Ashland Global Holdings Inc.
ASHLAND GLOBAL HOLDINGS INC (Form: 4, Received: 06/06/2017 21:39:19)
FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

CUMMINS BRENDAN
2. Issuer Name and Ticker or Trading Symbol

ASHLAND GLOBAL HOLDINGS INC [ ASH ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

50 E. RIVERCENTER BOULEVARD
3. Date of Earliest Transaction (MM/DD/YYYY)

6/2/2017
(Street)

COVINGTON, KY 41011
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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 Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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) 6/2/2017     A      6887   (2)        (3)   (3) Common Stock   6887   $0   (3) 14682   (4) D    

Explanation of Responses:
(1)  Each Restricted Stock Unit represents a right to receive one (1) share of Ashland Common Stock.
(2)  Represents the sum of 6,887 restricted stock units granted pursuant to the adjustment described in this footnote. Ashland Global Holdings Inc. ("Ashland") distributed to its stockholders on May 12, 2017 (the "Distribution Date") 170,000,000 shares of Valvoline Inc. ("Valvoline") common stock as a pro rata dividend (the "Distribution"). Pursuant to the terms of the applicable equity compensation plan, the Reporting Person was entitled to receive the number of restricted stock units equal to the quotient of (x) the closing price of Ashland common stock on the Distribution Date and (y) the simple arithmetic average of the volume-weighted average price of Ashland common stock for each of the ten consecutive trading days immediately following the Distribution Date (such quotient, the "Equity Award Adjustment Ratio") for each such restricted stock unit. Balance also includes 24 additional restricted stock units acquired in lieu of cash dividends paid on March 15, 2017, pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors, exempt under Rule 16b-3 and converted as described in this footnote 2.
(3)  The restricted stock units described in footnote (2) vest upon the same terms and conditions as were applicable to the Reporting Person's awards of restricted stock units immediately prior to the Distribution.
(4)  The balance includes 24 additional restricted stock units acquired in lieu of cash dividends paid on March 15, 2017, pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors, exempt under Rule 16b-3 and converted as described in footnote 2.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
CUMMINS BRENDAN
50 E. RIVERCENTER BOULEVARD
COVINGTON, KY 41011
X



Signatures
/s/ Jennifer I. Henkel, Attorney-in-Fact 6/6/2017
** Signature of Reporting Person Date


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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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