Woodward, Inc. — Director's Dealing 2016

Jul 29, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Woodward, Inc. (WWD)
CIK: 0000108312
Period of Report: 2016-07-28

Reporting Person: PETROVICH MARY L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-07-28	Woodward, Inc. Common Stock	M	8200	$18.49	Acquired	23104	Direct
2016-07-28	Woodward, Inc. Common Stock	S	8200	$58.5357	Disposed	14904	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-07-28	Nonqualifed Stock Option (right to buy)	$18.49	M	8200	Disposed	2016-11-15	Woodward, Inc. Common Stock (8200)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Woodward, Inc. Common Stock	1703	Indirect

Footnotes

F1: Shares previously reported as indirectly held "By self as sole trustee of Petrovich Revocable Living Trust dated 05/14/2001" are deemed to be held directly.

F2: 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 $58.36 to $58.72 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.

F3: Options, which expire November 15, 2016, became exercisable as to 25% of the shares on November 15, 2007, and each one-year anniversary thereafter.