Korte Daniel G. 4

What Happened

• Daniel G. Korte, a director of Woodward, exercised a total of 14,700 stock options on June 4, 2026 and immediately sold the resulting 14,700 shares that same day.
• Exercises: 3,500 shares @ $70.39 ($246,365); 6,000 shares @ $78.97 ($473,820); 5,200 shares @ $79.81 ($415,012). Total exercise cost ≈ $1,135,197.
• Open‑market sales: 3,086 shares @ avg $354.77 ($1,094,820); 3,662 @ avg $355.56 ($1,302,061); 5,419 @ avg $356.61 ($1,932,470); 2,533 @ avg $357.11 ($904,560). Total sales proceeds ≈ $5,233,911. Net proceeds (sales minus exercise cost) ≈ $4,098,714.
• This pattern — exercising vested options and selling the shares — is a sale (routine monetization), not a new purchase.

Key Details

• Transaction date: June 4, 2026; Form 4 filed June 8, 2026 (filed four days after the trades; Form 4 is normally due within two business days).
• Exercise prices and amounts: 3,500 @ $70.39; 6,000 @ $78.97; 5,200 @ $79.81. Options are fully vested and exercisable (footnote F5).
• Sales broken into four aggregated blocks (footnotes F1–F4); each footnote notes the broker executed multiple same‑day sales at slightly different per‑share prices and the reported figure is a weighted average. Footnotes state the filer will provide per‑price details to the SEC or shareholders on request.
• Shares owned after the transactions are not specified in the provided filing.

Context

• This was an exercise of vested options followed by immediate open‑market sales of the shares (often called a cashless exercise or sell‑to‑cover strategy when proceeds are used to cover exercise cost, taxes, or to monetize gains).
• Such transactions are typically routine liquidity events for insiders and do not by themselves indicate the insider’s view on long‑term company prospects.