Form 4: Woodward Inc. EVP and CFO William F. Lacey Reports Acquisition of Restricted Stock Units

William F. Lacey, EVP and CFO of Woodward Inc., reports the acquisition of 3,301 Restricted Stock Units (RSUs) on February 10, 2025.

Summary

• William F. Lacey, the EVP and CFO of Woodward, Inc., filed a Form 4 on February 12, 2025, reporting a transaction involving Woodward, Inc. Common Stock.
• On February 10, 2025, Lacey was granted 3,301 Restricted Stock Units (RSUs) at a price of $0.00.
• These RSUs vest at a rate of 34% on February 10, 2026, and 33% on each subsequent one-year anniversary.
• Upon vesting, Lacey will receive one share of Woodward, Inc. Common Stock per RSU, plus additional shares from dividend reinvestment.
• Following the reported transaction, Lacey beneficially owns 15,077 shares of Woodward, Inc. Common Stock directly, which includes 80 additional shares and units issued in connection with dividend reinvestment.
• Lacey also indirectly owns 120 shares through the Woodward Retirement Savings Plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The grant of RSUs is a standard practice and aligns executive interests with shareholders. There are no immediate negative implications.

Positives

• The grant of RSUs to the EVP and CFO aligns his interests with those of the shareholders.
• Dividend reinvestment provisions in the RSU awards further incentivize long-term ownership.

Future Outlook

The vesting schedule of the RSUs indicates a multi-year incentive plan for the reporting person.

Industry Context

Grants of restricted stock units are a common form of executive compensation in publicly traded companies, aligning management's interests with shareholder value.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, bonus, stock options, and restricted stock units.
• The vesting schedule of the RSUs is fairly standard, with vesting occurring over a period of several years to incentivize long-term performance.
• Companies like General Electric, Honeywell, and RTX (formerly Raytheon Technologies) also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• The RSU grant aligns the executive's interests with those of the shareholders, potentially leading to better company performance.
• Employees may view the RSU grant as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

Woodward, Inc., William F. Lacey, RSUs, Restricted Stock Units, Form 4, Beneficial Ownership, Dividend Reinvestment, EVP, CFO, Retirement Savings Plan