ILLINOIS TOOL WORKS INC - Director's Dealing 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ILLINOIS TOOL WORKS INC (ITW)
CIK: 0000049826
Period of Report: 2016-02-12

Reporting Person: Larsen Michael M (SVP & CFO)

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-02-12	Employee Stock Option	$91.88	A	44955	Acquired	2026-02-12	Common Stock (44955.0)	Direct
2016-02-12	Performance Restricted Stock Unit (granted 2/12/2016)	$0.0	A	9795	Acquired		Common Stock (9795.0)	Direct

Security	Shares	Ownership
Common Stock	14000	Direct

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$98.26	2025-02-13	Common Stock (43731.0)	43731	Direct
Performance Restricted Stock Unit (granted 2/13/15)	$0.0		Common Stock (9159.0)	9159	Direct
Restricted Stock Unit (granted 9/16/2013)	$0.0		Common Stock (13316.0)	13316	Direct
Employee Stock Option	$78.59	2024-02-14	Common Stock (55005.0)	55005	Direct
Performance Restricted Stock Unit (granted 2/14/2014)	$0.0		Common Stock (10603.0)	10603	Direct
Employee Stock Option	$75.1	2023-09-16	Common Stock (69930.0)	69930	Direct

F1: Held jointly with spouse.

F2: Options vest in four (4) equal annual installments beginning one year from date of grant.

F3: Each performance restricted stock unit (PRSU) represents a contingent right to receive one share of the Company's common stock.

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

F5: Each restricted stock unit (RSU) represents a contingent right to receive one share of the Company's common stock.

F6: Each RSU vests 100% three years from the date of grant.