Woodward, Inc. — Director's Dealing 2016

Feb 1, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Woodward, Inc. (WWD)
CIK: 0000108312
Period of Report: 2016-01-29

Reporting Person: Rittenberg Larry E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-29	Woodward, Inc. Common Stock	M	5200	$18.49	Acquired	30602	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-29	Non-Qualified Stock Option (Right to Buy)	$18.49	M	5200	Disposed	2016-11-15	Woodward, Inc. Common Stock (5200)	Direct

Footnotes

F1: Options become exercisable at a rate of 25% per year beginning on the exercisable date shown.