock Appreciation Rights	$34.94	A	42010	Acquired	2033-11-16	Common Stock (42010)	Direct

Footnotes

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

F2: The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date.

F3: 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.