Snap-on Inc — Director's Dealing 2003

Jul 2, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SNAP ON INC (SNA)
CIK: 0000091440
Period of Report: 2003-06-30

Reporting Person: KELLY ARTHUR L (Director)

Footnotes

F1: 1 for 1.

F2: Payment of fees in stock under the Corporation's Directors' 1993 Fee Plan.

F3: Scheduled for issuance in equal annual installments after the earliest of November 15, 2012, or on death or retirement from the Board.

F4: Includes 101.679 deferred stock units acquired in June 2003 through exempt dividend reinvestments.

F5: The reporting person also directly owns the following stock options to purchase shares of Snap-on Incorporated common stock: (i) 1,500 shares at $24.84 per share (exercisable 4/22/94 and expiring 4/22/04); (ii) 1,500 shares at $24.84 per share (exercisable 4/28/95 and expiring 4/28/05); (iii) 3,000 shares at $31.92 per share (exercisable 4/26/96 and expiring 4/26/06); (iv) 3,000 shares at $37.25 per share (exercisable 4/25/97 and expiring 4/25/07); (v) 3,000 shares at $43.6875 per share (exercisable 4/24/98 and expiring 4/24/08); (vi) 3,000 shares at $31.938 per share (exercisable 4/23/99 and expiring 4/23/09); (vii) 3,000 shares at $26.4375 per share (exercisable 4/28/00 and expiring 4/28/10); (viii) 3,000 shares at $29.36 per share (exercisable 4/27/01 and expiring 4/27/11); (ix) 3,000 shares at $32.08 per share (exercisable 4/25/02 and expiring 4/25/12); and (x) 3,000 shares at $28.43 per share (exercisable 4/24/03 and expiring 4/24/13).

F6: The reporting person also directly owns 10,367.199 shares of Snap-on Incorporated common stock. This total includes 83.017 shares acquired in June 2003 under the Corporation's Dividend Reinvestment and Direct Stock Purchase Plan.

F7: The reporting person also indirectly owns 20,000 shares of Snap-on Incorporated common stock. These shares are held by the Kelly Family Trust and the A.L. Kelly Trust for which the reporting person is a trustee and beneficiary.