ILLINOIS TOOL WORKS INC — Director's Dealing 2021

Feb 17, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ILLINOIS TOOL WORKS INC (ITW)
CIK: 0000049826
Period of Report: 2021-02-12

Reporting Person: O'HERLIHY CHRISTOPHER A (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-15	Common Stock	M	4442	—	Acquired	38040	Direct
2021-02-15	Common Stock	F	1310	$200.98	Disposed	36730	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-12	Employee Stock Option	$200.98	A	42787	Acquired	2031-02-12	Common Stock (42787.0)	Direct
2021-02-15	Performance Share Units (granted 2/15/18)	$	M	4442	Disposed		Common Stock (4442.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1755	Indirect

Footnotes

F1: Common stock acquired upon vesting of Performance Share Units (PSUs) and accrued dividends thereon, following certification of performance metrics.

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

F3: Shares of common stock allocated to the reporting person's account in the Illinois Tool Works Inc. Savings & Investment Plan as of February 12, 2021.

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

F5: PSUs vested and became payable on February 15, 2021.