WWD Form 4: 1,750 Shares Acquired at $62.57; 1,750 Sold at $244.32

Rhea-AI Filing Summary

John D. Cohn, a director of Woodward, Inc. (WWD), reported transactions on 09/08/2025 involving company common stock and related options. The filing shows an acquisition of 1,750 common shares at a price of $62.57 and a contemporaneous sale of 1,750 common shares at $244.3151, leaving the reporting person with 20,963 shares after the sale. The filing also reports a change in derivative holdings: a non-qualified stock option with a $62.57 exercise price resulted in 1,750 underlying shares exercised and the filer holds 5,250 option shares following the reported transaction.

The form includes two clarifying notes: the total share counts reflect a correction for a clerical error and the reported options are fully vested and exercisable. The document is signed by a Power of Attorney on behalf of the reporting person and pertains solely to changes in beneficial ownership; it contains no earnings or operational disclosures.

Positive

• Transaction transparency: The filing discloses both acquisition and sale amounts with prices, providing clear visibility into insider activity.
• Options fully vested: The filing explicitly states the options are fully vested and exercisable, clarifying rights associated with derivatives.
• Clerical correction disclosed: The report notes a correction to prior share counts, improving accuracy of beneficial ownership data.

Negative

• Insider sold shares: Reporting person disposed of 1,750 common shares, reducing beneficial ownership from 22,713 to 20,963 shares.
• Net decrease in common stock holdings: The net beneficial common stock position declined following the reported transactions.

Insights

Securities Analyst

TL;DR: Insider exercised options and sold an equal number of shares same day, reducing net common stock holdings by 1,750 shares.

The Form 4 shows a same-day exercise-related acquisition of 1,750 shares at $62.57 and a sale of 1,750 shares at $244.3151, consistent with an option exercise followed by disposition of the acquired shares. Beneficial ownership decreased from 22,713 to 20,963 shares after the transactions. The filing discloses that options are fully vested, and a clerical correction was applied to share counts. For investors, this is a routine insider liquidity event and does not, by itself, reveal new operational or financial information about Woodward, Inc.

Corporate Governance Expert

TL;DR: The disclosure is compliant and transparent, showing exercised options and a contemporaneous sale, with corrected share counts.

The report appropriately identifies the reporting person as a director and provides transaction codes and post-transaction ownership levels. The explanatory notes clarify a clerical correction and confirm option vesting status, which improves the filing's reliability. The use of a Power of Attorney for filing is noted. This Form 4 reflects standard insider reporting practices rather than a governance change or event with standalone material impact.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

COHN JOHN D

(Last) (First) (Middle)

1081 WOODWARD WAY

(Street)

FORT COLLINS CO 80524

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Woodward, Inc. [ WWD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Woodward, Inc. Common Stock	09/08/2025		M		1,750	A	$62.57	22,713(1)	D
Woodward, Inc. Common Stock	09/08/2025		S		1,750	D	$244.3151	20,963	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-QualifiedStock Option (Right to Buy)	$62.57	09/08/2025		M			1,750	10/03/2017(2)	10/03/2026(2)	Woodward, Inc. Common Stock	1,750	$0.0	5,250	D

Explanation of Responses:

1. Total reflects the correction of a clerical error as to the number of shares held.

2. Options are fully vested and exercisable.

	Rebecca L. Dees, by Power of Attorney	09/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What transactions did John D. Cohn report for WWD on 09/08/2025?

The Form 4 reports an acquisition of 1,750 common shares at $62.57 and a sale of 1,750 common shares at $244.3151 on 09/08/2025.

How many Woodward (WWD) shares did the reporting person own after the transactions?

Following the reported transactions the filing shows 20,963 shares beneficially owned by the reporting person.

Were any options involved in the reported transactions?

Yes. The filing shows a non-qualified stock option with a $62.57 exercise price; 1,750 underlying shares were involved and the reporting person holds 5,250 option shares following the transactions. The options are noted as fully vested and exercisable.

Did the filing indicate any corrections or explanations?

Yes. The report states the total reflects a correction of a clerical error as to the number of shares held and that the options are fully vested.

Who signed the Form 4 for the reporting person?

The Form 4 was signed by Rebecca L. Dees, by Power of Attorney on 09/10/2025 on behalf of the reporting person.