SEC Form 4 · accession 0000950157-17-000946
VALVOLINE INC · VVV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frances E. Lockwood
Officer — Chief Technology Officer
Period of report
Jun 15, 2017
Accepted (ET)
Jun 19, 2017 · 3:25 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001674910
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | holding | — | — | — | 6,296 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Equivalent RightF2 | — | Jun 15, 2017 | A | 1 | A | — | — | Common Stock | 1 | 1 | D |
| Dividend Equivalent RightF3 | — | Jun 15, 2017 | A | 7 | A | — | — | Common Stock | 7 | 7 | D |
| UnitF5,F4,F6 | — | Jun 15, 2017 | A | 33 | A | — | — | Common Stock | 33 | 15,942 | D |
Explanation of responses
- F1As of the close of business on June 15, 2017, the Reporting Person had acquired approximately 6,296 shares of Valvoline common stock under the Valvoline 401(k) Plan (based on the closing price of Valvoline common stock as of the close of business on June 15, 2017).
- F2The dividend equivalent rights accrued on shares of restricted stock and will vest upon the same terms and conditions as such shares of restricted stock. Each dividend equivalent right is the economic equivalent of one share of restricted stock.
- F3The dividend equivalent rights accrued on restricted stock units and will vest upon the same terms and conditions as such restricted stock units. Each dividend equivalent right is the economic equivalent of one restricted stock unit.
- F4Each unit represents a contingent right to receive one share of Valvoline common stock upon distribution.
- F5Acquired pursuant to the dividend reinvestment feature of the Valvoline 2016 Deferred Compensation Plan for Employees (the "Plan"), and exempt pursuant to Rule 16b-3.
- F6Shares of Valvoline common stock or cash become payable in respect of the units upon the event of an unforeseeable emergency (as defined in the Plan) or the Reporting Person's death, disability or separation from service, in accordance with the terms of the Plan.