-------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
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/ / Check this box if no STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB Number: 3235-0287
longer subject to Expires: January 31, 2005
Section 16. Form 4 or Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Estimated average burden
Form 5 obligations may Section 17(a) of the Public Utility Holding Company Act of 1935 or hours per response .... 0.5
continue. SEE Section 30(h) of the Investment Company Act of 1940 -----------------------------
Instruction 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
Director 10% Owner
Carter Stephen P. Woodward Governor Company/WGOV ---- ----
--------------------------------------------------------------------------------------------- X Officer (give Other
(Last) (First) (Middle) 3. I.R.S. Identification 4. Statement for ---- title ---- (specify
Number of Reporting Month/Day/Year below) below)
Person, if an entity
(voluntary) Exec Vice President, Chief Financial
5001 N. Second Street January 27, 2003 Officer and Treasurer
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(Street) 5. If Amendment, 7. Individual or Joint/Group Filing
Date of Original (Check Applicable Line)
(Month/Day/Year) _X_Form filed by One Reporting Person
___Form filed by More than One
Rockford IL 61111 Reporting Person
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(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of 2. Trans- 2A. Deemed 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
Security action Execution action or Disposed of (D) Securities ship of In-
(Instr. 3) Date Date, Code (Instr. 3, 4 and 5) Beneficially Form: direct
if any (Instr. 8) Owned Follow- Direct Bene-
(Month/ (Month/ ing Reported (D) or ficial
Day/ Day/ ------------------------------------------ Transaction(s) Indirect Owner-
Year) Year) (A) or (Instr. 3 (I) ship
Code V Amount (D) Price and 4) (Instr. 4) (Instr. 4)
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Woodward 01/27/03 01/27/03 P(*) 133 A $37.54 2,663 D
Governor
Company Common
Stock
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Woodward 2,807 I Stock Plan
Governor
Company Common
Stock
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(*) Purchase pursuant to an established Rule 10b5-1 Plan--Officer Stock Purchase
TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Conver- 3. Trans- 3A. Deemed 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action Execution tion Code ative Securities Ac- cisable and Ex-
Exercise Date Date, (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ if any posed of (D) (Month/Day/
Deriv- Day/ (Month/ (Instr. 3, 4, and 5) Year)
ative Year) Day/
Security Year)
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Date Expira-
Exer- tion
Code V (A) (D) cisable Date
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Phantom Stock Units 1-for-1 11/23/2001 (1) (1)
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Nonqualifed Stock $47.72 10/07/2002 10/06/ 10/06/
Option (right to buy) 2003 2012
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7. Title and Amount of 8. Price of 9. Number of 10. Ownership 11. Nature of
Underlying Securities Derivative Derivative Form of Indirect
(Instr. 3 and 4) Security Securities Derivative Beneficial
(Instr. 5) Beneficially Securities: Ownership
Owned Direct (D) or (Instr. 4)
Following Indirect (I)
Reported (Instr. 4)
Transaction(s)
----------------------- (Instr. 4)
Title Amount or
Number of
Shares
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Common Stock 21,380 $49.06 125,590 D
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Common Stock 10,000(b)(c) 135,590 D
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Explanation of Responses:
(b) Grant to reporting person of option to buy shares of common stock under the
Woodward Governor Company 1996 Long-Term Incentive Compensation Plan is an
exempt transaction under Rule 16b-3.
(c) Shares become exercisable at the rate of 25% per year beginning one year
from date of grant.
(1) The phantom stock units were accrued under the Woodward Governor Company
Unfunded Deferred Compensation Plan No. 2 and are to be settled in 100% cash
upon separation from the Company.
/s/ Stephen P. Carter January 28, 2003
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**Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.