ILLINOIS TOOL WORKS INC — Director's Dealing 2019

Feb 20, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ILLINOIS TOOL WORKS INC (ITW)
CIK: 0000049826
Period of Report: 2019-02-15

Reporting Person: Mines Andrew (Executive Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-02-15	Employee Stock Option	$144.21	A	13824	Acquired	2029-02-15	Common Stock (13824.0)	Direct
2019-02-15	Performance Share Units (granted 2/15/19)	$0.0	A	1646	Acquired		Common Stock (1646.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1115	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$98.26	2025-02-13	Common Stock (2430.0)	2430	Direct
Employee Stock Option	$128.0	2027-02-10	Common Stock (5777.0)	5777	Direct
Employee Stock Option	$78.59	2024-02-14	Common Stock (1375.0)	1375	Direct
Employee Stock Option	$91.88	2026-02-12	Common Stock (3747.0)	3747	Direct
Employee Stock Option	$163.36	2028-02-15	Common Stock (10758.0)	10758	Direct
Performance Share Units (granted 2/10/17)	$0.0		Common Stock (632.0)	632	Direct
Performance Share Units (granted 2/15/18)	$0.0		Common Stock (1294.0)	1294	Direct

Footnotes

F1: Options vest in four (4) equal annual installments beginning one year from date of grant.

F2: Each performance share unit (PSU) represents a contingent right to receive one share of the Company's common stock.

F3: PSUs accrue dividends in shares of common stock, subject to fulfillment of vesting period and performance goals; the PSUs shown include dividend equivalents, if any, accrued to date.

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