ILLINOIS TOOL WORKS INC — Director's Dealing 2017

Feb 14, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ILLINOIS TOOL WORKS INC (ITW)
CIK: 0000049826
Period of Report: 2017-02-10

Reporting Person: O'HERLIHY CHRISTOPHER A (Vice Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-10	Employee Stock Option	$128.0	A	48453	Acquired	2027-02-10	Common Stock (48453.0)	Direct
2017-02-10	Performance Share Units (granted 2/10/17)	$0.0	A	5078	Acquired		Common Stock (5078.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15483	Direct
Common Stock	1603	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$98.26	2025-02-13	Common Stock (22675.0)	22675	Direct
Employee Stock Option	$55.71	2022-02-10	Common Stock (43554.0)	43554	Direct
Employee Stock Option	$91.88	2026-02-12	Common Stock (37462.0)	37462	Direct
Employee Stock Option	$63.25	2023-02-15	Common Stock (37301.0)	37301	Direct
Employee Stock Option	$78.59	2024-02-14	Common Stock (29702.0)	29702	Direct
Employee Stock Option	$55.81	2021-02-11	Common Stock (36467.0)	36467	Direct
Performance Restricted Stock Unit (granted 2/12/2016)	$0.0		Common Stock (8162.0)	8162	Direct
Performance Restricted Stock Unit (granted 2/13/15)	$0.0		Common Stock (4749.0)	4749	Direct
Performance Restricted Stock Unit (granted 2/14/2014)	$0.0		Common Stock (5725.0)	5725	Direct

Footnotes

F1: Shares of common stock allocated to my account in the Illinois Tool Works Inc. Savings & Investment Plan--Information reported as of February 10, 2017.

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

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

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