Ernest Scott Santi - Feb 14, 2023 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
Stock symbol
ITW
Transactions as of
Feb 14, 2023
Transactions value $
-$2,211,246
Form type
4
Date filed
2/16/2023, 03:49 PM
Previous filing
Feb 14, 2023
Next filing
Mar 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ITW Common Stock Options Exercise +21K +9.82% 235K Feb 14, 2023 Direct F1, F2
transaction ITW Common Stock Tax liability -$2.21M -9.29K -3.96% $238.05 225K Feb 14, 2023 Direct
holding ITW Common Stock 4.16K Feb 14, 2023 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 2/14/20) Options Exercise $0 -21K -100% $0.00* 0 Feb 14, 2023 Common Stock 21K 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 14, 2023.
F4 PSUs vested and became payable on February 14, 2023.