Bem Karrie M. 4

What Happened
Karrie M. Bem, EVP, General Counsel & Corporate Secretary of Woodward, Inc. (WWD), sold 185 shares on May 18, 2026 at $352.48 per share, generating proceeds of $65,209. The transaction was a sale (not a purchase) and is typically considered routine rather than a direct bullish signal.

Key Details

• Transaction date and price: May 18, 2026 — 185 shares sold at $352.48 each.
• Total proceeds: $65,209.
• Shares owned after transaction: Not specified in the portions of the Form 4 provided.
• Footnotes:
  • F1: The sale was effected pursuant to a Rule 10b5-1 trading plan adopted on February 12, 2026.
  • F2: Holdings reported for the Woodward Retirement Savings Plan are based on a calculation as of May 14, 2026.
• Filing timeliness: Report filed May 19, 2026 (one day after the transaction), which appears timely.

Context
Sales executed under a pre-established 10b5-1 plan are scheduled trades and are often routine; they do not necessarily reflect the insider’s current view of the company. For retail investors, purchases by insiders can be more informative than modest, plan-driven sales like this one.