Lei Zhang Schlitz - 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 Lei Zhang Schlitz
Issuer symbol: ITW
Transactions as of: 15 Feb 2022
Net transactions value: -$141,732
Form type: 4
Filing time: 17 Feb 2022, 16:53:48 UTC
Previous filing: 15 Feb 2022
Next filing: 02 Mar 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		+2,199	+30%		9,448	15 Feb 2022	Direct	F1, F2
transaction	ITW	Common Stock	Tax liability	$141,732	-645	-6.8%	$219.74	8,803	15 Feb 2022	Direct
holding	ITW	Common Stock						4,490	15 Feb 2022	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 2/15/19)	Options Exercise	$0	-2,199	-100%	$0.000000^*	0	15 Feb 2022	Common Stock	2,199		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 10, 2022.
F4	PSUs vested and became payable on February 15, 2022.