John R. Hartnett - 15 Feb 2022 Form 4 Insider Report for ILLINOIS TOOL WORKS INC (ITW)

Role: Executive Vice President
Signature: /s/ Irene Song, Attorney-in-Fact for John R. Hartnett
Issuer symbol: ITW
Transactions as of: 15 Feb 2022
Net transactions value: -$174,034
Form type: 4
Filing time: 17 Feb 2022, 16:44:34 UTC
Previous filing: 15 Feb 2022
Next filing: 18 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		+2,700	+13%		24,092	15 Feb 2022	Direct	F1, F2
transaction	ITW	Common Stock	Tax liability	$174,034	-792	-3.3%	$219.74	23,300	15 Feb 2022	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	Performance Share Units (granted 2/15/19)	Options Exercise	$0	-2,700	-100%	$0.000000^*	0	15 Feb 2022	Common Stock	2,700		Direct	F2, F3

* 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 PSU represents a contingent right to receive one share of the Company's common stock.
F3	PSUs vested and became payable on February 15, 2022.