X0306 4 2019-11-22 0 0000108312 Woodward, Inc. WWD 0001336978 Weber Robert F Jr 1081 WOODWARD WAY FORT COLLINS CO 80524 0 1 0 0 Vice Chairman Phantom Stock 2019-11-22 4 A 0 463.22 112.00 A Woodward, Inc. Common Stock 463.22 24528.2 D The reporting person participates in the Woodward Executive Benefit Plan (the "Executive Plan") and has elected to have a portion of his Woodward Variable Incentive Plan bonus or Long Term Incentive Plan bonus, where applicable, deferred and denominated in Company stock. Phantom stock units are accrued under the Executive Plan and are to be settled in 100% stock on a one-for-one basis upon separation from the Company. The total shown represents the dollar amount of deferrals divided by the current share price and, therefore, the number of shares reported may fluctuate from period to period. The total shown also includes shares acquired under the Company's Dividend Reinvestment Plan. Rebecca L. Dees, by Power of Attorney 2019-11-26