Ashland (ASH) director awarded 379 deferred Common Stock Units in equity plan

Rhea-AI Filing Summary

Bishop Steven D reported acquisition or exercise transactions in this Form 4 filing.

Ashland Inc. director Steven D. Bishop received an award of 379 Common Stock Units on Ashland’s Deferred Compensation Plan for Non-Employee Directors. Each unit is equal to one share of Ashland common stock and was valued at $65.89 per unit. Following the grant, Bishop holds a total of 5,720 Common Stock Units, which will be paid out in common stock after his separation from service as a director, subject to any deferral elections. The balance also reflects additional units credited in lieu of cash dividends.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bishop Steven D

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock Units	379	$65.89	$25K

Holdings After Transaction: Common Stock Units — 5,720 shares (Direct, null)

Footnotes (1)

1. 1 for 1. Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors (the "Plan") and exempt under Rule 16b-3. (One (1) Common Stock Unit in the Plan is the equivalent of one (1) share of Ashland Common Stock.) Subject to any deferral election on timing of distribution by the reporting person under the Plan, the Common Stock Units are payable in Common Stock upon the reporting person's separation from service as a director. Balance includes additional Common Stock Units acquired in lieu of cash dividends.

Key Figures

Common Stock Units granted: 379 units Grant value per unit: $65.89 per unit Total units after grant: 5,720 units +1 more

4 metrics

Common Stock Units granted 379 units Award under Deferred Compensation Plan on June 30, 2026

Grant value per unit $65.89 per unit Reference price for Common Stock Units grant

Total units after grant 5,720 units Common Stock Units held after the reported transaction

Underlying common stock 1 share per unit Each Common Stock Unit equals one share of Ashland common stock

Key Terms

Deferred Compensation Plan for Non-Employee Directors, Common Stock Units, Rule 16b-3, separation from service

4 terms

Deferred Compensation Plan for Non-Employee Directors financial

"Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors (the "Plan")"

Common Stock Units financial

"Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors"

A common stock unit is a tradable ownership interest that represents one or more ordinary shares in a company, giving the holder a stake in profits, a claim on assets after creditors, and usually voting rights on corporate matters. For investors it matters because these units determine how much of the company you own, how much influence you have, and how returns or losses are shared—think of owning slices of a pie that can be increased or diluted by the company’s actions.

Rule 16b-3 regulatory

"Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan ... and exempt under Rule 16b-3"

Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.

separation from service financial

"payable in Common Stock upon the reporting person's separation from service as a director"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/01/2026 - 04:30 PM Accepted by SEC EDGAR 07/01/2026 - 04:30 PM Learn about SEC filing dates

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^*

Bishop Steven D

(Last) (First) (Middle)

8145 BLAZER DRIVE

(Street)

WILMINGTON DELAWARE 19808

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

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

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

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

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
Common Stock Units	(1)	06/30/2026		A(2)		379		(3)	(3)	Common Stock	379	$65.89	5,720(4)	D

Explanation of Responses:

1. 1 for 1.

2. Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors (the "Plan") and exempt under Rule 16b-3. (One (1) Common Stock Unit in the Plan is the equivalent of one (1) share of Ashland Common Stock.)

3. Subject to any deferral election on timing of distribution by the reporting person under the Plan, the Common Stock Units are payable in Common Stock upon the reporting person's separation from service as a director.

4. Balance includes additional Common Stock Units acquired in lieu of cash dividends.

	/s/ Serena S. Kenost, Attorney-In-Fact for Steven D. Bishop	07/01/2026
	** 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.
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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Ashland (ASH) report for Steven D. Bishop?

Ashland reported that director Steven D. Bishop received an award of 379 Common Stock Units under the company’s Deferred Compensation Plan for Non-Employee Directors. These units are a form of equity-based compensation, not an open-market stock purchase or sale.

How many Ashland (ASH) Common Stock Units does Steven D. Bishop hold after this Form 4?

After this award, Steven D. Bishop holds 5,720 Common Stock Units. This total includes the new 379-unit grant and prior units accumulated under the plan, including additional units credited in lieu of cash dividends over time.

What are Common Stock Units in Ashland’s (ASH) Deferred Compensation Plan for Non-Employee Directors?

Common Stock Units in Ashland’s plan each represent the economic equivalent of one share of Ashland common stock. They are bookkeeping entries under the deferred compensation plan and are ultimately payable in common stock rather than cash, providing equity-aligned compensation to directors.

When will Steven D. Bishop receive Ashland (ASH) shares for these Common Stock Units?

The Common Stock Units are payable in Ashland common stock upon Steven D. Bishop’s separation from service as a director. Timing can also be affected by any deferral elections he makes under the Deferred Compensation Plan for Non-Employee Directors.

Is the Ashland (ASH) Common Stock Unit award to Steven D. Bishop exempt under SEC rules?

Yes. The filing states that the Common Stock Units were acquired under Ashland’s Deferred Compensation Plan for Non-Employee Directors and are exempt under Rule 16b-3, which governs certain insider transactions involving employee and director benefit plans.