[Form 4] ASHLAND INC. Insider Trading Activity

Rhea-AI Filing Summary

Ashland Inc. (ASH) reported that senior vice president, general counsel and secretary Robin E. Lampkin filed a Form 4 for equity transactions on 11/17/2025. The filing shows the exercise of 239 Restricted Stock Units into common stock at a reference price of $49.6 per share and the withholding of 72 shares of common stock to cover tax obligations related to vesting.

After these transactions, Lampkin directly owned 5,023 shares of Ashland common stock and indirectly held 854 shares through a 401(k) plan. The RSUs were granted under Ashland’s shareholder‑approved incentive plan and are noted as exempt under Rule 16b‑3, with each RSU representing one share of common stock upon vesting.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LAMPKIN ROBIN E.

(Last) (First) (Middle)

8145 BLAZER DRIVE

(Street)

WILMINGTON DE 19808

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ASHLAND INC. [ ASH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Gen Counsel and Secrty.

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/17/2025		M		239	A	$49.6	5,095	D
Common Stock	11/17/2025		F(1)		72	D	$49.6	5,023	D
Common Stock								854(2)	I	By 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(3)	11/17/2025		M			239	(4)	(4)	Common Stock	239	$0	0	D

Explanation of Responses:

1. Payment of a tax liability by withholding securities incident to the vesting of Restricted Stock Units acquired pursuant to Ashland's incentive plan as approved by the shareholders and exempt pursuant to Rule 16b-3.

2. Total inlcudes dividends accrued in reporting person's 401(k) savings plan.

3. Each Restricted Stock Unit (RSU) represents a right to receive one (1) share of Ashland Common Stock upon vesting.

4. Grant of Restricted Stock Units pursuant to Ashland's incentive plan as approved by the shareholders and exempt pursuant to Rule 16b-3. The shares in this grant vest in three equal installments beginning one year from the date of grant, provided that the Reporting Person remains in continuous employment with the issuer.

	/s/ Serena S. Kenost, Attorney-in-fact for Robin E. Lampkin	11/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Ashland (ASH) report for November 17, 2025?

The filing reports that Robin E. Lampkin, an officer of Ashland, exercised 239 Restricted Stock Units into common stock on 11/17/2025 and had shares withheld to cover taxes.

How many Ashland (ASH) shares does Robin E. Lampkin own after the reported transactions?

Following the reported transactions, Lampkin directly owned 5,023 shares of Ashland common stock and indirectly held 854 shares through a 401(k) plan.

What was the price associated with the Ashland (ASH) RSU transaction on November 17, 2025?

The common stock transactions related to the RSU vesting in the filing are shown at a price of $49.6 per share.

How were taxes handled on the Ashland (ASH) RSU vesting for Robin E. Lampkin?

The filing explains that 72 shares of common stock were disposed of through withholding to pay a tax liability arising from the vesting of Restricted Stock Units.

What does each Ashland (ASH) Restricted Stock Unit represent in this Form 4?

Each Restricted Stock Unit (RSU) represents a right to receive one share of Ashland common stock upon vesting, under the company’s shareholder‑approved incentive plan.

Who is the reporting person in this Ashland (ASH) Form 4 and what is their role?

The reporting person is Robin E. Lampkin, who serves as Senior Vice President, General Counsel and Secretary of Ashland Inc.