X0306 4 2019-05-02 0 0000108312 Woodward, Inc. WWD 0001523231 Patel Sagar A 1081 WOODWARD WAY FORT COLLINS CO 80524 0 1 0 0 Pres. Air. Turb. Systems Woodward, Inc. Common Stock 2019-05-02 4 M 0 25000 33.12 A 26404.3 D Woodward, Inc. Common Stock 2019-05-02 4 M 0 23500 33.64 A 49904.3 D Woodward, Inc. Common Stock 2019-05-02 4 M 0 24500 25.57 A 74404.3 D Woodward, Inc. Common Stock 2019-05-02 4 S 0 37305 106.8812 D 37099.3 D Woodward, Inc. Common Stock 2019-05-02 4 S 0 35695 107.5823 D 1404.3 D Woodward, Inc. Common Stock 1314 I Woodward Retirement Savings Plan Nonqualifed Stock Option (Right to Buy) 33.12 2019-05-02 4 M 0 25000 0.00 D 2012-06-27 2021-06-27 Woodward, Inc. Common Stock 25000 0 D Nonqualifed Stock Option (Right to Buy) 33.64 2019-05-02 4 M 0 23500 0.00 D 2013-10-01 2022-10-01 Woodward, Inc. Common Stock 23500 0 D Nonqualifed Stock Option (Right to Buy) 25.57 2019-05-02 4 M 0 24500 0.00 D 2012-10-03 2021-10-03 Woodward, Inc. Common Stock 24500 0 D Total reflects 54.3 shares acquired upon reinvestment of dividends since the date of the reporting person's last Form 4 with Table I reporting. The reporting person sold shares in multiple same day, same way open market sales, with prices ranging from $106.26 to $107.24 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. The reporting person sold shares in multiple same day, same way open market sales, with prices ranging from $107.28 to $107.94 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. 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 May 2, 2019. Options, which expire June 27, 2021, became exercisable as to 25% of the shares on June 27, 2012, and each one-year anniversary thereafter. Options, which expire October 01, 2022, became exercisable as to 25% of the shares on October 1, 2013, and each one-year anniversary thereafter. Options, which expire October 3, 2021, became exercisable as to 25% of the shares on October 3, 2012, and each one-year anniversary thereafter. Rebecca L. Dees, by Power of Attorney 2019-05-03