Posted: 12/15/2024 07:42 am
Woodward, Inc. (NASDAQ: WWD), a notable player in the Electrical Industrial Apparatus sector, has recently seen fluctuations in its executive compensation structures alongside variations in its stock price and market performance. The compensation packages observed over recent years highlight an intriguing evolution in how the company rewards its top executives, reflecting both individual contributions and the broader economic landscape's influence on such decisions.
In 2024, Charles P. Blankenship, Jr., Chairman and Chief Executive Officer of Woodward, received a striking total compensation package of $11,177,865. This package was composed predominantly of stock awards, valued at $7,202,743, highlighting a strategic alignment between executive incentives and shareholder interests^1. Blankenship's salary of $1,132,885 supplemented by incentive plan compensation of $2,191,082, without any additional bonus or option awards, underscores a reliance on performance-based rewards. Additionally, all other compensation amounted to $651,155^1.
The previous year, Thomas G. Cromwell, Chief Operating Officer, received a total compensation of $2,764,823. In contrast to Blankenship's package, a significant portion of Cromwell's remuneration was concentrated in option awards totaling $1,033,962, alongside a salary of $649,515^2. Stock awards for Cromwell were relatively modest at $286,206, aligning with his operational role within the company.
Back in 2022, A. Christopher Fawzy, serving as Corporate Vice President and Chief Compliance Officer, was compensated a total of $1,159,547. This included a salary of $520,944, with a substantial option award of $516,600, highlighting a strategic approach to compensation tied closely to regulatory and compliance responsibilities^3.
Reflecting on the compensations in 2021, Robert F. Weber, Jr., Vice Chairman and Chief Financial Officer, received $2,622,594, largely deriving from a significant option award valued at $1,766,566. This may indicate a strategy of awarding senior financial leaders with options, possibly to incentivize long-term fiscal stability and growth^4.
Looking back to 2018, Thomas A. Gendron, who held the roles of Chairman, CEO, and President, was awarded a total of $6,101,564. His package notably contained an option award worth $3,930,177, and an incentive plan compensation of $1,135,324, alongside his base salary of $925,000^5.
This varied approach to executive compensation at Woodward, Inc., illustrates the emphasis on stock and option awards throughout recent years, signaling the company's strategic focus on aligning executive interests with shareholder value creation. Currently, Woodward's stock value is $175.1, experiencing a slight negative change of 0.6412% from the previous trading day. The stock remains robust with a market capitalization of over $10 billion and an EPS of 6.01^6.
In conclusion, Woodward’s adaptive compensation strategies, fortified by a mix of stock and options-based rewards, exemplify the company's agile response to both internal performance metrics and market dynamics.
1. 2024 Executive Compensation Data for Charles P. Blankenship, Jr., https://www.sec.gov/Archives/edgar/data/108312/000095017024134154/0000950170-24-134154-index.htm
2. 2023 Executive Compensation Data for Thomas G. Cromwell, https://www.sec.gov/Archives/edgar/data/108312/000095017023069053/0000950170-23-069053-index.htm
3. 2022 Executive Compensation Data for A. Christopher Fawzy, https://www.sec.gov/Archives/edgar/data/108312/000156459022039203/0001564590-22-039203-index.htm
4. 2021 Executive Compensation Data for Robert F. Weber, Jr., https://www.sec.gov/Archives/edgar/data/108312/000156459021059772/0001564590-21-059772-index.htm
5. 2018 Executive Compensation Data for Thomas A. Gendron, https://www.sec.gov/Archives/edgar/data/108312/000156459020057138/0001564590-20-057138-index.htm
6. Woodward, Inc. Stock Price Data, including current price and market information.
