Lockwood Frances E.

SEC source: 0000950157-17-000872 · form4.xml · derivative · entry 7

Lockwood Frances E. · CIK 0001685734 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,801

Underlying: Common Stock · 7,801 shares

Expires 2024-12-12

F15 · derivative.exercise_price: 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 $112.91 was converted to $20.99.

F15 · price: 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 $112.91 was converted to $20.99.

F16 · derivative.exercise_date: Fifty percent (50%) of the stock appreciation rights vested on November 12, 2015, twenty-five percent (25%) of the stock appreciation rights vested on November 12, 2016 and twenty-five percent (25%) of the stock appreciation rights vest on November 12, 2017.

SEC source: 0000950157-17-000872 · form4.xml · derivative · entry 6

Lockwood Frances E. · CIK 0001685734 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,070

Underlying: Common Stock · 8,070 shares

Expires 2023-12-13

F13 · derivative.exercise_price: 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 $89.69 was converted to $16.67.

F13 · price: 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 $89.69 was converted to $16.67.

F14 · derivative.exercise_date: Fifty percent (50%) of the stock appreciation rights vested on November 13, 2014, twenty-five percent (25%) of the stock appreciation rights vested on November 13, 2015 and twenty-five percent (25%) of the stock appreciation rights vested on November 13, 2016.

SEC source: 0000950157-17-000872 · form4.xml · derivative · entry 5

Lockwood Frances E. · CIK 0001685734 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,679

Underlying: Common Stock · 16,679 shares

Expires 2022-12-14

F11 · derivative.exercise_price: 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 $70.37 was converted to $13.08.

F11 · price: 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 $70.37 was converted to $13.08.

F12 · derivative.exercise_date: Fifty percent (50%) of the stock appreciation rights vested on November 14, 2013, twenty-five percent (25%) of the stock appreciation rights vested on November 14, 2014 and twenty-five percent (25%) of the stock appreciation rights vested on November 14, 2015.

SEC source: 0000950157-17-000872 · form4.xml · derivative · entry 4

Lockwood Frances E. · CIK 0001685734 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,380

Underlying: Common Stock · 5,380 shares

Expires 2022-01-02

F9 · derivative.exercise_price: 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 $55.56 was converted to $10.33.

F9 · price: 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 $55.56 was converted to $10.33.

F10 · derivative.exercise_date: Fifty percent (50%) of the stock appreciation rights vested on December 2, 2012, twenty-five percent (25%) of the stock appreciation rights vested on December 2, 2013 and twenty-five percent (25%) of the stock appreciation rights vested on December 2, 2014.

SEC source: 0000950157-17-000872 · form4.xml · derivative · entry 3

Lockwood Frances E. · CIK 0001685734 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,443

Underlying: Common Stock · 4,443 shares

Expires not disclosed

F4 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one (1) share of Valvoline common stock.

F5 · shares: Represents the sum of 3,188 restricted stock units granted pursuant to the adjustment described in footnote (6) below and 1,255 restricted stock units granted pursuant to the plan described in footnote (7) below.

F6 · shares: Pursuant to the terms of the Employee Matters Agreement, the Reporting Person was entitled to receive the number of restricted stock units of Valvoline equal to the Equity Award Exchange Ratio for each such restricted stock unit.

F7 · shares: Pursuant to the terms of the FY 2016-2018 Long Term Incentive Plan (the "LTIP Plan"), upon the Distribution, one-third of the Reporting Person's performance units under the LTIP Plan became convertible into 233 time-based, stock-settled restricted stock units immediately following the 120th day following the consummation of the Distribution. Pursuant to the terms of the LTIP Plan, each such time-based, stock settled restricted stock unit was further adjusted into the number of time-based, stock settled restricted stock units equal to the Equity Award Exchange Ratio.

F5 · price: Represents the sum of 3,188 restricted stock units granted pursuant to the adjustment described in footnote (6) below and 1,255 restricted stock units granted pursuant to the plan described in footnote (7) below.

