Woodward discloses $927,500 severance for departing GC A. Christopher Fawzy

Woodward, Inc.

Lump sum cash severance of $927,500, plus prorated STI payout (45.48% of fiscal 2024 target) and Cash LTI prorations (81.75% for 2024 cycle, 48.45% for 2025 cycle).
One-time $57,000 payment in lieu of healthcare benefits for twelve months.
PSU award payout prorated at 29.86% based on actual performance through 2026.
Outstanding stock options and RSUs continue vesting per original schedule; vested options remain exercisable for full ten-year term.
Conditions include twelve-month non-competition, non-solicitation, release of claims, and non-disparagement.

item 5.02

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Departed

A. Christopher Fawzy

General Counsel

WWD · Woodward, Inc.

Filed: March 28, 2024, 7:59 PM ET

Mr. Fawzy’s departure was a Qualifying Termination under his Amended and Restated Executive Severance and Change in Control Agreement

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.9

A. Christopher Fawzy resigned as General Counsel at Woodward, Inc..

Action: resigned
Role: General Counsel

Exact text from the filing

Mr. Fawzy’s departure was a Qualifying Termination under his Amended and Restated Executive Severance and Change in Control Agreement

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Woodward, Inc. filing history →

Source: SEC EDGAR

accession 0001171843-24-001685

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