Woodward, Inc. - Director's Dealing 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WOODWARD GOVERNOR CO (WGOV)
CIK: 0000108312
Period of Report: 2007-11-29

Reporting Person: Benning Dennis M (Group Vice President)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-29	Woodward Governor Common Stock	M	6750	$15.4733	Acquired	6750	Direct
2007-11-29	Woodward Governor Common Stock	M	6000	$23.8167	Acquired	12750	Direct
2007-11-29	Woodward Governor Common Stock	M	5438	$27.00	Acquired	18188	Direct
2007-11-29	Woodward Governor Common Stock	M	3625	$36.98	Acquired	21813	Direct
2007-11-29	Woodward Governor Common Stock	S	21813	$68.55	Disposed	0	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-29	Nonqualified Stock Plan (Right to Buy)	$15.4733	M	6750	Disposed	2013-11-21	Common Stock (6750)	Direct
2007-11-29	Nonqualified Stock Plan (Right to Buy)	$23.8167	M	6000	Disposed	2014-11-24	Common Stock (6000)	Direct
2007-11-29	Nonqualified Stock Plan (Right to Buy)	$27.00	M	5438	Disposed	2015-11-23	Common Stock (5438)	Direct
2007-11-29	Nonqualified Stock Plan (Right to Buy)	$36.98	M	3625	Disposed	2016-11-15	Common Stock (3625)	Direct

F1: Shares received incident to the exercise of a security issued in accordance with Rule 16b-3.

F2: Transaction is the exercise of a derivative security; exercise price reported in column 2.