Blankenship Charles P., Chairman and CEO, has been an active seller of stock in two companies, with a clear disposition bias over the past year. Across 55 Form 4 filings, he has executed zero open-market purchases and zero acquisitions, while selling approximately $10.49 million in shares. The selling has been concentrated in Woodward, Inc. (WWD), with a smaller position in Fluor Corporation (FLR). The most recent activity, spanning early March 2026, shows a heavy cluster of sales in WWD, with individual transactions ranging from roughly $19,000 to nearly $600,000.
The pattern in March 2026 is particularly striking. Between March 5 and March 10, Blankenship executed at least 21 open-market sales in WWD, totaling over $4.5 million. These sales were frequently paired with option exercises (coded "M") on the same dates, such as the March 6 exercise valued at $416,200 and the March 9 exercise at $416,200, which suggests the sales were tied to the conversion of existing equity awards. The March 10 transactions included a large sale of $598,408.50 alongside several smaller dispositions, all in WWD. No purchases or acquisitions were reported during this period, and the only non-sale transaction in the recent window was a grant (coded "A") of FLR shares on May 6, 2026, valued at $0, which is a compensation event rather than a market decision.
Overall, the data paints a picture of consistent monetization of equity holdings, particularly in WWD, with no corresponding buying activity. The absence of any open-market purchases across all 55 filings, combined with the high frequency and dollar volume of sales, indicates a sustained reduction in his stake. While option exercises and tax-related withholdings are mechanical, the sheer number of "S" codes—all open-market sales—suggests deliberate portfolio rebalancing or diversification. The FLR grant is the only recent non-sale event, but it does not offset the selling pressure in WWD.
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