ILLINOIS TOOL WORKS INC — Director's Dealing 2021

Dec 9, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ILLINOIS TOOL WORKS INC (ITW)
CIK: 0000049826
Period of Report: 2021-12-07

Reporting Person: Schlitz Lei Zhang (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-12-07	Common Stock	M	8800	$78.59	Acquired	16049	Direct
2021-12-07	Common Stock	S	8800	$241.16	Disposed	7249	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-12-07	Employee Stock Option	$78.59	M	8800	Disposed	2024-02-14	Common Stock (8800.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4466	Indirect

Footnotes

F1: This transaction was executed at multiple prices ranging from $241.11 to $241.33. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Illinois Tool Works Inc. or a shareholder of Illinois Tool Works Inc. full information regarding the number of shares and prices at which the transaction was effected.

F2: Shares of common stock allocated to the reporting person's account in the Illinois Tool Works Inc. Savings & Investment Plan as of December 7, 2021.

F3: Options vested in four (4) equal annual installments beginning one year from date of grant.