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: Schlitz Lei Zhang (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-02-15	Common Stock	M	2993	—	Acquired	4940	Direct
2019-02-15	Common Stock	F	905	$138.64	Disposed	4035	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-02-15	Performance Restricted Stock Unit (granted 2/12/2016)	$0.0	M	2993	Disposed		Common Stock (2993.0)	Direct
2019-02-15	Employee Stock Option	$144.21	A	16006	Acquired	2029-02-15	Common Stock (16006.0)	Direct
2019-02-15	Performance Share Units (granted 2/15/19)	$0.0	A	1906	Acquired		Common Stock (1906.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4200	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$78.59	2024-02-14	Common Stock (8800.0)	8800	Direct
Employee Stock Option	$91.88	2026-02-12	Common Stock (13736.0)	13736	Direct
Employee Stock Option	$63.25	2023-02-15	Common Stock (13564.0)	13564	Direct
Employee Stock Option	$98.26	2025-02-13	Common Stock (6478.0)	6478	Direct
Employee Stock Option	$128.0	2027-02-10	Common Stock (18635.0)	18635	Direct
Employee Stock Option	$163.36	2028-02-15	Common Stock (13693.0)	13693	Direct
Performance Share Units (granted 2/10/17)	$0.0		Common Stock (2041.0)	2041	Direct
Performance Share Units (granted 2/15/18)	$0.0		Common Stock (1647.0)	1647	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 15, 2019.

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: The PRSU award became vested and payable on February 15, 2019.

F5: 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.

F6: Each PSU vests 100% three years from date of grant if performance goals are met.