Ashland (NYSE: ASH) director awarded 450 deferred Common Stock Units

Rhea-AI Filing Summary

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

Ashland Inc. director Steven D. Bishop received a grant of 450 Common Stock Units as deferred board compensation. The units were awarded at a reference price of $55.61 per unit under Ashland's Deferred Compensation Plan for Non-Employee Directors and are exempt under Rule 16b-3. Each unit is equivalent to one share of Ashland common stock and is generally payable in shares when he leaves the board. Following this grant, Bishop holds a total of 5,307 Common Stock Units, a balance that also reflects additional units credited in lieu of cash dividends.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bishop Steven D

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock Units	450	$55.61	$25K

Holdings After Transaction: Common Stock Units — 5,307 shares (Direct)

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: 450 units Reference price per unit: $55.61 per unit Units after transaction: 5,307 units +2 more

5 metrics

Common Stock Units granted 450 units Grant under Deferred Compensation Plan for Non-Employee Directors

Reference price per unit $55.61 per unit Value used for the 450 Common Stock Units grant

Units after transaction 5,307 units Total Common Stock Units held after the award

Unit-to-share ratio 1 for 1 One Common Stock Unit equals one Ashland common share

Transaction type Grant/award acquisition Code A, derivative-type Common Stock Units

Key Terms

Common Stock Units, Deferred Compensation Plan for Non-Employee Directors, Rule 16b-3, deferral election, +1 more

5 terms

Common Stock Units financial

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

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")"

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.

deferral election financial

"Subject to any deferral election on timing of distribution by the reporting person under the Plan"

separation from service financial

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

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^*

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)
03/31/2026

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)	03/31/2026		A(2)		450		(3)	(3)	Common Stock	450	$55.61	5,307(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	04/01/2026
	** 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 did Ashland (ASH) director Steven D. Bishop report in this Form 4?

Ashland director Steven D. Bishop reported receiving 450 Common Stock Units as a grant under the company’s Deferred Compensation Plan for Non-Employee Directors. These units are a form of stock-based compensation rather than an open-market purchase or sale of Ashland shares.

Is the Ashland (ASH) Form 4 transaction a stock purchase or sale?

The Form 4 transaction is an acquisition of 450 Common Stock Units as a grant or award, not an open-market stock purchase or sale. It reflects routine director compensation under Ashland’s deferred compensation plan for non-employee board members.

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

After this grant, Steven D. Bishop holds 5,307 Common Stock Units linked to Ashland common stock. This total includes the newly awarded 450 units and additional units previously credited in lieu of cash dividends under the deferred compensation plan.

What does one Common Stock Unit represent in Ashland’s (ASH) director plan?

Under Ashland’s Deferred Compensation Plan for Non-Employee Directors, one Common Stock Unit equals one share of Ashland common stock. The units track the value of common shares and are typically settled in stock when the director leaves board service.

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

The Common Stock Units are generally payable in Ashland common stock when Steven D. Bishop separates from service as a director. Payment timing can also reflect any deferral elections he makes under the terms of the deferred compensation plan.