secwatch.observer — SEC 8-K summary
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Issuer:     Woodward, Inc. (WWD)
CIK:        0000108312
Form:       8-K/A
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0001171843-24-001685
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/108312/000117184324001685/0001171843-24-001685-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/108312/000117184324001685/f8ka_032824.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-001685

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer