4//SEC Filing
VALVOLINE INC 4
Accession 0000950157-17-000878
$VVVCIK 0001674910operating
Filed
Jun 7, 8:00 PM ET
Accepted
Jun 8, 7:00 PM ET
Size
8.7 KB
Accession
0000950157-17-000878
Insider Transaction Report
Form 4
Rios Victor T.
Chief Info. & Digital Officer
Transactions
- Award
Restricted Stock Unit
2017-06-06+10,046→ 10,046 total→ Common Stock (10,046 underlying) - Award
FY 2017 Stock Appreciation Right
2017-06-06+11,029→ 11,029 totalExercise: $20.29Exp: 2026-12-16→ Common Stock (11,029 underlying)
Footnotes (5)
- [F1]Each restricted stock unit represents a contingent right to receive one (1) share of Valvoline common stock.
- [F2]Ashland Global Holdings Inc. ("Ashland") distributed to its stockholders on May 12, 2017 (the "Distribution Date") 170,000,000 shares of Valvoline Inc. ("Valvoline") common stock as a pro rata dividend (the "Distribution"). Pursuant to the terms of the Employee Matters Agreement entered into between Ashland and Valvoline dated September 22, 2016 (the "Employee Matters Agreement"), the Reporting Person was entitled to receive the number of restricted stock units of Valvoline obtained by dividing (x) the closing price of Ashland common stock on the Distribution Date by (y) the simple arithmetic average of the volume-weighted average price of Valvoline common stock for each of the ten consecutive trading days immediately following the Distribution Date (such quotient, the "Equity Award Exchange Ratio") for each such restricted stock unit.
- [F3]The restricted stock units vest upon the same terms and conditions as were applicable to the Reporting Person's awards of restricted stock units of Ashland immediately prior to the Distribution.
- [F4]Pursuant to the terms of the Employee Matters Agreement, the Reporting Person was entitled to receive the number of stock appreciation rights of Valvoline equal to the Equity Award Exchange Ratio for each such stock appreciation right, and the original strike price of $109.15 was converted to $20.29.
- [F5]Fifty percent (50%) of the stock appreciation rights vest on November 16, 2017, twenty-five percent (25%) of the stock appreciation rights vest on November 16, 2018 and twenty-five percent (25%) of the stock appreciation rights vest on November 16, 2019.
Documents
Issuer
VALVOLINE INC
CIK 0001674910
Entity typeoperating
Related Parties
1- filerCIK 0001674910
Filing Metadata
- Form type
- 4
- Filed
- Jun 7, 8:00 PM ET
- Accepted
- Jun 8, 7:00 PM ET
- Size
- 8.7 KB