SEC Form 4 · accession 0000049826-19-000037
ILLINOIS TOOL WORKS INC · ITW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael M Larsen
Officer — SVP & CFO
Period of report
Feb 15, 2019
Accepted (ET)
Feb 20, 2019 · 4:54 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 StockF1 | Feb 15, 2019 | M | 9,795 | $0.00 | A | 28,243 | D | |
| Common StockF1 | Feb 15, 2019 | F | 3,269 | $138.64 | D | 24,974 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Restricted Stock Unit (granted 2/12/2016)F3,F4 | $0.00 | Feb 15, 2019 | M | 9,795 | D | — | — | Common Stock | 9,795 | 0 | D |
| Employee Stock OptionF2 | $144.21 | Feb 15, 2019 | A | 41,472 | A | Feb 15, 2020 | Feb 15, 2029 | Common Stock | 41,472 | 41,472 | D |
| Performance Share Units (granted 2/15/19)F3,F5,F6 | $0.00 | Feb 15, 2019 | A | 4,940 | A | — | — | Common Stock | 4,940 | 4,940 | D |
| Employee Stock Option | $98.26 | holding | — | — | — | Feb 13, 2016 | Feb 13, 2025 | Common Stock | 43,731 | 43,731 | D |
| Employee Stock OptionF2 | $91.88 | holding | — | — | — | Feb 12, 2017 | Feb 12, 2026 | Common Stock | 44,955 | 44,955 | D |
| Employee Stock Option | $78.59 | holding | — | — | — | Feb 14, 2015 | Feb 14, 2024 | Common Stock | 13,752 | 13,752 | D |
| Performance Share Units (granted 2/10/17)F3,F5,F6 | $0.00 | holding | — | — | — | — | — | Common Stock | 5,615 | 5,615 | D |
| Performance Share Units (granted 2/15/18)F3,F5,F6 | $0.00 | holding | — | — | — | — | — | Common Stock | 4,472 | 4,472 | D |
| Employee Stock OptionF2 | $128.00 | holding | — | — | — | Feb 10, 2018 | Feb 10, 2027 | Common Stock | 51,248 | 51,248 | D |
| Employee Stock OptionF2 | $163.36 | holding | — | — | — | Feb 15, 2019 | Feb 15, 2028 | Common Stock | 37,167 | 37,167 | D |
Explanation of responses
- F1Held jointly with spouse.
- F2Options vest in four (4) equal annual installments beginning one year from date of grant.
- F3Each performance restricted stock unit (PRSU) and performance share unit (PSU) represents a contingent right to receive one share of the Company's common stock.
- F4The PRSU award became vested and payable on February 15, 2019.
- F5PSUs accrue dividends in shares of common stock, subject to fulfillment of vesting period and performance goals; the PSUs shown include dividend equivalents, if any, accrued to date.
- F6Each PSU vests 100% three years from the date of grant if performance goals are met.