Form 4 for VVV VALVOLINE INC
Accepted 2021-11-15 00:00:00 ET · period of report 2021-11-11 · accession 0001674910-21-000124 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2021-11-15 | 2021-11-11+ | VVV | Caldwell Jonathan L. | CHRO | F - Tax | $35.22 | -1,176 | 5,252 | -18% | -$41.4K |
| D | 2021-11-15 | 2021-11-11 | VVV | Caldwell Jonathan L. | CHRO | A - Grant | — | +2,443 | 5,213 | +88% | — |
| DM | 2021-11-15 | 2021-11-12 | VVV | Caldwell Jonathan L. | CHRO | M - OptEx | — | +1,215 | 5,453 | +29% | — |
| DM | 2021-11-15 | 2021-11-12 | VVV | Caldwell Jonathan L. | CHRO | M - OptEx | $0.00 | -1,215 | 1,250 | -49% | $0 |
| DM | 2021-11-15 | 2021-11-11 | VVV | Caldwell Jonathan L. | CHRO | A - Grant | $0.00 | +7,320 | 1,630 | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2021-11-11 | F | D | 785 | $35.25 | 4,428 | D | — | — | |
| 2 | Common | Common Stock | 2021-11-11 | A | A | 2,443 | — | 5,213 | D | — | — | (F1) Represents shares earned from the FY19-FY21 performance stock unit ("PSU") award granted on November 19, 2018, as certified by the Compensation Committee of the Board of Directors on November 11, 2021. Earned PSUs became 100% vested on the last day of the performance period. The PSUs were measured against EPS performance goals over three separate one-year measurement periods for each of FY19, FY20 and FY21, and a fourth cumulative FY19-FY21 measurement period with a potential payout of 0% to 200% of Target. Each measurement period was weighted equally at 25%. The entire PSU payout was subject to a payment modifier (-25%, 0% or +25%) based on Valvoline's FY19-FY21 total shareholder return relative to the companies in the S&P MidCap 400 Index. Based on Valvoline's EPS performance and relative TSR performance, the Compensation Committee awarded a PSU payout equal to 144.5% of Target. (F2) Restricted stock units and performance stock units convert into Valvoline common stock on a one-for-one basis. |
| 3 | Common | Common Stock | 2021-11-12 | M | A | 591 | — | 5,019 | D | — | — | (F2) Restricted stock units and performance stock units convert into Valvoline common stock on a one-for-one basis. |
| 4 | Common | Common Stock | 2021-11-12 | F | D | 190 | $35.16 | 4,829 | D | — | — | |
| 5 | Common | Common Stock | 2021-11-12 | M | A | 624 | — | 5,453 | D | — | — | (F2) Restricted stock units and performance stock units convert into Valvoline common stock on a one-for-one basis. |
| 6 | Common | Common Stock | 2021-11-12 | F | D | 201 | $35.16 | 5,252 | D | — | — | |
| 7 | Derivative | FY 2020 Restricted Stock Units | 2021-11-12 | M | D | 591 | $0.00 | 591 | D | — · — to — | 591 Common Stock | (F2) Restricted stock units and performance stock units convert into Valvoline common stock on a one-for-one basis. (F3) The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date. |
| 8 | Derivative | FY 2022 Stock Appreciation Rights | 2021-11-11 | A | A | 5,690 | $0.00 | 5,690 | D | $35.25 · — to 2031-11-11 | 5,690 Common Stock | (F4) Fifty percent (50%) of the stock appreciation rights vest on the first anniversary of the grant date and 25% vest on each of the second and third anniversaries of the grant date. |
| 9 | Derivative | FY 2021 Restricted Stock Units | 2021-11-12 | M | D | 624 | $0.00 | 1,250 | D | — · — to — | 624 Common Stock | (F2) Restricted stock units and performance stock units convert into Valvoline common stock on a one-for-one basis. (F3) The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date. |
| 10 | Derivative | FY 2022 Restricted Stock Units | 2021-11-11 | A | A | 1,630 | $0.00 | 1,630 | D | — · — to — | 1,630 Common Stock | (F2) Restricted stock units and performance stock units convert into Valvoline common stock on a one-for-one basis. (F3) The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date. |