Form 4: Woodward EVP Cromwell Reports RSU Tax Withholding

Woodward, Inc.'s EVP and COO, Thomas G. Cromwell, reported the disposal of 381 common shares to cover tax withholdings related to restricted stock unit vesting.

Summary

• Thomas G. Cromwell, Executive Vice President and Chief Operating Officer of Woodward, Inc. (WWD), reported a transaction on October 3, 2025.
• The transaction involved the disposal of 381 shares of Woodward, Inc. Common Stock at a price of $257.72 per share.
• These shares were withheld by the Issuer to cover withholding taxes in connection with the vesting of restricted stock units (RSUs) and were not sold by the Reporting Person.
• Following this transaction, Cromwell directly beneficially owns 15,123 shares of Woodward, Inc. Common Stock, which includes 27 additional shares/units from dividend reinvestment in RSU awards.
• Cromwell also indirectly beneficially owns 490 shares in the Woodward Retirement Savings Plan, with this information based on a calculation as of October 3, 2025.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction involving the disposal of shares to cover tax obligations upon RSU vesting, which is a neutral event for company operations and outlook.

Positives

• The vesting of restricted stock units indicates continued executive retention and alignment of management interests with shareholder value creation.

Negatives

• The disposal of shares, even for tax purposes, results in a slight reduction in the executive's direct beneficial ownership.

Future Outlook

NA

Industry Context

This routine insider transaction reflects standard executive compensation practices, where restricted stock units vest over time, and a portion of shares is often withheld to cover tax obligations. This is a common occurrence across various industries for publicly traded companies.

Comparison to Industry Standards

• The transaction aligns with typical executive compensation structures involving restricted stock units and subsequent tax withholding, a common practice among U.S. public companies.

Stakeholder Impact

• Shareholders: A minor reduction in direct beneficial ownership by a key executive due to tax withholding, which is a routine part of executive compensation and generally not indicative of a change in company fundamentals.

Key Dates

Recommendation

This Form 4 details a routine, non-discretionary transaction where an executive's shares were withheld to cover tax liabilities upon the vesting of restricted stock units. It does not provide new fundamental information about the company's performance, strategy, or future prospects that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate as it reflects no significant positive or negative catalysts from this specific filing.

Keywords

Woodward, WWD, Form 4, insider transaction, executive compensation, RSU vesting, stock disposal, Thomas G. Cromwell