AI assistant
VALVOLINE INC — Director's Dealing 2024
Nov 13, 2024
31007_dirs_2024-11-13_d530cfa5-0949-4e65-a2a2-92277593ccb9.zip
Director's Dealing
Open in viewerOpens in your device viewer
SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: VALVOLINE INC (VVV)
CIK: 0001674910
Period of Report: 2024-11-11
Reporting Person: Dobbins Robert Travis (Chief Technology Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-11-11 | Common Stock | M | 738 | — | Acquired | 14215 | Direct |
| 2024-11-11 | Common Stock | F | 226 | $43.24 | Disposed | 13989 | Direct |
| 2024-11-12 | Common Stock | A | 2759 | — | Acquired | 16748 | Direct |
| 2024-11-12 | Common Stock | F | 845 | $42.61 | Disposed | 15903 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-11-11 | FY 2022 Restricted Stock Units | $ | M | 738 | Disposed | Common Stock (738) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 1945 | Indirect |
Footnotes
F1: Restricted stock units (RSUs) and performance stock units (PSUs) convert into Valvoline Common Stock on a one-for-one basis.
F2: Represents shares earned from the FY22-FY24 PSU award granted on November 11, 2021, as certified by the Compensation Committee of the Board of Directors on November 12, 2024. Earned
PSUs became 100% vested on the last day of the performance period. The PSUs were measured against adjusted EPS/adjusted Net Income performance goals over three separate one-year measurement periods for each of FY22, FY23 and FY24, and the average of those results for the FY22-FY24 measurement period with a potential payout of 0% to 200% of Target. Each measurement period was
weighted equally at 25%. The entire PSU payout was subject to a payment modifier (-25%, 0%, or +25%) based on Valvoline's FY22-FY24 total relative shareholder return relative to the companies in
the S&P MidCap 400 Index. Based on Valvoline's adjusted EPS/adjusted Net Income and relative TSR performance, the Compensation Committee awarded a PSU payout equal to 132.6% of Target.
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 on the earliest Transaction Date.
F4: The restricted stock units granted on November 11, 2021 vest in three equal annual installments beginning on the first anniversary of the grant date.