Ashland insider Samuel Richardson receives RSU and SAR awards

Rhea-AI Filing Summary

Ashland Inc. reported an insider equity award for one of its senior executives. On November 19, 2025, Vice President, Controller and Principal Accounting Officer Samuel Richardson received 1,738 Restricted Stock Units (RSUs), with each RSU representing one share of Ashland common stock. These RSUs were granted under Ashland’s shareholder-approved incentive plan and vest in three equal installments beginning one year from the grant date, as long as he remains continuously employed.

On the same date, Richardson was also granted 3,912 Stock Appreciation Rights (SARs) under the Ashland Inc. 2021 Omnibus Incentive Compensation Plan, with an exercise price of $50.58 per share. The SARs become exercisable ratably over three years starting on the first anniversary of the grant and are tied to 3,912 shares of common stock, with an expiration date of November 19, 2035.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider RICHARDSON SAMUEL

Role VP, Controller and PAO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	1,738	$0.00	--
Grant/Award	Stock Appreciation Rights	3,912	$0.00	--

Holdings After Transaction: Restricted Stock Units — 1,738 shares (Direct); Stock Appreciation Rights — 3,912 shares (Direct)

Footnotes (1)

1. Each Restricted Stock Unit (RSU) represents a right to receive one (1) share of ASH Common Stock. Grant of Restricted Stock Units on November 19, 2025, 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. Stock Appreciation Rights (SARs) granted under the Ashland Inc. 2021 Omnibus Incentive Compensation Plan. SARs become exercisable ratably over three years beginning on the first anniversary from the date of grant.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
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^*

RICHARDSON SAMUEL

(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)
	VP, Controller and PAO

3. Date of Earliest Transaction (Month/Day/Year)
11/19/2025

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

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 Units	(1)	11/19/2025		A		1,738		(2)	(2)	Common Stock	1,738	$0	1,738	D
Stock Appreciation Rights(3)	$50.58	11/19/2025		A		3,912		(4)	11/19/2035	Common Stock	3,912	$0	3,912	D

Explanation of Responses:

1. Each Restricted Stock Unit (RSU) represents a right to receive one (1) share of ASH Common Stock.

2. Grant of Restricted Stock Units on November 19, 2025, 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.

3. Stock Appreciation Rights (SARs) granted under the Ashland Inc. 2021 Omnibus Incentive Compensation Plan.

4. SARs become exercisable ratably over three years beginning on the first anniversary from the date of grant.

	/s/ Serena S. Kenost, Attorney-In-Fact for Samuel Richardson	11/21/2025
	** 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 did Ashland Inc. (ASH) report in this Form 4 filing?

Ashland Inc. reported equity compensation grants to officer Samuel Richardson, including 1,738 Restricted Stock Units and 3,912 Stock Appreciation Rights awarded on November 19, 2025.

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

The reporting person is Samuel Richardson, who serves as Vice President, Controller and Principal Accounting Officer of Ashland Inc.

How many Restricted Stock Units did Ashland (ASH) grant to Samuel Richardson?

Ashland granted 1,738 Restricted Stock Units (RSUs) to Samuel Richardson, with each RSU representing a right to receive one share of Ashland common stock.

What is the vesting schedule for the Ashland (ASH) RSUs granted on November 19, 2025?

The 1,738 RSUs granted on November 19, 2025 vest in three equal installments beginning one year from the grant date, provided Samuel Richardson remains in continuous employment with Ashland.

How many Stock Appreciation Rights did Ashland (ASH) grant and at what exercise price?

Ashland granted 3,912 Stock Appreciation Rights (SARs) to Samuel Richardson with an exercise price of $50.58 per share, tied to 3,912 shares of Ashland common stock.

When do the Ashland (ASH) Stock Appreciation Rights become exercisable and when do they expire?

The SARs become exercisable ratably over three years starting on the first anniversary of the November 19, 2025 grant date and have an expiration date of November 19, 2035.

Under which plans were the Ashland (ASH) RSUs and SARs granted?

The RSUs were granted under Ashland’s shareholder-approved incentive plan and are exempt under Rule 16b-3, while the SARs were granted under the Ashland Inc. 2021 Omnibus Incentive Compensation Plan.