Blankenship Charles P 4

What Happened
Charles P. Blankenship, Chairman and CEO of Woodward, exercised stock options on March 9–10, 2026 (M) to acquire 7,625 shares at an exercise price of $83.24 per share (total cash paid ≈ $634,705). On the same dates he sold those 7,625 shares in multiple open-market transactions (S) at prices in the mid-$360s to mid-$380s, generating total gross proceeds of about $2,847,094. The exercises and sales resulted in no net increase in his beneficial ownership (shares acquired = shares sold).

Key Details

• Transaction dates: March 9, 2026 (5,000 shares exercised and sold) and March 10, 2026 (2,625 shares exercised and sold).
• Exercise price: $83.24 per share; cash paid ≈ $634,705.
• Sales proceeds: ≈ $1,836,985 on 3/9 and ≈ $1,010,109 on 3/10; total ≈ $2,847,094.
• Net effect: 7,625 shares acquired via option exercise and 7,625 shares sold — no net change in holdings.
• Footnotes: Sales were executed under a Rule 10b5-1 trading plan adopted Dec 2, 2025 (F1). Several same-day, same-way sales were reported on an aggregate (weighted-average) basis; the filer will provide per-price breakdowns on request (F2–F12). Option terms note vesting schedule and Oct 3, 2032 expiration (F14). Holdings in the company plan are based on a March 3, 2026 calculation (F13).
• Filing: Form 4 filed March 11, 2026 — appears timely (within the Form 4 reporting window).

Context
This was an exercise of vested options followed by immediate open-market sales (common for covering exercise cost, taxes, or following a prearranged plan). The large gap between the $83.24 strike and sale prices in the $360–$387 range reflects substantial pre-tax gains on the exercised options. Because the sales were made under a pre-established 10b5-1 plan, they were prearranged and not necessarily a real-time signal of the insider’s view of the company. Transaction codes: M = option exercise, S = sale.