Woodward, Inc. — Director's Dealing 2016

Feb 5, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Woodward, Inc. (WWD)
CIK: 0000108312
Period of Report: 2016-02-03

Reporting Person: DONOVAN PAUL (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-03	Woodward, Inc. Common Stock	P	2457	$44.54	Acquired	38334	Direct
2016-02-04	Woodward, Inc. Common Stock	P	143	$45.40	Acquired	1231.535	Indirect

Footnotes

F1: The reporting person purchase through a broker-dealer which resulted in multiple same day, same way open market purchases, with prices ranging from $44.42 to $44.85 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: The reporting person disclaims beneficial ownership of the shares held by his wife, and this report should not be deemed an admission that the reporting person is the beneficial owner of his wife's shares for purposes of Section 16 or for any other purposes. Shares held by the reporting person's wife were inadvertently omitted by the issuer, Woodward, Inc., from certain Forms 4 and/or Form 4/A previously filed on the reporting person's behalf.