ITW director sells 41,431 shares after option exercise
ILLINOIS TOOL WORKS INC (ITW) director Ernest Scott Santi reported an option exercise-and-sale transaction.
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Form Type
4
Rhea-AI Filing Summary
ILLINOIS TOOL WORKS INC (ITW) director Ernest Scott Santi reported an option exercise-and-sale transaction. He exercised 41,431 Employee Stock Options for Common Stock at an exercise price of $187.86 per share and, after this, 124,295 options remain outstanding under that grant.
On the same date, he acquired 41,431 Common Shares from the exercise and sold the same number in multiple open-market transactions at weighted average prices of $286.37, $287.35, $288.22 and $289.19 per share, within the detailed price ranges disclosed. A footnote states his holdings include 6,937 shares of deferred stock under the ITW Directors' Deferred Fee Plan as of August 19, 2026.
Insider Trade Summary
Exercise and Sale: 41,431 shares ($4.11M approx. pre-tax spread)
Exercise and Sale
6 txns
Insider
SANTI ERNEST SCOTT
Role
Director
Sold
41,431 shs ($11.89M)
Approx. gross sale proceeds
$11.89M
Approx. exercise cost
$7.78M
Approx. pre-tax spread
$4.11M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option F6 | 41,431 | $0.00 | $0.00 |
| Exercise | Common Stock | 41,431 | $187.86 | $7.78M |
| Sale | Common Stock F1 | 22,471 | $286.37 | $6.44M |
| Sale | Common Stock F2 | 8,142 | $287.35 | $2.34M |
| Sale | Common Stock F3 | 8,928 | $288.22 | $2.57M |
| Sale | Common Stock F4, F5 | 1,890 | $289.19 | $547K |
Holdings After Transaction:
Employee Stock Option — 124,295 contracts (Direct);
Common Stock — 266,288 shares (Direct)
Footnotes (6)
- F1. This transaction was executed at multiple prices ranging from $285.80 to $286.80. 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. This transaction was executed at multiple prices ranging from $286.81 to $287.81. 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.
- F3. This transaction was executed at multiple prices ranging from $287.82 to $288.79. 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.
- F4. This transaction was executed at multiple prices ranging from $288.92 to $289.45. 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.
- F5. Includes 6,937 shares of deferred stock granted under the ITW Directors' Deferred Fee Plan as of August 19, 2026.
- F6. Stock options vest in four (4) equal annual installments beginning on February 14, 2020 (grant date), and became fully exercisable on February 14, 2024.
Key Figures
Options exercised: 41,431 shares
Exercise price: $187.86 per share
Shares sold (total): 41,431 shares
+5 more
8 metrics
Options exercised
41,431 shares
Employee Stock Options for ITW Common Stock exercised on August 19, 2026
Exercise price
$187.86 per share
Exercise price of Employee Stock Options converted into Common Stock
Shares sold (total)
41,431 shares
Total ITW Common Shares sold in four tranches on August 19, 2026
Sale price (tranche 1)
$286.37 per share
Weighted average sale price for 22,471 shares; executed between $285.80 and $286.80
Sale price (tranche 4)
$289.19 per share
Weighted average sale price for 1,890 shares; executed between $288.92 and $289.45
Options remaining
124,295 options
Employee Stock Options remaining after the reported exercise
Option expiration date
February 14, 2030
Expiration date of the Employee Stock Options exercised in part
Deferred stock
6,937 shares
Deferred stock under the ITW Directors' Deferred Fee Plan as of August 19, 2026
Key Terms
Employee Stock Option, weighted average sale price, Directors' Deferred Fee Plan, deferred stock
4 terms
Employee Stock Option financial
"The security titled "Employee Stock Option" was exercised for 41,431 shares"
An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.
weighted average sale price financial
"The price reported above reflects the weighted average sale price"
Directors' Deferred Fee Plan financial
"Includes 6,937 shares of deferred stock granted under the ITW Directors' Deferred Fee Plan"
deferred stock financial
"Includes 6,937 shares of deferred stock granted under the ITW Directors' Deferred Fee Plan"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Ernest Scott Santi report in his latest Form 4 for ITW?
He exercised 41,431 Employee Stock Options at an exercise price of $187.86 per share, received 41,431 Common Shares, and sold those shares in multiple open-market transactions on August 19, 2026, as detailed in the filing.
How many Illinois Tool Works (ITW) options does Ernest Scott Santi still hold?
After the reported exercise, he holds 124,295 Employee Stock Options related to this grant. These options were granted on February 14, 2020, and became fully exercisable on February 14, 2024, with an expiration date of February 14, 2030.
At what prices did Ernest Scott Santi sell ITW common stock on August 19, 2026?
He sold ITW shares at weighted average prices of $286.37, $287.35, $288.22, and $289.19 per share, with each tranche executed within specific price ranges disclosed in the footnotes.
What does the Form 4 say about Ernest Scott Santi’s deferred stock in ITW?
A footnote states that his holdings include 6,937 shares of deferred stock granted under the ITW Directors' Deferred Fee Plan as of August 19, 2026, which are counted within his reported holdings.
Were Ernest Scott Santi’s ITW trades reported as under a Rule 10b5-1 plan?
No. The filing’s Rule 10b5-1 checkbox is not marked as affirmatively adopted, and the footnotes do not state that these transactions were executed pursuant to a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
