0001674910-20-000167.txt : 20201116
0001674910-20-000167.hdr.sgml : 20201116
20201116193152
ACCESSION NUMBER: 0001674910-20-000167
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20201112
FILED AS OF DATE: 20201116
DATE AS OF CHANGE: 20201116
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Caldwell Jonathan L.
CENTRAL INDEX KEY: 0001809539
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-37884
FILM NUMBER: 201318928
MAIL ADDRESS:
STREET 1: 100 VALVOLINE WAY
CITY: LEXINGTON
STATE: KY
ZIP: 40509
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: VALVOLINE INC
CENTRAL INDEX KEY: 0001674910
STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS PRODUCTS OF PETROLEUM & COAL [2990]
IRS NUMBER: 300939371
FISCAL YEAR END: 0930
BUSINESS ADDRESS:
STREET 1: 100 VALVOLINE WAY
CITY: LEXINGTON
STATE: KY
ZIP: 40509
BUSINESS PHONE: 859-357-2591
MAIL ADDRESS:
STREET 1: 100 VALVOLINE WAY
CITY: LEXINGTON
STATE: KY
ZIP: 40509
4
1
wf-form4_160557309739776.xml
FORM 4
X0306
4
2020-11-12
0
0001674910
VALVOLINE INC
VVV
0001809539
Caldwell Jonathan L.
100 VALVOLINE WAY
LEXINGTON
KY
40509
0
1
0
0
Chief People Officer
Common Stock
2020-11-12
4
A
0
728
A
728
D
Common Stock
2020-11-12
4
F
0
234
21.60
D
494
D
Common Stock
2020-11-13
4
M
0
520
A
1014
D
Common Stock
2020-11-13
4
F
0
167
22.35
D
847
D
Common Stock
2020-11-13
4
M
0
578
A
1425
D
Common Stock
2020-11-13
4
F
0
186
22.35
D
1239
D
FY 2021 Restricted Stock Units
2020-11-12
4
A
0
1840
0
A
Common Stock
1840.0
1840
D
FY 2021 Stock Appreciation Rights
21.6
2020-11-12
4
A
0
7790
0
A
2030-11-12
Common Stock
7790.0
7790
D
FY 2018 Restricted Stock Units
2020-11-13
4
M
0
520
0
D
Common Stock
520.0
0
D
FY 2020 Restricted Stock Units
2020-11-13
4
M
0
578
0
D
Common Stock
578.0
1160
D
Represents shares earned from the FY18-FY20 performance stock unit ("PSU") award granted on November 13, 2017, as certified by the Compensation Committee of the Board of Directors on November 12, 2020. 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 FY18, FY19 and FY20, and a fourth cumulative FY18-FY20 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 FY18-FY20 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 51.2% of Target.
Restricted stock units and performance stock units convert into Valvoline common stock on a one-for-one basis.
The restricted stock units vest in three equal annual installments beginning on the first anniversary of the grant date.
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.
/s/ Ian C. Lofwall, Attorney-in-Fact
2020-11-16