RANDALL J. SCHEUNEMAN - 07 May 2021 Form 4 Insider Report for ILLINOIS TOOL WORKS INC (ITW)

Role: VP & Chief Accounting Officer
Signature: /s/ Norman D. Finch Jr., Attorney-in-Fact for Randall J. Scheuneman
Issuer symbol: ITW
Transactions as of: 07 May 2021
Net transactions value: -$1,618,522
Form type: 4
Filing time: 11 May 2021, 16:56:38 UTC
Next filing: 15 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ITW	Common Stock	Options Exercise	$535,984	+6,820	+87%	$78.59	14,622	07 May 2021	Direct
transaction	ITW	Common Stock	Sale	$1,618,522	-6,820	-47%	$237.32	7,802	07 May 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ITW	Employee Stock Option	Options Exercise	$535,984	-6,820	-100%	$78.59	0	07 May 2021	Common Stock	6,820	$78.59	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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.