SEC Form 4 · accession 0000049826-17-000044
ILLINOIS TOOL WORKS INC · ITW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lei Zhang Schlitz
Officer — Executive Vice President
Period of report
Feb 10, 2017
Accepted (ET)
Feb 14, 2017 · 6:01 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000049826
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Feb 13, 2017 | M | 16,207 | $55.81 | A | 16,299 | D | |
| Common StockF1 | Feb 13, 2017 | S | 16,207 | $129.43 | D | 92 | D | |
| Common Stock | Feb 13, 2017 | M | 17,422 | $55.71 | A | 17,514 | D | |
| Common StockF2 | Feb 13, 2017 | S | 17,422 | $129.55 | D | 92 | D | |
| Common StockF3 | holding | — | — | — | 4,024 | I | SEE FOOTNOTE |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option | $55.81 | Feb 13, 2017 | M | 16,207 | D | Feb 11, 2012 | Feb 11, 2021 | Common Stock | 16,207 | 0 | D |
| Employee Stock Option | $55.71 | Feb 13, 2017 | M | 17,422 | D | Feb 10, 2013 | Feb 10, 2022 | Common Stock | 17,422 | 0 | D |
| Employee Stock OptionF4 | $128.00 | Feb 10, 2017 | A | 18,635 | A | Feb 10, 2018 | Feb 10, 2027 | Common Stock | 18,635 | 18,635 | D |
| Performance Share Units (granted 2/10/17)F7,F8 | $0.00 | Feb 10, 2017 | A | 1,953 | A | — | — | Common Stock | 1,953 | — | D |
| Employee Stock OptionF4 | $78.59 | holding | — | — | — | Feb 14, 2015 | Feb 14, 2024 | Common Stock | 8,800 | 8,800 | D |
| Employee Stock OptionF4 | $91.88 | holding | — | — | — | Feb 12, 2017 | Feb 12, 2026 | Common Stock | 13,736 | 13,736 | D |
| Employee Stock OptionF4 | $63.25 | holding | — | — | — | Feb 15, 2014 | Feb 15, 2023 | Common Stock | 13,564 | 13,564 | D |
| Employee Stock OptionF4 | $98.26 | holding | — | — | — | Feb 13, 2016 | Feb 13, 2025 | Common Stock | 6,478 | 6,478 | D |
| Restricted Stock Unit (granted 02/13/15)F5,F6 | $0.00 | holding | — | — | — | — | — | Common Stock | 1,356 | 1,356 | D |
| Restricted Stock Unit (granted 02/14/2014)F5,F6 | $0.00 | holding | — | — | — | — | — | Common Stock | 1,696 | 1,696 | D |
| Performance Restricted Stock Unit (granted 2/12/2016)F7,F8 | $0.00 | holding | — | — | — | — | — | Common Stock | 2,993 | 2,993 | D |
Explanation of responses
- F1This transaction was executed in multiple trades at prices ranging from $129.32 to $129.51. 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.
- F2This transaction was executed in multiple trades at prices ranging from $129.31 to $129.59. 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.
- F3Shares of common stock allocated to my account in the Illinois Tool Works Inc. Savings & Investment Plan--Information reported as of February 10, 2017.
- F4Options vest in four (4) equal annual installments beginning one year from date of grant.
- F5Each restricted stock unit (RSU) represents a contingent right to receive one share of the Company's common stock.
- F6Each RSU vests 100% three years from the date of grant.
- F7Each performance restricted stock unit (PRSU) and performance share unit (PSU) represents a contingent right to receive one share of the Company's common stock.
- F8Each PRSU and PSU vests 100% three years from date of grant if performance goals are met.