SEC Form 4 · accession 0001674910-19-000010
VALVOLINE INC · VVV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Craig A. Moughler
Officer — Senior Vice President
Period of report
Jan 17, 2019
Accepted (ET)
Jan 22, 2019 · 5:43 pm EST
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 Stock | Jan 17, 2019 | M | 6,456 | $10.33 | A | 27,221 | D | |
| Common StockF2 | Jan 17, 2019 | F | 4,362 | $21.26 | D | 22,859 | D | |
| Common StockF3 | Jan 18, 2019 | S | 2,551 | $21.88 | D | 20,308 | D | |
| Common StockF4 | holding | — | — | — | 9,344 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2012 Stock Appreciation RightF5 | $10.33 | Jan 17, 2019 | M | 6,456 | A | — | Jan 2, 2022 | Common Stock | 6,456 | 0 | D |
Explanation of responses
- F1Transations were effected pursuant to a Rule 10b5-1 Plan adopted by the Reporting Person on November 9, 2018.
- F2Shares withheld by Valvoline to cover the exercise price and applicable withholding taxes on the Reporting Person's exercise of stock appreciation rights.
- F3The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $21.85 to $22.00, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission upon request full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F4Represents the approximate number of shares of Valvoline common stock held by the Reporting Person in the Valvoline 401(k) Plan based on the closing price of Valvoline common stock as of the close of business on January 18, 2019.
- F550% of the stock appreciation rights vested on the first anniversary of the grant date and 25% vested on each of the second and third anniversaries of the grant date.