0001674910-22-000123.txt : 20221121
0001674910-22-000123.hdr.sgml : 20221121
20221121175112
ACCESSION NUMBER: 0001674910-22-000123
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20221117
FILED AS OF DATE: 20221121
DATE AS OF CHANGE: 20221121
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: O'Daniel Julie Marie
CENTRAL INDEX KEY: 0001685295
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-37884
FILM NUMBER: 221406906
MAIL ADDRESS:
STREET 1: 3499 BLAZER PARKWAY
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_166907105483021.xml
FORM 4
X0306
4
2022-11-17
0
0001674910
VALVOLINE INC
VVV
0001685295
O'Daniel Julie Marie
100 VALVOLINE WAY
LEXINGTON
KY
40509
0
1
0
0
CLO and Corp. Secy
Common Stock
2022-11-17
4
A
0
14560
A
30790
D
Common Stock
2022-11-17
4
F
0
4674
32.87
D
26116
D
Common Stock
3030
I
By 401(k) Plan
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.
PSUs convert into Valvoline common stock on a one-for-one basis.
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 earliest Transaction Date.
/s/ Ian C. Lofwall, Attorney-in-Fact
2022-11-21