Scott Santi - Feb 12, 2024 Form 4 Insider Report for ILLINOIS TOOL WORKS INC (ITW)

Role
Chairman, Director
Signature
/s/ Irene Song, Attorney-in-Fact for E. Scott Santi
Stock symbol
ITW
Transactions as of
Feb 12, 2024
Transactions value $
-$11,222,014
Form type
4
Date filed
2/14/2024, 04:43 PM
Previous filing
Feb 9, 2024
Next filing
Mar 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ITW Common Stock Options Exercise $5.85M +45.7K +20.67% $128.00 267K Feb 12, 2024 Direct
transaction ITW Common Stock Sale -$3.06M -12K -4.5% $255.16 255K Feb 12, 2024 Direct F1
transaction ITW Common Stock Sale -$5.7M -22.2K -8.73% $256.26 232K Feb 12, 2024 Direct F2
transaction ITW Common Stock Sale -$2.94M -11.4K -4.92% $256.86 221K Feb 12, 2024 Direct F3
transaction ITW Common Stock Options Exercise +47.3K +21.39% 268K Feb 12, 2024 Direct F4, F5
transaction ITW Common Stock Tax liability -$5.37M -20.9K -7.81% $256.42 247K Feb 12, 2024 Direct
holding ITW Common Stock 4.25K Feb 12, 2024 See Footnote F6

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 $0 -45.7K -100% $0.00* 0 Feb 12, 2024 Common Stock 45.7K $128.00 Direct F7
transaction ITW Performance Share Units (granted 2/12/21) Options Exercise $0 -47.3K -100% $0.00* 0 Feb 12, 2024 Common Stock 47.3K Direct F5, F8
* 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 $254.61 to $255.60. 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 This transaction was executed at multiple prices ranging from $255.61 to $256.60. 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.
F3 This transaction was executed at multiple prices ranging from $256.61 to $257.23. 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.
F4 Common stock acquired upon vesting of Performance Share Units (PSUs) and accrued dividends thereon, following certification of performance metrics.
F5 Each performance share unit (PSU) represents a contingent right to receive one share of the Company's common stock.
F6 Shares of common stock allocated to the reporting person's account in the Illinois Tool Works Inc. Savings & Investment Plan as of February 12, 2024.
F7 Options vested in four (4) equal annual installments beginning one year from date of grant.
F8 PSUs vested and became payable on February 12, 2024.