Woodward, Inc. — Director's Dealing 2014

Nov 25, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Woodward, Inc. (WWD)
CIK: 0000108312
Period of Report: 2014-11-20

Reporting Person: HALBROOK JOHN A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-11-20	Woodward, Inc. Common Stock	S	3000	$51.25	Disposed	459130.678	Direct
2014-11-20	Woodward, Inc. Common Stock	S	4000	$51.50	Disposed	455130.678	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Woodward, Inc. Common Stock	245000	Indirect
Woodward, Inc. Common Stock	134472	Indirect
Woodward, Inc. Common Stock	100528	Indirect
Woodward, Inc. Common Stock	254343	Indirect

Footnotes

F1: Shares sold by the Halbrook Family Foundation.

F2: Holding total reflects 245,000 shares transferred, without consideration, to the John A. Halbrook Grantor Retained Annuity Trust.

F3: Totals reflect transfers, without consideration, between the Benita K. Halbrook GRAT and the Benita K. Halbrook Living Trust.

F4: Total reflects transfer, without consideration, of 4,021 shares to the John Halbrook Living Trust (the "Living Trust"). Shares held by the Living Trust are reported within the Reporting Person's direct ownership.