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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 M9pjK2I1ArvUSoYiDYzCWA==

<SEC-DOCUMENT>0001179110-03-010542.txt : 20031112
<SEC-HEADER>0001179110-03-010542.hdr.sgml : 20031111
<ACCEPTANCE-DATETIME>20031112145711
ACCESSION NUMBER:		0001179110-03-010542
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030930
FILED AS OF DATE:		20031112

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CARTER STEPHEN P
		CENTRAL INDEX KEY:			0001113703

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08408
		FILM NUMBER:		03993220

	BUSINESS ADDRESS:	
		STREET 1:		5001 NORTH SECOND STREET
		CITY:			ROCKFORD
		STATE:			IL
		ZIP:			61111

	MAIL ADDRESS:	
		STREET 1:		5001 NORTH SECOND STREET
		CITY:			ROCKFORD
		STATE:			IL
		ZIP:			61111

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WOODWARD GOVERNOR CO
		CENTRAL INDEX KEY:			0000108312
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRICAL INDUSTRIAL APPARATUS [3620]
		IRS NUMBER:				361984010
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		5001 N SECOND ST
		STREET 2:		P O BOX 7001
		CITY:			ROCKFORD
		STATE:			IL
		ZIP:			61125-7001
		BUSINESS PHONE:		8158777441

	MAIL ADDRESS:	
		STREET 1:		5001 N SECOND ST
		STREET 2:		PO BOX 7001
		CITY:			ROCKFORD
		STATE:			IL
		ZIP:			61125-7001
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 5 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType>
<periodOfReport>2003-09-30</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000108312</issuerCik>
        <issuerName>WOODWARD GOVERNOR CO</issuerName>
        <issuerTradingSymbol>WGOV</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001113703</rptOwnerCik>
            <rptOwnerName>CARTER STEPHEN P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5001 N. SECOND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ROCKFORD</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>61111</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Exec. VP, CFO &amp; Treasurer</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Woodward Governor Company Common Stock</value>
</securityTitle>
<transactionDate><value>2003-09-30</value>
</transactionDate>
<transactionCoding><transactionFormType>5</transactionFormType>
<transactionCode>J</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>60</value>
</transactionShares>
<transactionPricePerShare><footnoteId id="F1"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>2723</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeTransaction><securityTitle><value>Woodward Governor Company Common Stock</value>
</securityTitle>
<transactionDate><value>2003-09-30</value>
</transactionDate>
<transactionCoding><transactionFormType>5</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>293</value>
</transactionShares>
<transactionPricePerShare><footnoteId id="F2"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>3100</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>Stock Plan</value>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable><derivativeTransaction><securityTitle><value>Phantom Stock Units</value>
</securityTitle>
<conversionOrExercisePrice><footnoteId id="F3"></footnoteId>
</conversionOrExercisePrice>
<transactionDate><value>2003-11-05</value>
</transactionDate>
<transactionCoding><transactionFormType>5</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>3652</value>
</transactionShares>
<transactionPricePerShare><footnoteId id="F3"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><footnoteId id="F3"></footnoteId>
</exerciseDate>
<expirationDate><footnoteId id="F3"></footnoteId>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Woodward Governor Company Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>25234</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>139444</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes><footnote id="F1">Annual update for automatic reinvestment of dividends</footnote>
<footnote id="F2">Annual update of company contributions to stock plan</footnote>
<footnote id="F3">The phantom stock units were accrued under the Woodward Executive Benefit Plan and are to be settled in 100% cash upon separation from the Company.</footnote>
</footnotes>
<ownerSignature><signatureName>Stephen P. Carter</signatureName>
<signatureDate>2003-11-12</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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