SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

WILLIS J KEVIN

(Last)

(First)

(Middle)

50 E. RIVERCENTER BLVD.

(Street)

COVINGTON

41011

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/03/2013

3. Issuer Name and Ticker or Trading Symbol
ASHLAND INC. [ ASH ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	13,836⁽¹⁾	I	401(k)
Common Stock	1,012	D
Restricted Stock	10,302⁽²⁾	D
Common Stock	887⁽³⁾	I	LESOP

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Appreciation Right	11/15/2007	12/15/2016	Common Stock	2,900	$65.78⁽⁴⁾	D
Stock Appreciation Right	11/18/2010	12/18/2019	Common Stock	1,600	$37.69⁽⁴⁾	D
Stock Appreciation Right	11/17/2011	12/17/2020	Common Stock	2,500	$51.86⁽⁴⁾	D
Stock Appreciation Right	12/02/2012	01/02/2022	Common Stock	4,900	$55.56⁽⁵⁾	D
Stock Appreciation Right	11/14/2013	12/14/2022	Common Stock	5,800	$70.37⁽⁵⁾	D
Common Stock Units	⁽⁶⁾	⁽⁶⁾	Common Stock	14,764	⁽⁷⁾	D

Explanation of Responses:

1. Based on Employee Savings Plan information as of April 26, 2013, the latest date for which such information is reasonably available.

2. Represents shares of Restricted Common Stock acquired pursuant to Ashland's stock incentive plans as approved by the shareholders and exempt pursuant to Rule 16b-3.

3. Shares accrued under Ashland's Leveraged Employee Stock Ownership Plan as of 4/26/2013.

4. Stock Appreciation Right granted pursuant to the 2006 Ashland Inc. Incentive Plan which vests in three annual installments: 50% after the 1st year, the next 25% the 2nd year and the remaining 25% the 3rd year.

5. Stock Appreciation Right granted pursuant to the 2011 Ashland Inc. Incentive Plan which vests in three annual installments: 50% after the 1st year, the next 25% the 2nd year and the remaining 25% the 3rd year.

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

7. 1 for 1.

	/s/ David A. Rines, Attorney-in-Fact	05/03/2013
	** 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 5 (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).
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