Ashland (NYSE: ASH) director receives 2,449 deferred RSUs grant

Rhea-AI Filing Summary

Ashland Inc. director Sanat Chattopadhyay received a grant of 2,449 Restricted Stock Units (RSUs) on Ashland common stock as director compensation. Each RSU represents the right to receive one share of Ashland common stock. The grant was made under the Ashland Inc. Omnibus Incentive Plan.

The RSUs are stock-settled and have been deferred at the director’s election under the Ashland Inc. Deferred Compensation Plan for Non-Employee Directors until retirement from the board. The RSUs will vest one year after the grant date of January 20, 2026. Following this grant, the director beneficially holds 6,711 RSUs, a balance that includes additional RSUs credited in lieu of cash dividends.

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

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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^*

Chattopadhyay Sanat

(Last) (First) (Middle)

8145 BLAZER DRIVE

(Street)

WILMNGTON 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/20/2026

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)	01/20/2026		A		2,449		(2)	(2)	Common Stock	2,449	$61.23	6,711(3)	D

Explanation of Responses:

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

2. Grant of stock-settled Restricted Stock Units granted under the Ashland Inc. Omnibus Incentive Plan. The Restricted Stock Units are deferred at the election of the Reporting Person under the Ashland Inc. Deferred Compensation Plan for Non-Employee Directors until retirement from service as a director. The Restricted Stock Units will vest one year after the grant date. One (1) Restricted Stock Unit in the Ashland Inc. Deferred Compensation Plan for Non-Employee Directors is the equivalent of one (1) share of Ashland Common Stock.

3. Balance includes additional Restricted Stock Units acquired in lieu of cash dividends.

	/s/ Serena S. Kenost, Attorney-in-Fact for Sanat Chattopadhyay	01/21/2026
	** 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.
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FAQ

What equity award did Ashland (ASH) director Sanat Chattopadhyay receive?

Director Sanat Chattopadhyay received a grant of 2,449 Restricted Stock Units (RSUs) tied to Ashland common stock on January 20, 2026.

How many Ashland (ASH) RSUs does the director hold after this Form 4 transaction?

After the reported grant, the director beneficially owns 6,711 Restricted Stock Units, which includes RSUs previously acquired in lieu of cash dividends.

What does each Ashland (ASH) Restricted Stock Unit represent?

Each Restricted Stock Unit (RSU) represents a right to receive one share of Ashland common stock, according to the footnotes.

When do the newly granted Ashland (ASH) RSUs vest?

The 2,449 RSUs granted on January 20, 2026 will vest one year after the grant date, as disclosed in the award description.

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

The RSUs were granted under the Ashland Inc. Omnibus Incentive Plan and deferred at the director’s election under the Ashland Inc. Deferred Compensation Plan for Non-Employee Directors.

How are dividends treated on the Ashland (ASH) RSUs held by the director?

The balance of 6,711 RSUs includes additional Restricted Stock Units acquired in lieu of cash dividends, meaning dividends are credited as extra RSUs.

Is the Ashland (ASH) director’s RSU holding direct or indirect ownership?

The Form 4 lists the ownership form as direct (D) for the 6,711 Restricted Stock Units held following the reported transaction.