SEC Form 4 · accession 0000947871-17-000800
VALVOLINE INC · VVV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Samuel J Mitchell
Officer — Chief Executive Officer · Director
Period of report
Oct 6, 2017
Accepted (ET)
Oct 10, 2017 · 6:15 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001674910
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 UnitF2,F1 | — | Oct 6, 2017 | A | 5,643 | A | — | — | Common Stock | 5,643 | 5,643 | D |
| UnitF3,F4 | — | Oct 6, 2017 | A | 151 | A | — | — | Common Stock | 151 | 190,573 | D |
Explanation of responses
- F1Each restricted stock unit represents a right to receive one share of Valvoline common stock.
- F2The Reporting Person held performance units for which performance was certified on the transaction date. Following the certification, the units remain outstanding as restricted stock units and are scheduled to vest upon the third anniversary of the grant date of the units (November 12, 2018), subject to the continued employment of the Reporting Person with Valvoline through such vesting date.
- F3Each unit represents a contingent right to receive one share of Valvoline common stock upon distribution.
- F4Shares of Valvoline common stock or cash become payable in respect of the units upon the event of an unforeseeable emergency (as defined in the Valvoline 2016 Deferred Compensation Plan for Employees (the "Plan")) or the Reporting Person's death, disability or separation from service, in accordance with the terms of the Plan.