Lei Zhang Schlitz - 07 Dec 2021 Form 4 Insider Report for ILLINOIS TOOL WORKS INC (ITW)

Role: Executive Vice President
Signature: /s/ Jennifer K. Schott, Attorney-in-Fact for Lei Zhang Schlitz
Issuer symbol: ITW
Transactions as of: 07 Dec 2021
Net transactions value: -$1,430,616
Form type: 4
Filing time: 09 Dec 2021, 15:45:54 UTC
Previous filing: 04 Oct 2021
Next filing: 09 Dec 2021
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	$691,592	+8,800	+121%	$78.59	16,049	07 Dec 2021	Direct
transaction	ITW	Common Stock	Sale	$2,122,208	-8,800	-55%	$241.16	7,249	07 Dec 2021	Direct	F1
holding	ITW	Common Stock						4,466	07 Dec 2021	SEE FOOTNOTE	F2

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	-8,800	-100%	$0.000000^*	0	07 Dec 2021	Common Stock	8,800	$78.59	Direct	F3

* 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 $241.11 to $241.33. 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	Shares of common stock allocated to the reporting person's account in the Illinois Tool Works Inc. Savings & Investment Plan as of December 7, 2021.
F3	Options vested in four (4) equal annual installments beginning one year from date of grant.

Remarks:

Exhibit 24 Power of Attorney