Charles M Sonsteby, a director of VALVOLINE INC, just received 4,586 restricted shares from the company. The restricted shares don't become available to Sonsteby until such time as they become vested. Sonsteby now owns at least 32,124 restricted shares of the company.
Some additional info was provided as follows:
Each unit represents a right to receive one share of Valvoline common stock.
Represents annual award of units pursuant to Valvoline's 2016 Deferred Compensation Plan for Non-Employee Directors.
The units vest one year after the date of grant. Any vested units will be paid in cash or in shares of common stock at the time specified in the reporting person's distribution election form, or if no election is made, upon separation from service.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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