Woodward, Inc. — Director's Dealing 2020

Mar 5, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Woodward, Inc. (WWD)
CIK: 0000108312
Period of Report: 2020-03-04

Reporting Person: Preiss Chad Robert (Business Unit President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-04	Woodward, Inc. Common Stock	M	12500	$32.04	Acquired	29859.076	Direct
2020-03-04	Woodward, Inc. Common Stock	S	11720	$106.4986	Disposed	18139.076	Direct
2020-03-04	Woodward, Inc. Common Stock	S	780	$107.1744	Disposed	17359.076	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-04	Nonqualified Stock Option (Right to buy)	$32.04	M	12500	Disposed	2020-10-01	Woodward, Inc. Common Stock (12500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Woodward, Inc. Common Stock	20510	Indirect

Footnotes

F1: Total reflects 107.619 shares acquired upon reinvestment of dividends since the date of the reporting person's last Form 4 with Table I reporting.

F2: The reporting person sold shares in multiple same day, same way open market sales, with prices ranging from $106.02 to $107.01 per share. The reporting person has reported these sales on an aggregate basis using the weighted average price for the sales. The reporting person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F3: The reporting person sold shares in multiple same day, same way open market sales, with prices ranging from $107.09 to $107.38 per share. The reporting person has reported these sales on an aggregate basis using the weighted average price for the sales. 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 sold at each separate price.

F4: 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 February 21, 2020.

F5: Options, which expire October 1, 2020 became exercisable as to 25% of the shares on October 1, 2011 and each one-year anniversary thereafter.