ILLINOIS TOOL WORKS INC — Director's Dealing 2015

May 12, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ILLINOIS TOOL WORKS INC (ITW)
CIK: 0000049826
Period of Report: 2015-05-08

Reporting Person: SMITH DAVID BYRON JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-08	Commom Stock	A	1303	$95.92	Acquired	13168	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6404842	Indirect
Common Stock	15517	Indirect
Common Stock	102901	Direct
Common Stock	2650002	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units	$		Common Stock (1145.0)	1145	Direct

Footnotes

F1: Shares of common stock acquired pursuant to the 2011 Long Term Incentive Plan representing a stock grant.

F2: Shares held in various trusts of which reporting person has a partial direct beneficial interest.

F3: Shares held in various trusts of which the reporting person has a pecuniary interest and his father is a co-trustee. The reporting person disclaims beneficial ownership of these shares.

F4: Shares owned directly by reporting person with his spouse.

F5: Shares are held by 2009 Smith Family LP of which the reporting person has a partial direct beneficial interest.

F6: Represents units of phantom stock under the Phantom Stock Plan for non-employee directors as of May 8, 2015. Each unit is equal in value to one share of common stock. The units are not transferable and have no voting rights. Additional units are credited in amounts equivalent to cash dividends paid on the common stock.