ILLINOIS TOOL WORKS INC — Director's Dealing 2021

May 11, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ILLINOIS TOOL WORKS INC (ITW)
CIK: 0000049826
Period of Report: 2021-05-07

Reporting Person: SCHEUNEMAN RANDALL J (VP & Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-07	Common Stock	M	6820	$78.59	Acquired	14622	Direct
2021-05-07	Common Stock	S	6820	$237.32	Disposed	7802	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-07	Employee Stock Option	$78.59	M	6820	Disposed	2024-02-14	Common Stock (6820.0)	Direct

Footnotes

F1: This transaction was executed at multiple prices ranging from $237.29 to $237.43. 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: Options vested in four (4) equal annual installments beginning one year from date of grant.