Paterson Eileen P. 4

What Happened
Eileen Paterson, a director of Woodward, exercised 5,200 stock options on Feb 5, 2026, at an exercise price of $79.81 per share (total cost $415,012). She concurrently sold the 5,200 shares in open-market transactions at a weighted-average price of $378.15 per share, generating proceeds of $1,966,380. The filing shows a derivative disposition entry for 5,200 shares at $0, reflecting the option conversion.

Key Details

• Transaction date: 2026-02-05; Form 4 filed: 2026-02-09 (filed within the required reporting window).
• Exercise: 5,200 shares @ $79.81 = $415,012 (code M — option exercise).
• Sale: 5,200 shares @ weighted avg $378.15 = $1,966,380 (code S — open-market sale). Reported sale prices ranged from $377.93 to $378.31 per share (F1); amounts aggregated using a weighted average.
• Derivative entry: 5,200 shares disposed @ $0 reflects the option conversion.
• Options were fully vested and exercisable (F2).
• Shares owned after the transaction: not specified in the filing.
• Footnote F1: reporting person can provide the breakdown of shares sold at each separate price upon SEC/Company/securityholder request.

Context
This was effectively a same‑day exercise and sale (a cashless exercise): the options were exercised and the resulting shares were sold the same day. Such transactions commonly reflect option holders monetizing vested awards and do not by themselves indicate the insider’s longer‑term view. Paterson is a company director (not reported here as a 10% owner).