Woodward, Inc. — Director's Dealing 2014

Nov 17, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Woodward, Inc. (WWD)
CIK: 0000108312
Period of Report: 2014-11-13

Reporting Person: PETROVICH MARY L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-11-13	Woodward, Inc. Common Stock	M	9000	$11.855	Acquired	19297	Indirect
2014-11-13	Woodward, Inc. Common Stock	D	9000	$50.50	Disposed	10297	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-11-13	Nonqualifed Stock Option (right to buy)	$11.855	M	9000	Disposed	2015-01-27	Woodward, Inc. Common Stock (9000)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Woodward, Inc. Common Stock	1703	Indirect
Woodward, Inc. Common Stock	4607	Direct

Footnotes

F1: The reporting person executed a trade order through a broker-dealer which resulted in multiple same day, same way open market purchases, with prices ranging from $50.49 to $50.54 per share. The reporting person has reported these purchases on an aggregate basis using the weighted average price for the transactions. The reporting person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Company or a security holder of the Company, full information regarding the number of shares purchased at each separate price.

F2: Options become exercisable at a rate of 25% per year beginning on the exercisable date shown.