Woodward, Inc. — Director's Dealing 2017

Jan 28, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Woodward, Inc. (WWD)
CIK: 0000108312
Period of Report: 2017-01-25

Reporting Person: RULSEH JAMES R (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-25	Non-Qualified Stock Option (Right to Buy)	$62.57	A	7000	Acquired	2026-10-03	Woodward, Inc. Common Stock (7000)	Direct

Footnotes

F1: The option grant was approved by the compensation committee of the Issuer's board of directors on September 30, 2016, subject to stockholder approval of the incentive plan under which the option was granted. The Issuer's stockholders approved the plan on January 25, 2017.

F2: Options, which expire October 3, 2026, become exercisable as to 25% of the shares on October 3, 2017 and each one-year anniversary thereafter.