Robert Travis Dobbins - Nov 20, 2023 Form 4 Insider Report for VALVOLINE INC (VVV)

Role: Chief Technology Officer
Signature: /s/ Ian C. Lofwall, Attorney-in-Fact
Stock symbol: VVV
Transactions as of: Nov 20, 2023
Transactions value $: -$46,924
Form type: 4
Date filed: 11/21/2023, 04:04 PM
Previous filing: Nov 20, 2023
Next filing: Nov 30, 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VVV	Common Stock	Options Exercise		+4.32K	+37.54%		15.8K	Nov 20, 2023	Direct	F1
transaction	VVV	Common Stock	Tax liability	-$46.9K	-1.34K	-8.49%	$34.94	14.5K	Nov 20, 2023	Direct
holding	VVV	Common Stock						1.95K	Nov 20, 2023	By 401(k) Plan	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VVV	Performance Stock Units	Options Exercise	$0	-4.32K	-100%	$0.00^*	0	Nov 20, 2023	Common Stock	4.32K		Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Performance stock units convert into Valvoline common stock on a one-for-one basis.
F2	Represents 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 on the Transaction Date.
F3	Represents PSUs earned from the FY21-FY23 performance period as certified by the Compensation Committee of the Board of Directors on Nov. 16, 2023. The earned PSUs became 100% vested on September 30, 2023 and are distributed as soon as practicable after certification of the award by the Compensation Committee.