F6 · price: Pursuant to the terms of the Employee Matters Agreement, the Reporting Person was entitled to receive the number of restricted stock units of Valvoline equal to the Equity Award Exchange Ratio for each such restricted stock unit.

F7 · price: Pursuant to the terms of the FY 2016-2018 Long Term Incentive Plan (the "LTIP Plan"), upon the Distribution, one-third of the Reporting Person's performance units under the LTIP Plan became convertible into 233 time-based, stock-settled restricted stock units immediately following the 120th day following the consummation of the Distribution. Pursuant to the terms of the LTIP Plan, each such time-based, stock settled restricted stock unit was further adjusted into the number of time-based, stock settled restricted stock units equal to the Equity Award Exchange Ratio.

F8 · derivative.exercise_date: The restricted stock units described in footnote (6) above 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. The restricted stock units described in footnote (7) above vest upon the third anniversary of the grant date (i.e. November 18, 2018) so long as the Reporting Person remains employed through such vesting date.

F8 · derivative.expiration_date: The restricted stock units described in footnote (6) above 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. The restricted stock units described in footnote (7) above vest upon the third anniversary of the grant date (i.e. November 18, 2018) so long as the Reporting Person remains employed through such vesting date.

SEC source: 0000950157-17-000872 · form4.xml · nonDerivative · entry 1

Lockwood Frances E. · CIK 0001685734 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,140

F1 · price: 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 shares of restricted stock 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 share of restricted stock.

F2 · balance_after: Includes 640 shares of unvested restricted stock.

SEC source: 0000947871-17-000891 · ss66623_4a.xml · nonDerivative · entry 1

Lockwood Frances E. · CIK 0001685734 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,875

F3 · price: 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 Reporting Person was entitled to receive the number of shares of restricted stock 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 for each such share of restricted stock.

F1 · balance_after: This amendment to the Statement of Beneficial Ownership of Securities on Form 4, filed with the Securities and Exchange Commission on June 8, 2017 (the "Original Form 4"), is being filed to correct the Original Form 4 filing to add 17,735 shares held directly by the Reporting Person that were inadvertently not included on the Original Form 4.

F2 · balance_after: Includes 640 shares of unvested restricted stock.

SEC source: 0000950157-17-000819 · form4.xml · derivative · entry 1

Lockwood Frances E. · CIK 0001685734 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 15,909.382

Underlying: Common Stock · 15,909.382 shares

Expires not disclosed

F1 · derivative.exercise_price: Each unit represents a contingent right to receive one share of Valvoline Inc. ("Valvoline") common stock upon distribution. Subject to the terms and requirements of the Valvoline 2016 Deferred Compensation Plan for Employees (the "Plan"), the reporting person may elect to transfer certain units held within the Plan to another hypothetical investment alternative.

F3 · price: Ashland Global Holdings Inc. ("Ashland") distributed to its stockholders on May 12, 2017 (the "Distribution Date") 170,000,000 shares of 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, each of the reporting person's 2,956.917 outstanding units of Ashland was converted into the number of units of Valvoline obtained by dividing (a) the closing price of Ashland common stock on the Distribution Date by (b) 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.

F2 · derivative.exercise_date: Shares of Valvoline common stock become payable in respect of the units upon the event of an unforeseeable emergency (as defined in the Plan) or the reporting person's death, disability or separation from service, in accordance with the terms of the Plan. The reporting person may elect to transfer certain units held within the Plan to another hypothetical investment alternative at any time.

F2 · derivative.expiration_date: Shares of Valvoline common stock become payable in respect of the units upon the event of an unforeseeable emergency (as defined in the Plan) or the reporting person's death, disability or separation from service, in accordance with the terms of the Plan. The reporting person may elect to transfer certain units held within the Plan to another hypothetical investment alternative at any time.

SEC source: 0000950157-16-002270 · form4.xml · nonDerivative · entry 1

Lockwood Frances E. · CIK 0001685734 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,500