SEC Form 4 · accession 0000950157-17-000391
VALVOLINE INC · VVV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles M Sonsteby
Director
Period of report
Mar 15, 2017
Accepted (ET)
Mar 16, 2017 · 8:24 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 UnitsF2,F1,F3,F4 | — | Mar 15, 2017 | A | 17 | A | — | — | Common Stock | 17 | 6,542 | D |
Explanation of responses
- F1Each Restricted Stock Unit represents a contingent right to receive one share of VVV common stock. Subject to the terms and requirements of the Valvoline Inc. 2016 Deferred Compensation Plan for Non-Employee Directors (the "Plan"), the reporting person may elect to transfer certain Restricted Stock Units granted under the Plan to another hypothetical investment alternative.
- F2Acquired pursuant to a dividend reinvestment feature of the Plan, and exempt pursuant to Rule 16b-3.
- F3The Restricted Stock Units were credited as dividends with respect to previously granted Restricted Stock Units under the Plan and vest on the same date as the previously granted Restricted Stock Units with respect to which they were credited as dividends.
- F4Subject to any deferral election on timing of distribution by the reporting person under the Plan, such units are payable in the Issuer's Common Stock or cash, at the election of the reporting person, upon separation from service as a director.