Form 4 for VVV VALVOLINE INC

Accepted 2022-11-21 00:00:00 ET · period of report 2022-11-17 · accession 0001674910-22-000120 · 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
	2022-11-21	2022-11-17	VVV	Meixelsperger Mary E	CFO	F - Tax	$32.87	-12.9K	110.2K	-11%	-$425.4K
	2022-11-21	2022-11-17	VVV	Meixelsperger Mary E	CFO	A - Grant	—	+34.7K	123.2K	+39%	—

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Stock	2022-11-17	F	D	12,942	$32.87	110,219	D	—	—
2	Common	Common Stock	2022-11-17	A	A	34,680	—	123,161	D	—	—	(F1) Represents shares earned from the FY20-FY22 performance stock unit ("PSU") award granted on November 14, 2019, as certified by the Compensation Committee of the Board of Directors on November 17, 2022. 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 FY20, FY21 and FY22, and a fourth cumulative FY20-FY22 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 FY20-FY22 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 200% of Target. (F2) PSUs convert into Valvoline common stock on a one-for-one basis.