ILLINOIS TOOL WORKS INC — Director's Dealing 2021

Feb 26, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ILLINOIS TOOL WORKS INC (ITW)
CIK: 0000049826
Period of Report: 2021-02-24

Reporting Person: SANTI ERNEST SCOTT (Director, Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-24	Common Stock	M	124189	$78.59	Acquired	329431	Direct
2021-02-24	Common Stock	S	102114	$202.40	Disposed	227317	Direct
2021-02-24	Common Stock	S	22075	$203.08	Disposed	205242	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-24	Employee Stock Option	$78.59	M	124189	Disposed	2024-02-14	Common Stock (124189.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3981	Indirect

Footnotes

F1: This transaction was executed at multiple prices ranging from $202 to $202.99. 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: This transaction was executed at multiple prices ranging from $203 to $203.32. 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.

F3: Shares of common stock allocated to the reporting person's account in the Illinois Tool Works Inc. Savings & Investment Plan as of February 24, 2021.

F4: Options vested in four (4) equal annual installments beginning one year from date of grant.