Mary E. Meixelsperger - 11 Nov 2024 Form 4 Insider Report for VALVOLINE INC (VVV)

Role
Chief Financial Officer
Signature
/s/ Ian C. Lofwall, Attorney-in-Fact
Issuer symbol
VVV
Transactions as of
11 Nov 2024
Net transactions value
-$224,647
Form type
4
Filing time
13 Nov 2024, 17:49:04 UTC
Previous filing
01 Jul 2024
Next filing
18 Nov 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VVV Common Stock Options Exercise +2,026 +1.4% 143,733 11 Nov 2024 Direct F1
transaction VVV Common Stock Tax liability $26,809 -620 -0.43% $43.24 143,113 11 Nov 2024 Direct
transaction VVV Common Stock Award +15,170 +11% 158,283 12 Nov 2024 Direct F1, F2
transaction VVV Common Stock Tax liability $197,838 -4,643 -2.9% $42.61 153,640 12 Nov 2024 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction VVV FY 2022 Restricted Stock Units Options Exercise $0 -2,026 -100% $0.000000 0 11 Nov 2024 Common Stock 2,026 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

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