ILLINOIS TOOL WORKS INC - Director's Dealing 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ILLINOIS TOOL WORKS INC (ITW)
CIK: 0000049826
Period of Report: 2014-02-14

Reporting Person: HINDMAN CRAIG A (Executive Vice President)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-02-14	Common Stock	M	7257	—	Acquired	34121	Direct
2014-02-14	Common Stock	F	2357	$78.77	Disposed	31764	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-02-14	Performance Restricted Stock Unit (granted 2/11/2011)	$0.0	M	7257	Disposed		Common Stock (7257.0)	Direct

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$55.81	2021-02-11	Common Stock (54700.0)	54700	Direct
Employee Stock Option	$55.71	2022-02-10	Common Stock (58798.0)	58798	Direct
Employee Stock Option	$63.25	2023-02-15	Common Stock (45778.0)	45778	Direct
Employee Stock Option	$43.64	2020-02-12	Common Stock (18520.0)	18520	Direct
Performance Restricted Stock Unit (granted 02/15/2013)	$0.0		Common Stock (7115.0)	7115	Direct
Performance Restricted Stock Unit (granted 2/10/2012)	$0.0		Common Stock (7270.0)	7270	Direct

F1: Each performance restricted stock unit (PRSU) represents a contingent right to receive one share of the Company's common stock.

F2: The PRSU award became vested and payable on February 14, 2014.

F3: Options vest in four (4) equal annual installments beginning one year from date of grant.

F4: Each PRSU vests 100% three years from the date of grant if performance goals are met.