Woodward, Inc. — Director's Dealing 2014

Nov 18, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Woodward, Inc. (WWD)
CIK: 0000108312
Period of Report: 2014-11-14

Reporting Person: Preiss Chad Robert (President, Engine Systems)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-11-14	Woodward, Inc. Common Stock	M	16000	$11.9084	Acquired	23699.622	Direct
2014-11-14	Woodward, Inc. Common Stock	S	16000	$51.00	Disposed	7699.622	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-11-14	Nonqualified Stock Option (Right to buy)	$11.9084	M	16000	Disposed	2014-11-24	Woodward, Inc. Common Stock (16000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Woodward, Inc. Common Stock	13839.46	Indirect

Footnotes

F1: Due to a clerical error, the number of shares reported as directly beneficially owned by the Reporting Person was understated by approximately 12 shares, and the Reporting Person is not aware of any transactions that have not been reported. Accordingly, the number of shares reported in column 5 has been adjusted to reflect the Reporting Person's current ownership.

F2: The information in this report regarding the number of shares held by Mr. Preiss in the Woodward Retirement Savings Plan is based on a calculation as of November 14, 2014.

F3: Options, which expire on November 24, 2014, became exercisable at the rate of 25% per year beginning November 24, 2005.