Ernest Scott Santi - 15 Feb 2022 Form 4 Insider Report for ILLINOIS TOOL WORKS INC (ITW)

Role
Chairman & CEO, Director
Signature
/s/ Irene Song, Attorney-in-Fact for E. Scott Santi
Issuer symbol
ITW
Transactions as of
15 Feb 2022
Net transactions value
-$2,240,030
Form type
4
Filing time
17 Feb 2022, 17:03:18 UTC
Previous filing
15 Feb 2022
Next filing
02 Mar 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 +23,010 +11% 226,042 15 Feb 2022 Direct F1, F2
transaction ITW Common Stock Tax liability $2,240,030 -10,194 -4.5% $219.74 215,848 15 Feb 2022 Direct
holding ITW Common Stock 4,057 15 Feb 2022 See Footnote F3

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 Performance Share Units (granted 2/15/19) Options Exercise $0 -23,010 -100% $0.000000* 0 15 Feb 2022 Common Stock 23,010 Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Common stock acquired upon vesting of Performance Share Units (PSUs) and accrued dividends thereon, following certification of performance metrics.
F2 Each performance share unit (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 10, 2022.
F4 PSUs vested and became payable on February 15, 2022.