Woodward, Inc. — Director's Dealing 2018

Dec 6, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Woodward, Inc. (WWD)
CIK: 0000108312
Period of Report: 2018-12-03

Reporting Person: Fawzy Christopher (VP, Gen Counsel & Corp Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-12-03	Woodward, Inc. Common Stock	M	3000	$23.18	Acquired	6506	Direct
2018-12-03	Woodward, Inc. Common Stock	S	3000	$85.00	Disposed	3506	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-12-03	Nonqualified Stock Option (right to buy)	$23.18	M	3000	Disposed	2019-09-30	Woodward, Inc. Common Stock (3000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Woodward, Inc. Common Stock	2512.38	Indirect

Footnotes

F1: The information in this report regarding the number of shares held by the reporting person in the Woodward Retirement Savings Plan (the "Plan") is based on a calculation as of December 3, 2018 and includes 8.12 shares acquired under the Plan since the date of the reporting person's last Form 4 with Table I reporting.

F2: Options, which expire September 30, 2019, became exercisable as to 25% of the shares on October 1, 2010, and each one-year anniversary thereafter.