Randall J. Scheuneman - Feb 12, 2024 Form 4 Insider Report for ILLINOIS TOOL WORKS INC (ITW)

Role
VP & Chief Accounting Officer
Signature
/s/ Irene Song, Attorney-in-Fact for Randall J. Scheuneman
Stock symbol
ITW
Transactions as of
Feb 12, 2024
Transactions value $
-$1,140,588
Form type
4
Date filed
2/14/2024, 04:44 PM
Previous filing
Feb 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ITW Common Stock Options Exercise $535K +5.83K +65.69% $91.88 14.7K Feb 12, 2024 Direct
transaction ITW Common Stock Sale -$1.49M -5.83K -39.65% $256.29 8.87K Feb 12, 2024 Direct F1
transaction ITW Common Stock Options Exercise +1.61K +18.12% 10.5K Feb 12, 2024 Direct F2, F3
transaction ITW Common Stock Tax liability -$183K -712 -6.8% $256.42 9.77K Feb 12, 2024 Direct

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 -5.83K -100% $0.00* 0 Feb 12, 2024 Common Stock 5.83K $91.88 Direct F4
transaction ITW Performance Share Units (granted 2/12/21) Options Exercise $0 -1.61K -100% $0.00* 0 Feb 12, 2024 Common Stock 1.61K Direct F3, F5
* 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 $256.25 to $256.36. 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 Common stock acquired upon vesting of Performance Share Units (PSUs) and accrued dividends thereon, following certification of performance metrics.
F3 Each PSU represents a contingent right to receive one share of the Company's common stock.
F4 Options vested in four (4) equal annual installments beginning one year from date of grant.
F5 PSUs vested and became payable on February 12, 2024.