SEC Form 4 · accession 0001127602-17-020734
ASHLAND INC. · ASH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brendan Cummins
Director
Period of report
Jun 2, 2017
Accepted (ET)
Jun 6, 2017 · 9:38 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001674862
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3,F4,F1 | — | Jun 2, 2017 | A | 6,887 | A | — | — | Common Stock | 6,887 | 14,682 | D |
Explanation of responses
- F1Each Restricted Stock Unit represents a right to receive one (1) share of Ashland Common Stock.
- F2Represents the sum of 6,887 restricted stock units granted pursuant to the adjustment described in this footnote. Ashland Global Holdings Inc. ("Ashland") distributed to its stockholders on May 12, 2017 (the "Distribution Date") 170,000,000 shares of Valvoline Inc. ("Valvoline") common stock as a pro rata dividend (the "Distribution"). Pursuant to the terms of the applicable equity compensation plan, the Reporting Person was entitled to receive the number of restricted stock units equal to the quotient of (x) the closing price of Ashland common stock on the Distribution Date and (y) the simple arithmetic average of the volume-weighted average price of Ashland common stock for each of the ten consecutive trading days immediately following the Distribution Date (such quotient, the "Equity Award Adjustment Ratio") for each such restricted stock unit. Balance also includes 24 additional restricted stock units acquired in lieu of cash dividends paid on March 15, 2017, pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors, exempt under Rule 16b-3 and converted as described in this footnote 2.
- F3The restricted stock units described in footnote (2) vest upon the same terms and conditions as were applicable to the Reporting Person's awards of restricted stock units immediately prior to the Distribution.
- F4The balance includes 24 additional restricted stock units acquired in lieu of cash dividends paid on March 15, 2017, pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors, exempt under Rule 16b-3 and converted as described in footnote 2.